Wetherby Asset Management Inc. Buys 1,506 Shares of GlaxoSmithKline PLC (NYSE:GSK)

Wetherby Asset Management Inc. increased its position in GlaxoSmithKline PLC (NYSE:GSK) by 6.2% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 25,842 shares of the pharmaceutical company’s stock after buying an additional 1,506 shares during the period. Wetherby Asset Management Inc.’s holdings in GlaxoSmithKline PLC were worth $1,114,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Bronfman E.L. Rothschild L.P. boosted 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 boosted 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 boosted 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. boosted 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. 8.96% of the stock is owned by institutional investors and hedge funds.

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 has a 50-day moving average price of $42.13 and a 200-day moving average price of $41.86. The company has a market capitalization of $96.61 billion, a price-to-earnings ratio of 38.23 and a beta of 1.03.

GlaxoSmithKline PLC (NYSE:GSK) last released its earnings results on Wednesday, July 26th. The pharmaceutical company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.02. The firm had revenue of $9.36 billion during the quarter, compared to analysts’ expectations of $9.52 billion. GlaxoSmithKline PLC had a return on equity of 114.93% and a net margin of 6.48%. On average, equities analysts anticipate that GlaxoSmithKline PLC will post $2.85 earnings per share for the current fiscal year.

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

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A number of brokerages have recently issued reports on GSK. BidaskClub cut GlaxoSmithKline PLC from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. J P Morgan Chase & Co reissued a “neutral” rating on shares of GlaxoSmithKline PLC in a report on Monday, July 24th. Citigroup Inc. reissued a “neutral” rating on shares of GlaxoSmithKline PLC in a report on Thursday, July 27th. TheStreet cut GlaxoSmithKline PLC from a “b” rating to a “c+” rating in a report on Wednesday, July 26th. Finally, Zacks Investment Research cut GlaxoSmithKline PLC from a “buy” rating to a “hold” rating in a report on Friday, July 21st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $46.00.

GlaxoSmithKline PLC Company Profile

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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