GW&K Investment Management LLC boosted its position in GlaxoSmithKline PLC (NYSE:GSK) by 7.1% during the second quarter, Holdings Channel reports. The institutional investor owned 745,241 shares of the pharmaceutical company’s stock after buying an additional 49,267 shares during the period. GW&K Investment Management LLC’s holdings in GlaxoSmithKline PLC were worth $32,299,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. Cribstone Capital Management LLC purchased a new stake in GlaxoSmithKline PLC during the second quarter worth $117,000. Williams Jones & Associates LLC purchased a new stake in GlaxoSmithKline PLC during the first quarter worth $161,000. LS Investment Advisors LLC raised its stake in GlaxoSmithKline PLC by 167.5% in the second quarter. LS Investment Advisors LLC now owns 4,280 shares of the pharmaceutical company’s stock worth $185,000 after buying an additional 2,680 shares in the last quarter. Hutchinson Capital Management CA purchased a new stake in GlaxoSmithKline PLC during the first quarter worth $200,000. Finally, Cape Cod Five Cents Savings Bank purchased a new stake in GlaxoSmithKline PLC during the second quarter worth $201,000. Institutional investors own 8.79% of the company’s stock.
Shares of GlaxoSmithKline PLC (NYSE:GSK) traded down 1.06% during midday trading on Monday, hitting $42.96. 2,055,978 shares of the company traded hands. The stock has a market capitalization of $104.41 billion, a P/E ratio of 2685.00 and a beta of 0.85. GlaxoSmithKline PLC has a 52 week low of $37.24 and a 52 week high of $45.58. The company has a 50-day moving average price of $43.76 and a 200-day moving average price of $42.64.
The company also recently declared a dividend, which will be paid on Thursday, October 13th. Investors of record on Friday, August 12th will be paid a dividend of $0.494 per share. The ex-dividend date is Wednesday, August 10th. GlaxoSmithKline PLC’s dividend payout ratio is presently 6,600.00%.
GSK has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of GlaxoSmithKline PLC from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a report on Tuesday, June 21st. Beaufort Securities reiterated a “buy” rating on shares of GlaxoSmithKline PLC in a report on Friday, June 3rd. Citigroup Inc. reiterated a “buy” rating on shares of GlaxoSmithKline PLC in a report on Thursday, June 23rd. Bank of America Corp. reissued a “buy” rating and issued a $48.00 price target on shares of GlaxoSmithKline PLC in a research note on Wednesday, June 22nd. Finally, Jefferies Group raised shares of GlaxoSmithKline PLC from a “hold” rating to a “buy” rating in a research note on Thursday, July 14th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $47.53.
About GlaxoSmithKline PLC
GlaxoSmithKline plc (GSK) is a healthcare company. The Company is engaged in the creation and discovery, development, manufacture and marketing of pharmaceutical products, including vaccines, over-the-counter (OTC) medicines and health-related consumer products. The Company’s segments include Pharmaceuticals, Pharmaceuticals R&D, Vaccines and Consumer Healthcare.
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