GlaxoSmithKline plc (GSK) Holdings Trimmed by Keystone Financial Planning Inc.
Keystone Financial Planning Inc. trimmed its holdings in GlaxoSmithKline plc (NYSE:GSK) by 3.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 129,102 shares of the pharmaceutical company’s stock after selling 4,114 shares during the quarter. GlaxoSmithKline makes up approximately 2.4% of Keystone Financial Planning Inc.’s portfolio, making the stock its 20th largest holding. Keystone Financial Planning Inc.’s holdings in GlaxoSmithKline were worth $4,579,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also bought and sold shares of GSK. Gotham Asset Management LLC boosted its stake in GlaxoSmithKline by 4.3% in the 2nd quarter. Gotham Asset Management LLC now owns 26,495 shares of the pharmaceutical company’s stock worth $1,142,000 after purchasing an additional 1,103 shares during the period. The Manufacturers Life Insurance Company boosted its stake in GlaxoSmithKline by 18.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,960 shares of the pharmaceutical company’s stock worth $818,000 after purchasing an additional 2,968 shares during the period. Americafirst Capital Management LLC bought a new position in GlaxoSmithKline in the 2nd quarter worth approximately $299,000. Nomura Holdings Inc. bought a new position in GlaxoSmithKline in the 2nd quarter worth approximately $265,000. Finally, Verition Fund Management LLC bought a new position in GlaxoSmithKline in the 2nd quarter worth approximately $1,300,000. Institutional investors and hedge funds own 9.66% of the company’s stock.
Several research firms have weighed in on GSK. Zacks Investment Research upgraded GlaxoSmithKline from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a research note on Wednesday, October 18th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of GlaxoSmithKline in a research report on Wednesday, October 18th. Bank of America downgraded GlaxoSmithKline from a “buy” rating to a “neutral” rating in a research report on Thursday, October 26th. ValuEngine downgraded GlaxoSmithKline from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Finally, UBS Group reiterated a “buy” rating on shares of GlaxoSmithKline in a research report on Monday, January 15th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $38.57.
GlaxoSmithKline (NYSE:GSK) last posted its earnings results on Wednesday, February 7th. The pharmaceutical company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.03. The firm had revenue of $10.14 billion during the quarter, compared to the consensus estimate of $9.89 billion. GlaxoSmithKline had a return on equity of 130.63% and a net margin of 4.97%. sell-side analysts predict that GlaxoSmithKline plc will post 2.8 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, April 12th. Investors of record on Friday, February 23rd will be given a $0.633 dividend. The ex-dividend date of this dividend is Thursday, February 22nd. This is an increase from GlaxoSmithKline’s previous quarterly dividend of $0.50. This represents a $2.53 dividend on an annualized basis and a yield of 6.94%. GlaxoSmithKline’s dividend payout ratio (DPR) is currently 258.23%.
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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