Woodley Farra Manion Portfolio Management Inc. Has $4.03 Million Position in GlaxoSmithKline plc (GSK)
Woodley Farra Manion Portfolio Management Inc. lowered its position in GlaxoSmithKline plc (NYSE:GSK) by 1.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 100,295 shares of the pharmaceutical company’s stock after selling 1,728 shares during the quarter. Woodley Farra Manion Portfolio Management Inc.’s holdings in GlaxoSmithKline were worth $4,029,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. boosted its stake in GlaxoSmithKline by 31.1% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 261,744 shares of the pharmaceutical company’s stock worth $10,551,000 after buying an additional 62,159 shares during the period. TD Asset Management Inc. boosted its stake in GlaxoSmithKline by 1.7% during the second quarter. TD Asset Management Inc. now owns 146,562 shares of the pharmaceutical company’s stock worth $5,908,000 after buying an additional 2,457 shares during the period. CIBC Private Wealth Group LLC boosted its stake in GlaxoSmithKline by 23.5% during the second quarter. CIBC Private Wealth Group LLC now owns 40,367 shares of the pharmaceutical company’s stock worth $1,627,000 after buying an additional 7,691 shares during the period. Financial Counselors Inc. boosted its stake in GlaxoSmithKline by 2.0% during the second quarter. Financial Counselors Inc. now owns 248,694 shares of the pharmaceutical company’s stock worth $10,025,000 after buying an additional 4,925 shares during the period. Finally, Dean Capital Investments Management LLC purchased a new position in GlaxoSmithKline during the second quarter worth about $821,000. 10.97% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE GSK traded down $0.27 during midday trading on Wednesday, hitting $38.34. The company’s stock had a trading volume of 6,610,613 shares, compared to its average volume of 2,511,991. The company has a debt-to-equity ratio of 6.66, a quick ratio of 0.63 and a current ratio of 0.95. GlaxoSmithKline plc has a 1 year low of $34.52 and a 1 year high of $42.36. The firm has a market cap of $103.83 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 2.59 and a beta of 0.81.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 10th. Stockholders of record on Friday, November 16th will be paid a $0.486 dividend. This is a positive change from GlaxoSmithKline’s previous quarterly dividend of $0.46. The ex-dividend date is Thursday, November 15th. This represents a $1.94 annualized dividend and a dividend yield of 5.07%. GlaxoSmithKline’s dividend payout ratio (DPR) is presently 67.36%.
Several research analysts have weighed in on GSK shares. Argus increased their target price on shares of GlaxoSmithKline from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Monday, August 20th. Liberum Capital lowered shares of GlaxoSmithKline from a “buy” rating to a “hold” rating in a research note on Thursday, August 30th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of GlaxoSmithKline in a research note on Tuesday, September 25th. Zacks Investment Research raised shares of GlaxoSmithKline from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research note on Tuesday, September 25th. Finally, Guggenheim started coverage on shares of GlaxoSmithKline in a research note on Monday, October 8th. They set a “neutral” rating for the company. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $43.00.
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GlaxoSmithKline plc engages in the creation, discovery, development, manufacture, and marketing of vaccines, over-the-counter medicines, and health-related consumer products worldwide. It operates through four segments: Pharmaceuticals, Pharmaceuticals R&D, Vaccines, and Consumer Healthcare. The company offers pharmaceutical products comprising medicines in the therapeutic areas, such as respiratory, anti-virals, central nervous system, cardiovascular and urogenital, metabolic, anti-bacterials, dermatology, rare diseases, immuno-inflammation, and HIV, as well as vaccines.
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