Private Wealth Partners LLC lowered its stake in shares of GlaxoSmithKline PLC (NYSE:GSK) by 2.0% during the second quarter, Holdings Channel reports. The fund owned 9,900 shares of the pharmaceutical company’s stock after selling 200 shares during the period. Private Wealth Partners LLC’s holdings in GlaxoSmithKline PLC were worth $429,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Cribstone Capital Management LLC acquired a new position in GlaxoSmithKline PLC during the second quarter valued at $117,000. Williams Jones & Associates LLC acquired a new position in GlaxoSmithKline PLC during the first quarter valued at $161,000. LS Investment Advisors LLC raised its position 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 valued at $185,000 after buying an additional 2,680 shares during the last quarter. Hutchinson Capital Management CA acquired a new position in GlaxoSmithKline PLC during the first quarter valued at $200,000. Finally, Cape Cod Five Cents Savings Bank acquired a new position in GlaxoSmithKline PLC during the second quarter valued at $201,000. 8.79% of the stock is currently owned by hedge funds and other institutional investors.
GlaxoSmithKline PLC (NYSE:GSK) traded up 0.51% during trading on Tuesday, reaching $43.44. The company’s stock had a trading volume of 3,260,562 shares. GlaxoSmithKline PLC has a 52-week low of $37.82 and a 52-week high of $45.58. The stock has a market cap of $105.58 billion, a P/E ratio of 2715.00 and a beta of 0.88. The firm’s 50-day moving average is $43.52 and its 200-day moving average is $42.83.
The business also recently announced a dividend, which will be paid on Thursday, October 13th. Investors of record on Friday, August 12th will be given a $0.494 dividend. The ex-dividend date of this dividend is Wednesday, August 10th. GlaxoSmithKline PLC’s dividend payout ratio is currently 6,600.00%.
Several research analysts have weighed in on GSK shares. Citigroup Inc. reaffirmed a “buy” rating on shares of GlaxoSmithKline PLC in a research report on Wednesday, July 27th. HSBC reaffirmed a “buy” rating on shares of GlaxoSmithKline PLC in a research report on Monday, September 12th. Zacks Investment Research raised GlaxoSmithKline PLC from a “sell” rating to a “hold” rating in a research report on Monday, July 25th. Shore Capital reaffirmed a “hold” rating on shares of GlaxoSmithKline PLC in a research report on Wednesday, August 17th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of GlaxoSmithKline PLC in a research report on Thursday, September 22nd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $47.86.
GlaxoSmithKline PLC Company Profile
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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