Salem Investment Counselors Inc. Holds Position in GlaxoSmithKline PLC (GSK)
Salem Investment Counselors Inc. maintained its position in GlaxoSmithKline PLC (NYSE:GSK) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,083 shares of the pharmaceutical company’s stock at the close of the 2nd quarter. Salem Investment Counselors Inc.’s holdings in GlaxoSmithKline PLC were worth $262,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Renaissance Technologies LLC increased its position in GlaxoSmithKline PLC by 112.1% during the second quarter. Renaissance Technologies LLC now owns 9,338,000 shares of the pharmaceutical company’s stock worth $402,655,000 after purchasing an additional 4,935,900 shares during the last quarter. FMR LLC raised its stake in GlaxoSmithKline PLC by 11.7% during the first quarter. FMR LLC now owns 23,635,038 shares of the pharmaceutical company’s stock worth $996,452,000 after purchasing an additional 2,482,009 shares during the period. Thrivent Financial For Lutherans raised its stake in GlaxoSmithKline PLC by 87,023.5% during the first quarter. Thrivent Financial For Lutherans now owns 1,373,066 shares of the pharmaceutical company’s stock worth $57,884,000 after purchasing an additional 1,371,490 shares during the period. Bank of America Corp DE raised its stake in GlaxoSmithKline PLC by 15.8% during the first quarter. Bank of America Corp DE now owns 6,849,632 shares of the pharmaceutical company’s stock worth $288,780,000 after purchasing an additional 934,928 shares during the period. Finally, Federated Investors Inc. PA boosted its holdings in shares of GlaxoSmithKline PLC by 22.7% in the 2nd quarter. Federated Investors Inc. PA now owns 4,511,155 shares of the pharmaceutical company’s stock valued at $194,521,000 after purchasing an additional 833,501 shares during the last quarter. Hedge funds and other institutional investors own 9.28% of the company’s stock.
GSK has been the subject of a number of research analyst reports. BidaskClub upgraded GlaxoSmithKline PLC from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. J P Morgan Chase & Co reiterated 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 target price on the stock in a report on Tuesday, July 18th. Morgan Stanley cut GlaxoSmithKline PLC from an “equal weight” rating to an “underweight” rating in a report on Friday, September 8th. Finally, Argus reissued a “buy” rating and set a $50.00 price target on shares of GlaxoSmithKline PLC in a research report on Thursday, August 31st. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $44.67.
Shares of GlaxoSmithKline PLC (NYSE:GSK) traded up 0.22% during midday trading on Tuesday, hitting $41.00. The company had a trading volume of 1,016,243 shares. The firm has a market cap of $100.20 billion, a price-to-earnings ratio of 39.73 and a beta of 1.03. The company’s 50 day moving average is $39.88 and its 200 day moving average is $41.67. GlaxoSmithKline PLC has a one year low of $37.20 and a one year high of $44.54.
GlaxoSmithKline PLC (NYSE:GSK) last posted its earnings results on Wednesday, July 26th. The pharmaceutical company reported $0.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.02. The firm had revenue of $9.36 billion during the quarter, compared to analysts’ expectations of $9.52 billion. GlaxoSmithKline PLC had a net margin of 6.48% and a return on equity of 114.93%. Equities analysts forecast that GlaxoSmithKline PLC will post $2.87 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 12th. Stockholders of record on Friday, August 11th will be paid a dividend of $0.491 per share. This is a positive change from GlaxoSmithKline PLC’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $1.96 annualized dividend and a dividend yield of 4.80%. GlaxoSmithKline PLC’s dividend payout ratio is 197.00%.
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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.
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