Livingston Group Asset Management CO operating as Southport Capital Management trimmed its stake in shares of GlaxoSmithKline plc (NYSE:GSK) by 7.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,404 shares of the pharmaceutical company’s stock after selling 773 shares during the quarter. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in GlaxoSmithKline were worth $346,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in GSK. Pflug Koory LLC raised its stake in shares of GlaxoSmithKline by 64.4% during the 3rd quarter. Pflug Koory LLC now owns 781 shares of the pharmaceutical company’s stock valued at $29,000 after purchasing an additional 306 shares during the period. BNC Wealth Management LLC purchased a new position in GlaxoSmithKline during the third quarter worth about $34,000. Rockbridge Investment Management LCC purchased a new position in GlaxoSmithKline during the second quarter worth about $41,000. OLD Second National Bank of Aurora grew its position in GlaxoSmithKline by 46.7% during the third quarter. OLD Second National Bank of Aurora now owns 1,100 shares of the pharmaceutical company’s stock worth $41,000 after buying an additional 350 shares in the last quarter. Finally, Biltmore Capital Advisors LLC purchased a new position in GlaxoSmithKline during the third quarter worth about $42,000. Institutional investors own 10.99% of the company’s stock.
Several research firms recently commented on GSK. JPMorgan Chase & Co. restated a “neutral” rating on shares of GlaxoSmithKline in a research report on Tuesday, December 8th. Barclays restated an “underweight” rating on shares of GlaxoSmithKline in a research report on Friday, October 30th. Oddo Bhf upgraded GlaxoSmithKline from a “neutral” rating to a “buy” rating in a research report on Wednesday, September 23rd. Morgan Stanley upgraded GlaxoSmithKline from an “underweight” rating to an “equal weight” rating in a report on Friday, November 13th. Finally, UBS Group cut GlaxoSmithKline from a “buy” rating to a “neutral” rating in a report on Thursday, December 3rd. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $41.00.
GlaxoSmithKline (NYSE:GSK) last issued its earnings results on Wednesday, October 28th. The pharmaceutical company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.14. The company had revenue of $11.17 billion during the quarter, compared to analysts’ expectations of $11.27 billion. GlaxoSmithKline had a return on equity of 29.60% and a net margin of 18.50%. On average, equities research analysts predict that GlaxoSmithKline plc will post 3.05 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 14th. Investors of record on Friday, November 13th will be issued a dividend of $0.4959 per share. The ex-dividend date is Thursday, November 12th. This is a boost from GlaxoSmithKline’s previous quarterly dividend of $0.49. This represents a $1.98 annualized dividend and a yield of 5.26%. GlaxoSmithKline’s dividend payout ratio is currently 61.51%.
GlaxoSmithKline Company Profile
GlaxoSmithKline plc engages in the creation, discovery, development, manufacture, and marketing of pharmaceutical products, vaccines, over-the-counter medicines, and health-related consumer products in the United Kingdom, the United States, and internationally. It operates through four segments: Pharmaceuticals, Pharmaceuticals R&D, Vaccines, and Consumer Healthcare.
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