Wesbanco Bank Inc. cut its position in shares of GlaxoSmithKline plc (NYSE:GSK) by 4.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,629 shares of the pharmaceutical company’s stock after selling 511 shares during the quarter. Wesbanco Bank Inc.’s holdings in GlaxoSmithKline were worth $444,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of GSK. Bank of New York Mellon Corp increased its position in shares of GlaxoSmithKline by 1,788.6% during the third quarter. Bank of New York Mellon Corp now owns 2,306,091 shares of the pharmaceutical company’s stock worth $92,636,000 after buying an additional 2,183,983 shares during the period. Renaissance Technologies LLC increased its position in shares of GlaxoSmithKline by 8.6% during the third quarter. Renaissance Technologies LLC now owns 10,135,200 shares of the pharmaceutical company’s stock worth $407,131,000 after buying an additional 805,800 shares during the period. Eaton Vance Management increased its position in shares of GlaxoSmithKline by 49.3% during the third quarter. Eaton Vance Management now owns 1,916,771 shares of the pharmaceutical company’s stock worth $76,996,000 after buying an additional 633,093 shares during the period. Morgan Stanley increased its position in shares of GlaxoSmithKline by 16.5% during the third quarter. Morgan Stanley now owns 4,212,892 shares of the pharmaceutical company’s stock worth $169,232,000 after buying an additional 597,367 shares during the period. Finally, Sio Capital Management LLC acquired a new stake in shares of GlaxoSmithKline during the third quarter worth $14,620,000. Institutional investors own 10.89% of the company’s stock.
Shares of GSK traded up $0.15 during trading hours on Tuesday, reaching $40.38. 67,977 shares of the stock traded hands, compared to its average volume of 3,514,306. The company has a debt-to-equity ratio of 5.52, a current ratio of 0.75 and a quick ratio of 0.51. GlaxoSmithKline plc has a 52 week low of $35.78 and a 52 week high of $42.36. The firm has a market capitalization of $99.87 billion, a P/E ratio of 12.78, a PEG ratio of 2.15 and a beta of 0.79.
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 11th. Investors of record on Friday, February 22nd will be given a dividend of $0.597 per share. This is a positive change from GlaxoSmithKline’s previous quarterly dividend of $0.49. This represents a $2.39 dividend on an annualized basis and a dividend yield of 5.91%. The ex-dividend date is Thursday, February 21st. GlaxoSmithKline’s dividend payout ratio (DPR) is presently 60.76%.
Several equities research analysts have recently weighed in on the stock. Zacks Investment Research cut shares of GlaxoSmithKline from a “buy” rating to a “hold” rating in a research report on Tuesday, December 4th. Barclays cut shares of GlaxoSmithKline from an “overweight” rating to an “equal weight” rating and set a $36.95 price target for the company. in a report on Tuesday, December 4th. Cfra restated a “hold” rating on shares of GlaxoSmithKline in a report on Tuesday, December 4th. JPMorgan Chase & Co. restated a “neutral” rating on shares of GlaxoSmithKline in a report on Monday, December 3rd. Finally, Exane BNP Paribas cut shares of GlaxoSmithKline from an “outperform” rating to a “neutral” rating in a report on Monday, January 14th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $41.71.
GlaxoSmithKline Company Profile
GlaxoSmithKline plc engages in the creation, discovery, development, manufacture, and marketing of vaccines, over-the-counter medicines, and health-related consumer products worldwide. It operates through four segments: Pharmaceuticals, Pharmaceuticals R&D, Vaccines, and Consumer Healthcare. The company offers pharmaceutical products comprising medicines in the therapeutic areas, such as respiratory, anti-virals, central nervous system, cardiovascular and urogenital, metabolic, anti-bacterials, dermatology, rare diseases, immuno-inflammation, and HIV, as well as vaccines.
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