GlaxoSmithKline plc (GSK) Position Reduced by Bonness Enterprises Inc.

Bonness Enterprises Inc. decreased its holdings in shares of GlaxoSmithKline plc (NYSE:GSK) by 28.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 29,700 shares of the pharmaceutical company’s stock after selling 12,000 shares during the period. Bonness Enterprises Inc.’s holdings in GlaxoSmithKline were worth $1,053,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wealthcare Advisory Partners LLC increased its position in GlaxoSmithKline by 1,982.8% during the 3rd quarter. Wealthcare Advisory Partners LLC now owns 3,520 shares of the pharmaceutical company’s stock valued at $143,000 after purchasing an additional 3,351 shares during the period. FTB Advisors Inc. increased its position in GlaxoSmithKline by 16.9% during the 2nd quarter. FTB Advisors Inc. now owns 3,735 shares of the pharmaceutical company’s stock valued at $146,000 after purchasing an additional 539 shares during the period. Quadrant Capital Group LLC increased its position in GlaxoSmithKline by 3.5% during the 2nd quarter. Quadrant Capital Group LLC now owns 4,345 shares of the pharmaceutical company’s stock valued at $162,000 after purchasing an additional 148 shares during the period. Advisory Services Network LLC increased its position in GlaxoSmithKline by 24.2% during the 2nd quarter. Advisory Services Network LLC now owns 4,047 shares of the pharmaceutical company’s stock valued at $175,000 after purchasing an additional 788 shares during the period. Finally, Coastline Trust Co purchased a new position in GlaxoSmithKline during the 2nd quarter valued at about $202,000. 9.82% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have recently issued reports on GSK. Zacks Investment Research raised shares of GlaxoSmithKline from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a research report on Wednesday, October 18th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of GlaxoSmithKline in a research report on Wednesday, October 18th. Bank of America downgraded shares of GlaxoSmithKline from a “buy” rating to a “neutral” rating in a research report on Thursday, October 26th. TheStreet raised shares of GlaxoSmithKline from a “c+” rating to a “b” rating in a research report on Wednesday, October 25th. Finally, Investec downgraded shares of GlaxoSmithKline from a “buy” rating to a “hold” rating in a research report on Monday, November 6th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $38.57.

Shares of GlaxoSmithKline plc (GSK) traded down $0.45 during trading on Tuesday, hitting $36.95. 5,285,328 shares of the stock were exchanged, compared to its average volume of 6,619,805. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.44 and a current ratio of 0.64. GlaxoSmithKline plc has a 52-week low of $34.52 and a 52-week high of $44.53. The stock has a market cap of $89,950.00, a P/E ratio of 28.64, a P/E/G ratio of 2.15 and a beta of 0.97.

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 11th. Investors of record on Friday, November 10th will be paid a $0.5037 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This is a boost from GlaxoSmithKline’s previous quarterly dividend of $0.49. This represents a $2.01 dividend on an annualized basis and a yield of 5.45%. GlaxoSmithKline’s dividend payout ratio (DPR) is 154.26%.

In related news, major shareholder Plc Glaxosmithkline bought 428,571 shares of the stock in a transaction that occurred on Monday, November 6th. The stock was bought at an average cost of $14.00 per share, for a total transaction of $5,999,994.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 10.00% of the stock is owned by company insiders.

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

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