Klingenstein Fields & Co. LLC cut its stake in GlaxoSmithKline PLC (NYSE:GSK) by 0.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 478,141 shares of the pharmaceutical company’s stock after selling 4,280 shares during the period. Klingenstein Fields & Co. LLC’s holdings in GlaxoSmithKline PLC were worth $19,412,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Proficio Capital Partners LLC raised its holdings in shares of GlaxoSmithKline PLC by 233.0% during the 1st quarter. Proficio Capital Partners LLC now owns 2,844 shares of the pharmaceutical company’s stock worth $122,000 after buying an additional 1,990 shares in the last quarter. Westwood Holdings Group Inc. raised its holdings in shares of GlaxoSmithKline PLC by 15.7% during the 1st quarter. Westwood Holdings Group Inc. now owns 2,950 shares of the pharmaceutical company’s stock worth $124,000 after buying an additional 400 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in shares of GlaxoSmithKline PLC by 1.9% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 3,374 shares of the pharmaceutical company’s stock worth $137,000 after buying an additional 64 shares in the last quarter. FTB Advisors Inc. raised its holdings in shares of GlaxoSmithKline PLC by 16.9% during the 2nd quarter. FTB Advisors Inc. now owns 3,735 shares of the pharmaceutical company’s stock worth $146,000 after buying an additional 539 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its holdings in shares of GlaxoSmithKline PLC by 3.5% during the 2nd quarter. Quadrant Capital Group LLC now owns 4,345 shares of the pharmaceutical company’s stock worth $162,000 after buying an additional 148 shares in the last quarter. 9.29% of the stock is owned by hedge funds and other institutional investors.

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GlaxoSmithKline PLC (NYSE GSK) traded down $0.06 during mid-day trading on Monday, hitting $36.09. The stock had a trading volume of 1,769,440 shares, compared to its average volume of 5,500,000. The company has a market capitalization of $87,340.00, a price-to-earnings ratio of 12.82, a PEG ratio of 2.00 and a beta of 1.00. The company has a current ratio of 0.64, a quick ratio of 0.44 and a debt-to-equity ratio of 2.96. GlaxoSmithKline PLC has a 52 week low of $35.86 and a 52 week high of $44.53.

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

A number of equities analysts have recently commented on GSK shares. J P Morgan Chase & Co reissued a “neutral” rating on shares of GlaxoSmithKline PLC in a report on Thursday, July 13th. Zacks Investment Research upgraded GlaxoSmithKline PLC from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a research report on Tuesday, July 18th. BidaskClub lowered GlaxoSmithKline PLC from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Citigroup Inc. restated a “neutral” rating on shares of GlaxoSmithKline PLC in a research report on Thursday, July 27th. Finally, TheStreet lowered GlaxoSmithKline PLC from a “b” rating to a “c+” rating in a research report on Wednesday, July 26th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company. GlaxoSmithKline PLC presently has an average rating of “Hold” and an average price target of $44.33.

GlaxoSmithKline PLC Company Profile

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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