GlaxoSmithKline PLC (NYSE:GSK) Position Boosted by Seaward Management Limited Partnership

Seaward Management Limited Partnership increased its position in shares of GlaxoSmithKline PLC (NYSE:GSK) by 4.8% during the second quarter, Holdings Channel reports. The fund owned 5,785 shares of the pharmaceutical company’s stock after buying an additional 266 shares during the period. Seaward Management Limited Partnership’s holdings in GlaxoSmithKline PLC were worth $249,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bronfman E.L. Rothschild L.P. raised its position in shares of GlaxoSmithKline PLC by 45.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,410 shares of the pharmaceutical company’s stock worth $102,000 after buying an additional 753 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its position in shares of GlaxoSmithKline PLC by 1,747.4% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 2,494 shares of the pharmaceutical company’s stock worth $105,000 after buying an additional 2,359 shares during the last quarter. Proficio Capital Partners LLC raised its position in shares of GlaxoSmithKline PLC by 233.0% in the first quarter. Proficio Capital Partners LLC now owns 2,844 shares of the pharmaceutical company’s stock worth $122,000 after buying an additional 1,990 shares during the last quarter. Heritage Trust Co bought a new position in shares of GlaxoSmithKline PLC during the first quarter worth about $123,000. Finally, Westwood Holdings Group Inc. raised its position in shares of GlaxoSmithKline PLC by 15.7% in the first quarter. Westwood Holdings Group Inc. now owns 2,950 shares of the pharmaceutical company’s stock worth $124,000 after buying an additional 400 shares during the last quarter. Institutional investors and hedge funds own 8.96% of the company’s stock.

GlaxoSmithKline PLC (NYSE:GSK) opened at 39.53 on Thursday. GlaxoSmithKline PLC has a 12-month low of $37.20 and a 12-month high of $44.59. The firm’s 50-day moving average is $42.13 and its 200 day moving average is $41.86. The stock has a market capitalization of $96.61 billion, a P/E ratio of 38.23 and a beta of 1.03.

GlaxoSmithKline PLC (NYSE:GSK) last issued its earnings results on Wednesday, July 26th. The pharmaceutical company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.68 by $0.02. The company had revenue of $9.36 billion for the quarter, compared to analyst estimates of $9.52 billion. GlaxoSmithKline PLC had a net margin of 6.48% and a return on equity of 114.93%. Equities analysts expect that GlaxoSmithKline PLC will post $2.85 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 12th. Shareholders of record on Friday, August 11th will be given a dividend of $0.491 per share. This is a positive change from GlaxoSmithKline PLC’s previous quarterly dividend of $0.46. This represents a $1.96 annualized dividend and a dividend yield of 4.97%. The ex-dividend date is Wednesday, August 9th. GlaxoSmithKline PLC’s payout ratio is presently 194.00%.

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A number of research analysts have issued reports on GSK shares. TheStreet upgraded shares of GlaxoSmithKline PLC from a “c” rating to a “b” rating in a research note on Friday, May 19th. Berenberg Bank upgraded shares of GlaxoSmithKline PLC from a “hold” rating to a “buy” rating in a research note on Friday, May 26th. Zacks Investment Research raised shares of GlaxoSmithKline PLC from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a report on Tuesday, July 18th. ValuEngine downgraded shares of GlaxoSmithKline PLC from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of GlaxoSmithKline PLC in a report on Monday, July 24th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company. GlaxoSmithKline PLC has a consensus rating of “Hold” and a consensus price target of $46.00.

About GlaxoSmithKline PLC

GlaxoSmithKline plc is a global healthcare company. The Company operates through three segments: Pharmaceuticals, Vaccines and Consumer Healthcare. The Company focuses on its research across six areas: Respiratory diseases, human immunodeficiency virus (HIV)/infectious diseases, Vaccines, Immuno-inflammation, Oncology and Rare diseases.

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Institutional Ownership by Quarter for GlaxoSmithKline PLC (NYSE:GSK)

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