ProVise Management Group LLC cut its stake in shares of GlaxoSmithKline plc (NYSE:GSK) by 17.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,898 shares of the pharmaceutical company’s stock after selling 2,437 shares during the quarter. ProVise Management Group LLC’s holdings in GlaxoSmithKline were worth $497,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of GSK. Boston Partners bought a new stake in GlaxoSmithKline during the 4th quarter worth about $65,234,000. Norges Bank acquired a new position in shares of GlaxoSmithKline during the 4th quarter worth about $17,275,000. Two Sigma Investments LP acquired a new position in shares of GlaxoSmithKline during the 4th quarter worth about $15,936,000. Deutsche Bank AG grew its position in shares of GlaxoSmithKline by 221.0% during the 4th quarter. Deutsche Bank AG now owns 529,309 shares of the pharmaceutical company’s stock worth $20,222,000 after buying an additional 364,431 shares during the period. Finally, Millennium Management LLC grew its position in shares of GlaxoSmithKline by 612.0% during the 4th quarter. Millennium Management LLC now owns 365,325 shares of the pharmaceutical company’s stock worth $13,959,000 after buying an additional 314,016 shares during the period. 11.26% of the stock is owned by institutional investors.
NYSE GSK traded up $0.06 on Friday, reaching $40.02. The stock had a trading volume of 1,970,325 shares, compared to its average volume of 2,212,736. The company has a debt-to-equity ratio of 6.92, a quick ratio of 0.48 and a current ratio of 0.72. The stock’s fifty day moving average is $39.74. GlaxoSmithKline plc has a 1-year low of $36.41 and a 1-year high of $42.32. The stock has a market capitalization of $99.27 billion, a P/E ratio of 12.66, a P/E/G ratio of 2.08 and a beta of 0.74.
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Friday, May 17th will be issued a dividend of $0.4953 per share. This represents a $1.98 annualized dividend and a dividend yield of 4.95%. The ex-dividend date of this dividend is Thursday, May 16th. GlaxoSmithKline’s dividend payout ratio (DPR) is currently 61.71%.
Several equities analysts have recently issued reports on the company. Morgan Stanley restated an “underweight” rating on shares of GlaxoSmithKline in a research report on Monday, June 17th. Cowen reiterated a “hold” rating and issued a $45.00 price objective on shares of GlaxoSmithKline in a research report on Monday, June 10th. Zacks Investment Research lowered GlaxoSmithKline from a “buy” rating to a “hold” rating in a research report on Thursday, April 25th. Finally, Shore Capital lowered GlaxoSmithKline from a “buy” rating to a “hold” rating in a research report on Friday, March 8th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $42.28.
In other GlaxoSmithKline news, Director Plc Glaxosmithkline acquired 385,714 shares of GlaxoSmithKline stock in a transaction that occurred on Tuesday, May 28th. The shares were acquired at an average cost of $14.00 per share, with a total value of $5,399,996.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 10.00% of the company’s stock.
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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