Wetherby Asset Management Inc. grew its holdings in GlaxoSmithKline plc (NYSE:GSK) by 19.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 38,959 shares of the pharmaceutical company’s stock after buying an additional 6,335 shares during the period. Wetherby Asset Management Inc.’s holdings in GlaxoSmithKline were worth $1,625,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Nachman Norwood & Parrott Inc acquired a new stake in GlaxoSmithKline during the first quarter worth about $201,000. Kahn Brothers Group Inc. DE boosted its stake in shares of GlaxoSmithKline by 1.6% in the fourth quarter. Kahn Brothers Group Inc. DE now owns 1,260,940 shares of the pharmaceutical company’s stock valued at $48,181,000 after purchasing an additional 19,424 shares during the period. PagnatoKarp Partners LLC boosted its stake in shares of GlaxoSmithKline by 5.9% in the first quarter. PagnatoKarp Partners LLC now owns 7,384 shares of the pharmaceutical company’s stock valued at $313,000 after purchasing an additional 411 shares during the period. Pathlight Investors LLC purchased a new position in shares of GlaxoSmithKline in the fourth quarter valued at approximately $675,000. Finally, Voit & Company LLC purchased a new position in shares of GlaxoSmithKline in the fourth quarter valued at approximately $222,000. Institutional investors and hedge funds own 11.31% of the company’s stock.
GSK stock traded up $0.19 during midday trading on Friday, reaching $40.18. 691,764 shares of the company were exchanged, compared to its average volume of 2,489,508. The company has a current ratio of 0.72, a quick ratio of 0.48 and a debt-to-equity ratio of 6.92. GlaxoSmithKline plc has a 1-year low of $36.41 and a 1-year high of $42.36. The stock has a market cap of $99.57 billion, a P/E ratio of 12.72, a PEG ratio of 2.03 and a beta of 0.74.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Friday, May 17th will be issued a dividend of $0.4953 per share. The ex-dividend date is Thursday, May 16th. This represents a $1.98 dividend on an annualized basis and a yield of 4.93%. GlaxoSmithKline’s payout ratio is currently 61.71%.
In related news, Director Plc Glaxosmithkline acquired 325,000 shares of the business’s stock in a transaction on Monday, April 22nd. The shares were bought at an average price of $18.00 per share, with a total value of $5,850,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 10.00% of the stock is currently owned by company insiders.
Several brokerages recently weighed in on GSK. Zacks Investment Research cut shares of GlaxoSmithKline from a “buy” rating to a “hold” rating in a report on Thursday, April 25th. Shore Capital cut shares of GlaxoSmithKline from a “buy” rating to a “hold” rating in a report on Friday, March 8th. Finally, UBS Group cut shares of GlaxoSmithKline from a “buy” rating to a “neutral” rating in a report on Friday, February 22nd. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $41.83.
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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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