Garrison Financial Corp grew its stake in GlaxoSmithKline plc (NYSE:GSK) by 24.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,494 shares of the pharmaceutical company’s stock after acquiring an additional 1,294 shares during the quarter. Garrison Financial Corp’s holdings in GlaxoSmithKline were worth $280,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the company. FMR LLC lifted its position in shares of GlaxoSmithKline by 1.7% in the third quarter. FMR LLC now owns 19,081,274 shares of the pharmaceutical company’s stock valued at $766,495,000 after acquiring an additional 327,721 shares in the last quarter. Fisher Asset Management LLC lifted its position in GlaxoSmithKline by 0.7% during the fourth quarter. Fisher Asset Management LLC now owns 14,102,560 shares of the pharmaceutical company’s stock worth $538,859,000 after buying an additional 91,232 shares during the period. Renaissance Technologies LLC lifted its position in 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. Morgan Stanley lifted its position in 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, Macquarie Group Ltd. lifted its position in GlaxoSmithKline by 4.0% during the third quarter. Macquarie Group Ltd. now owns 2,526,790 shares of the pharmaceutical company’s stock worth $101,501,000 after buying an additional 97,947 shares during the period. Institutional investors and hedge funds own 10.89% of the company’s stock.
GlaxoSmithKline stock opened at $40.23 on Tuesday. The stock has a market capitalization of $99.79 billion, a PE ratio of 12.73, a PEG ratio of 2.15 and a beta of 0.79. The company has a current ratio of 0.75, a quick ratio of 0.51 and a debt-to-equity ratio of 5.52. GlaxoSmithKline plc has a 12 month low of $35.78 and a 12 month high of $42.36.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 11th. Stockholders of record on Friday, February 22nd will be issued a $0.597 dividend. This represents a $2.39 dividend on an annualized basis and a dividend yield of 5.94%. This is an increase from GlaxoSmithKline’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Thursday, February 21st. GlaxoSmithKline’s dividend payout ratio (DPR) is 60.76%.
Several equities analysts recently weighed in on GSK shares. Jefferies Financial Group reiterated a “buy” rating and set a $45.00 target price on shares of GlaxoSmithKline in a research report on Tuesday, December 11th. Morgan Stanley started coverage on GlaxoSmithKline in a research report on Friday, December 14th. They set an “underweight” rating on the stock. BNP Paribas downgraded GlaxoSmithKline from an “outperform” rating to a “neutral” rating in a research report on Monday, January 14th. Exane BNP Paribas downgraded GlaxoSmithKline from an “outperform” rating to a “neutral” rating in a research report on Monday, January 14th. Finally, Wolfe Research started coverage on GlaxoSmithKline in a research report on Tuesday, October 23rd. They set a “market perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $41.71.
ILLEGAL ACTIVITY WARNING: This news story was originally published by Ticker Report and is owned by of Ticker Report. If you are accessing this news story on another website, it was copied illegally and republished in violation of US and international copyright and trademark legislation. The correct version of this news story can be viewed at https://www.tickerreport.com/banking-finance/4146594/garrison-financial-corp-buys-1294-shares-of-glaxosmithkline-plc-gsk.html.
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.
Further Reading: How interest rates affect municipal bond prices
Want to see what other hedge funds are holding GSK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GlaxoSmithKline plc (NYSE:GSK).
Receive News & Ratings for GlaxoSmithKline Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GlaxoSmithKline and related companies with MarketBeat.com's FREE daily email newsletter.