Checchi Capital Advisers LLC lowered its stake in GlaxoSmithKline PLC (NYSE:GSK) by 19.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,270 shares of the pharmaceutical company’s stock after selling 5,719 shares during the quarter. Checchi Capital Advisers LLC’s holdings in GlaxoSmithKline PLC were worth $985,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bingham Osborn & Scarborough LLC purchased a new position in GlaxoSmithKline PLC in the 2nd quarter worth about $311,000. 10 15 Associates Inc. grew its stake in GlaxoSmithKline PLC by 6.4% during the 1st quarter. 10 15 Associates Inc. now owns 237,716 shares of the pharmaceutical company’s stock valued at $10,022,000 after acquiring an additional 14,247 shares in the last quarter. Lincluden Management Ltd. grew its stake in GlaxoSmithKline PLC by 1.7% during the 1st quarter. Lincluden Management Ltd. now owns 120,845 shares of the pharmaceutical company’s stock valued at $5,095,000 after acquiring an additional 1,990 shares in the last quarter. Freestone Capital Holdings LLC grew its stake in GlaxoSmithKline PLC by 11.9% during the 2nd quarter. Freestone Capital Holdings LLC now owns 94,008 shares of the pharmaceutical company’s stock valued at $4,054,000 after acquiring an additional 10,017 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in GlaxoSmithKline PLC by 112.1% during the 2nd quarter. Renaissance Technologies LLC now owns 9,338,000 shares of the pharmaceutical company’s stock valued at $402,655,000 after acquiring an additional 4,935,900 shares in the last quarter. 9.29% of the stock is currently owned by hedge funds and other institutional investors.

GlaxoSmithKline PLC (NYSE:GSK) traded down $0.01 on Monday, reaching $36.14. The company had a trading volume of 1,995,020 shares, compared to its average volume of 5,500,000. GlaxoSmithKline PLC has a 12-month low of $35.86 and a 12-month high of $44.53. The company has a current ratio of 0.64, a quick ratio of 0.44 and a debt-to-equity ratio of 2.96. The firm has a market cap of $87,340.00, a price-to-earnings ratio of 12.82, a P/E/G ratio of 2.00 and a beta of 1.00.

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 11th. Investors of record on Friday, November 10th will be issued a $0.5037 dividend. This is a positive change from GlaxoSmithKline PLC’s previous quarterly dividend of $0.49. This represents a $2.01 annualized dividend and a yield of 5.58%. The ex-dividend date of this dividend is Thursday, November 9th. GlaxoSmithKline PLC’s payout ratio is 159.68%.

Several equities analysts have weighed in on the company. Citigroup Inc. reaffirmed a “neutral” rating on shares of GlaxoSmithKline PLC in a research note on Thursday, July 27th. TheStreet cut GlaxoSmithKline PLC from a “b” rating to a “c+” rating in a research note on Wednesday, July 26th. Argus reaffirmed a “buy” rating and set a $50.00 target price on shares of GlaxoSmithKline PLC in a research note on Thursday, August 31st. Zacks Investment Research cut GlaxoSmithKline PLC from a “buy” rating to a “hold” rating in a research note on Tuesday, October 24th. Finally, Bank of America Corporation cut GlaxoSmithKline PLC from a “buy” rating to a “neutral” rating in a research note on Thursday, October 26th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $44.33.

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About GlaxoSmithKline PLC

GlaxoSmithKline plc is a global healthcare company. The Company operates through three segments: Pharmaceuticals, Vaccines and Consumer Healthcare. The Company focuses on its research across six areas: Respiratory diseases, human immunodeficiency virus (HIV)/infectious diseases, Vaccines, Immuno-inflammation, Oncology and Rare diseases.

Institutional Ownership by Quarter for GlaxoSmithKline PLC (NYSE:GSK)

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