BlackRock Advisors LLC Boosts Position in GlaxoSmithKline PLC (GSK)
BlackRock Advisors LLC increased its position in shares of GlaxoSmithKline PLC (NYSE:GSK) by 10.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 762,100 shares of the pharmaceutical company’s stock after buying an additional 70,400 shares during the period. BlackRock Advisors LLC’s holdings in GlaxoSmithKline PLC were worth $33,029,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GSK. M&R Capital Management Inc. bought a new position in GlaxoSmithKline PLC during the second quarter worth about $109,000. Quadrant Capital Group LLC increased its position in GlaxoSmithKline PLC by 6.4% in the second quarter. Quadrant Capital Group LLC now owns 2,725 shares of the pharmaceutical company’s stock worth $111,000 after buying an additional 163 shares during the last quarter. Cribstone Capital Management LLC bought a new position in GlaxoSmithKline PLC during the second quarter worth about $117,000. First Personal Financial Services bought a new position in GlaxoSmithKline PLC during the second quarter worth about $130,000. Finally, Signaturefd LLC increased its position in GlaxoSmithKline PLC by 25.2% in the second quarter. Signaturefd LLC now owns 3,020 shares of the pharmaceutical company’s stock worth $131,000 after buying an additional 607 shares during the last quarter. Institutional investors own 8.79% of the company’s stock.
GlaxoSmithKline PLC (NYSE:GSK) opened at 43.06 on Wednesday. The company’s 50-day moving average is $43.91 and its 200 day moving average is $42.60. GlaxoSmithKline PLC has a 52-week low of $37.24 and a 52-week high of $45.58. The company has a market cap of $104.66 billion, a price-to-earnings ratio of 2691.25 and a beta of 0.85.
The firm also recently disclosed a dividend, which will be paid on Thursday, October 13th. Investors of record on Friday, August 12th will be issued a $0.494 dividend. The ex-dividend date is Wednesday, August 10th. GlaxoSmithKline PLC’s payout ratio is 6,600.00%.
A number of research firms recently issued reports on GSK. BNP Paribas reiterated a “neutral” rating on shares of GlaxoSmithKline PLC in a research report on Sunday, July 31st. Beaufort Securities reiterated a “buy” rating on shares of GlaxoSmithKline PLC in a research report on Friday, June 3rd. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of GlaxoSmithKline PLC in a research report on Friday, September 16th. Cowen and Company downgraded shares of GlaxoSmithKline PLC from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 26th. Finally, Shore Capital restated a “hold” rating on shares of GlaxoSmithKline PLC in a research note on Wednesday, July 27th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. GlaxoSmithKline PLC presently has an average rating of “Hold” and a consensus price target of $47.53.
About GlaxoSmithKline PLC
GlaxoSmithKline plc (GSK) is a healthcare company. The Company is engaged in the creation and discovery, development, manufacture and marketing of pharmaceutical products, including vaccines, over-the-counter (OTC) medicines and health-related consumer products. The Company’s segments include Pharmaceuticals, Pharmaceuticals R&D, Vaccines and Consumer Healthcare.
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