GlaxoSmithKline PLC’s (GSK) Buy Rating Reaffirmed at Beaufort Securities
GSK has been the subject of a number of other reports. BNP Paribas reissued a neutral rating on shares of GlaxoSmithKline PLC in a research report on Sunday, July 31st. JPMorgan Chase & Co. reissued a neutral rating on shares of GlaxoSmithKline PLC in a research report on Friday, September 16th. Cowen and Company cut GlaxoSmithKline PLC from an outperform rating to a market perform rating in a research report on Thursday, May 26th. Shore Capital reissued a hold rating on shares of GlaxoSmithKline PLC in a research report on Wednesday, July 27th. Finally, Zacks Investment Research raised GlaxoSmithKline PLC from a hold rating to a buy rating and set a $46.00 target price for the company in a research report on Tuesday, June 21st. Two investment 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’s stock. The stock currently has an average rating of Hold and a consensus price target of $47.53.
Shares of GlaxoSmithKline PLC (NYSE:GSK) opened at 43.21 on Friday. The company’s 50 day moving average price is $43.84 and its 200 day moving average price is $42.60. The stock has a market capitalization of $105.02 billion, a PE ratio of 2700.62 and a beta of 0.85. GlaxoSmithKline PLC has a 12 month low of $37.24 and a 12 month high of $45.58.
The company also recently disclosed a dividend, which will be paid on Thursday, October 13th. Investors of record on Friday, August 12th will be paid a $0.494 dividend. The ex-dividend date is Wednesday, August 10th. GlaxoSmithKline PLC’s payout ratio is currently 6,600.00%.
A number of institutional investors have recently added to or reduced their stakes in the stock. Sanders Morris Harris Inc. purchased a new position in GlaxoSmithKline PLC during the first quarter valued at $1,097,000. Investment Centers of America Inc. increased its position in GlaxoSmithKline PLC by 3.5% in the first quarter. Investment Centers of America Inc. now owns 72,405 shares of the pharmaceutical company’s stock valued at $2,931,000 after buying an additional 2,453 shares during the last quarter. Union Bankshares Corp bought a new position in GlaxoSmithKline PLC during the second quarter valued at $208,000. Mckinley Capital Management LLC Delaware increased its position in GlaxoSmithKline PLC by 47.1% in the first quarter. Mckinley Capital Management LLC Delaware now owns 10,733 shares of the pharmaceutical company’s stock valued at $435,000 after buying an additional 3,439 shares during the last quarter. Finally, Loomis Sayles & Co. L P increased its position in GlaxoSmithKline PLC by 60.6% in the first quarter. Loomis Sayles & Co. L P now owns 20,631 shares of the pharmaceutical company’s stock valued at $837,000 after buying an additional 7,788 shares during the last quarter. 8.79% of the stock is owned by hedge funds and other institutional investors.
GlaxoSmithKline PLC Company Profile
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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