Tocqueville Asset Management L.P. cut its position in shares of GlaxoSmithKline PLC (NYSE:GSK) by 10.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,900 shares of the pharmaceutical company’s stock after selling 1,519 shares during the period. Tocqueville Asset Management L.P.’s holdings in GlaxoSmithKline PLC were worth $556,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Advisors Management Group Inc. ADV raised its position in shares of GlaxoSmithKline PLC by 1.6% in the second quarter. Advisors Management Group Inc. ADV now owns 74,111 shares of the pharmaceutical company’s stock worth $3,196,000 after buying an additional 1,170 shares in the last quarter. Marshall Wace LLP bought a new position in shares of GlaxoSmithKline PLC during the second quarter worth $785,000. Hourglass Capital LLC raised its position in shares of GlaxoSmithKline PLC by 1.1% in the second quarter. Hourglass Capital LLC now owns 174,790 shares of the pharmaceutical company’s stock worth $7,537,000 after buying an additional 1,965 shares in the last quarter. Marshall Wace North America L.P. raised its position in shares of GlaxoSmithKline PLC by 148.0% in the second quarter. Marshall Wace North America L.P. now owns 1,119,491 shares of the pharmaceutical company’s stock worth $48,138,000 after buying an additional 668,088 shares in the last quarter. Finally, BB&T Securities LLC raised its position in shares of GlaxoSmithKline PLC by 24.8% in the second quarter. BB&T Securities LLC now owns 288,372 shares of the pharmaceutical company’s stock worth $12,434,000 after buying an additional 57,222 shares in the last quarter. 9.28% of the stock is currently owned by hedge funds and other institutional investors.

Shares of GlaxoSmithKline PLC (NYSE:GSK) opened at 39.32 on Wednesday. GlaxoSmithKline PLC has a 52-week low of $37.20 and a 52-week high of $44.53. The stock’s 50 day moving average is $40.70 and its 200 day moving average is $41.84. The stock has a market capitalization of $96.10 billion, a PE ratio of 38.62 and a beta of 1.03.

GlaxoSmithKline PLC (NYSE:GSK) last released its earnings results on Wednesday, July 26th. The pharmaceutical company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. GlaxoSmithKline PLC had a net margin of 6.48% and a return on equity of 114.93%. The company had revenue of $9.36 billion for the quarter, compared to the consensus estimate of $9.52 billion. Equities research analysts expect that GlaxoSmithKline PLC will post $2.84 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 12th. Shareholders of record on Friday, August 11th will be given a dividend of $0.491 per share. The ex-dividend date is Wednesday, August 9th. This is an increase from GlaxoSmithKline PLC’s previous quarterly dividend of $0.46. This represents a $1.96 dividend on an annualized basis and a yield of 4.99%. GlaxoSmithKline PLC’s dividend payout ratio is presently 197.00%.

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A number of research analysts have weighed in on GSK shares. BidaskClub raised shares of GlaxoSmithKline PLC from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. TheStreet lowered shares of GlaxoSmithKline PLC from a “b” rating to a “c+” rating in a research note on Wednesday, July 26th. Citigroup Inc. reissued a “neutral” rating on shares of GlaxoSmithKline PLC in a research note on Thursday, July 27th. J P Morgan Chase & Co reissued a “neutral” rating on shares of GlaxoSmithKline PLC in a research note on Monday, July 24th. Finally, Zacks Investment Research lowered shares of GlaxoSmithKline PLC from a “buy” rating to a “hold” rating in a research note on Friday, July 21st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $44.67.

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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