Investec cut shares of GlaxoSmithKline PLC (NYSE:GSK) from a buy rating to a hold rating in a research note issued to investors on Monday, MarketBeat reports.
A number of other equities research analysts have also recently issued reports on GSK. J P Morgan Chase & Co reissued a neutral rating on shares of GlaxoSmithKline PLC in a research report on Thursday, September 21st. Bank of America Corporation cut shares of GlaxoSmithKline PLC from a buy rating to a neutral rating in a research report on Thursday, October 26th. BidaskClub cut shares of GlaxoSmithKline PLC from a sell rating to a strong sell rating in a research report on Monday, July 24th. Zacks Investment Research cut shares of GlaxoSmithKline PLC from a buy rating to a hold rating in a research report on Tuesday, October 24th. Finally, TheStreet cut shares of GlaxoSmithKline PLC from a b rating to a c+ rating in a research report on Wednesday, July 26th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company. GlaxoSmithKline PLC has a consensus rating of Hold and an average price target of $44.33.
Shares of GlaxoSmithKline PLC (NYSE GSK) traded down $0.48 during trading on Monday, hitting $35.30. 5,491,537 shares of the stock were exchanged, compared to its average volume of 5,720,000. The company has a market capitalization of $85,710.00, a PE ratio of 12.94, a PEG ratio of 2.02 and a beta of 1.00. GlaxoSmithKline PLC has a 52 week low of $35.27 and a 52 week high of $44.53. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.44 and a current ratio of 0.64.
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The business also recently announced a quarterly dividend, which will be paid on Thursday, January 11th. Shareholders of record on Friday, November 10th will be issued a dividend of $0.5037 per share. This represents a $2.01 dividend on an annualized basis and a yield of 5.71%. The ex-dividend date is Thursday, November 9th. This is a positive change from GlaxoSmithKline PLC’s previous quarterly dividend of $0.49. GlaxoSmithKline PLC’s payout ratio is presently 158.40%.
In other GlaxoSmithKline PLC news, major shareholder Plc Glaxosmithkline purchased 428,571 shares of the company’s stock in a transaction dated Monday, November 6th. The stock was purchased at an average price of $14.00 per share, for a total transaction of $5,999,994.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 10.00% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. FMR LLC lifted its position in GlaxoSmithKline PLC by 5.9% in the second quarter. FMR LLC now owns 25,024,276 shares of the pharmaceutical company’s stock valued at $1,079,047,000 after purchasing an additional 1,389,238 shares during the last quarter. Fisher Asset Management LLC grew its stake in GlaxoSmithKline PLC by 2.3% in the third quarter. Fisher Asset Management LLC now owns 12,828,251 shares of the pharmaceutical company’s stock worth $520,827,000 after purchasing an additional 293,866 shares during the period. Renaissance Technologies LLC grew its stake in GlaxoSmithKline PLC by 112.1% in 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 period. Hotchkis & Wiley Capital Management LLC boosted its holdings in GlaxoSmithKline PLC by 4.3% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 7,847,327 shares of the pharmaceutical company’s stock worth $338,377,000 after acquiring an additional 322,700 shares in the last quarter. Finally, Federated Investors Inc. PA boosted its holdings in GlaxoSmithKline PLC by 22.7% in the second quarter. Federated Investors Inc. PA now owns 4,511,155 shares of the pharmaceutical company’s stock worth $194,521,000 after acquiring an additional 833,501 shares in the last quarter. Hedge funds and other institutional investors own 9.29% of the company’s stock.
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.
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