Pioneer Investment Management Inc. boosted its position in shares of GlaxoSmithKline PLC (NYSE:GSK) by 15.2% during the second quarter, Holdings Channel reports. The institutional investor owned 623,997 shares of the pharmaceutical company’s stock after buying an additional 82,472 shares during the period. Pioneer Investment Management Inc.’s holdings in GlaxoSmithKline PLC were worth $26,907,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Bronfman E.L. Rothschild L.P. boosted its position in GlaxoSmithKline PLC by 45.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,410 shares of the pharmaceutical company’s stock worth $102,000 after buying an additional 753 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its position in GlaxoSmithKline PLC by 1,747.4% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 2,494 shares of the pharmaceutical company’s stock worth $105,000 after buying an additional 2,359 shares during the last quarter. Proficio Capital Partners LLC boosted its position in GlaxoSmithKline PLC by 233.0% in the first 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 during the last quarter. Heritage Trust Co bought a new position in GlaxoSmithKline PLC during the first quarter worth approximately $123,000. Finally, Westwood Holdings Group Inc. boosted its position in GlaxoSmithKline PLC by 15.7% in the first 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 during the last quarter. 8.96% of the stock is owned by hedge funds and other institutional investors.

Shares of GlaxoSmithKline PLC (NYSE GSK) opened at 39.53 on Thursday. The stock’s 50 day moving average is $42.13 and its 200 day moving average is $41.86. The firm has a market cap of $96.61 billion, a PE ratio of 38.23 and a beta of 1.03. GlaxoSmithKline PLC has a 12 month low of $37.20 and a 12 month high of $44.59.

GlaxoSmithKline PLC (NYSE:GSK) last released its quarterly earnings data on Wednesday, July 26th. The pharmaceutical company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.02. The business had revenue of $9.36 billion for the quarter, compared to analyst estimates of $9.52 billion. GlaxoSmithKline PLC had a return on equity of 114.93% and a net margin of 6.48%. On average, analysts anticipate that GlaxoSmithKline PLC will post $2.85 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 12th. Stockholders of record on Friday, August 11th will be paid a $0.491 dividend. This is a positive change from GlaxoSmithKline PLC’s previous quarterly dividend of $0.46. This represents a $1.96 annualized dividend and a dividend yield of 4.97%. The ex-dividend date of this dividend is Wednesday, August 9th. GlaxoSmithKline PLC’s payout ratio is currently 194.00%.

TRADEMARK VIOLATION WARNING: “Pioneer Investment Management Inc. Has $26.91 Million Position in GlaxoSmithKline PLC (NYSE:GSK)” was originally posted by Watch List News and is owned by of Watch List News. If you are accessing this report on another site, it was illegally stolen and republished in violation of United States & international trademark & copyright law. The legal version of this report can be read at https://www.watchlistnews.com/pioneer-investment-management-inc-has-26-91-million-position-in-glaxosmithkline-plc-nysegsk/1469270.html.

A number of research firms have commented on GSK. Citigroup Inc. reaffirmed a “neutral” rating on shares of GlaxoSmithKline PLC in a research report on Thursday, July 27th. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of GlaxoSmithKline PLC in a research report on Wednesday, May 31st. TheStreet cut shares of GlaxoSmithKline PLC from a “b” rating to a “c+” rating in a research report on Wednesday, July 26th. Zacks Investment Research raised shares of GlaxoSmithKline PLC from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research report on Tuesday, July 18th. Finally, Berenberg Bank raised shares of GlaxoSmithKline PLC from a “hold” rating to a “buy” rating in a research report on Friday, May 26th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company’s stock. GlaxoSmithKline PLC has a consensus rating of “Hold” and a consensus price target of $46.00.

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.

Want to see what other hedge funds are holding GSK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GlaxoSmithKline PLC (NYSE:GSK).

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

Receive News & Ratings for GlaxoSmithKline PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GlaxoSmithKline PLC and related companies with Analyst Ratings Network's FREE daily email newsletter.