GlaxoSmithKline (GSK) Position Lifted by Trillium Asset Management LLC
Trillium Asset Management LLC lifted its stake in GlaxoSmithKline (NYSE:GSK) by 21.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,760 shares of the pharmaceutical company’s stock after acquiring an additional 1,923 shares during the period. Trillium Asset Management LLC’s holdings in GlaxoSmithKline were worth $420,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the stock. Guyasuta Investment Advisors Inc. bought a new position in shares of GlaxoSmithKline in the 1st quarter valued at approximately $215,000. Haverford Trust Co. raised its stake in shares of GlaxoSmithKline by 4.0% in the 1st quarter. Haverford Trust Co. now owns 901,929 shares of the pharmaceutical company’s stock valued at $35,238,000 after acquiring an additional 34,393 shares in the last quarter. ProVise Management Group LLC raised its stake in shares of GlaxoSmithKline by 11.4% in the 1st quarter. ProVise Management Group LLC now owns 15,627 shares of the pharmaceutical company’s stock valued at $610,000 after acquiring an additional 1,600 shares in the last quarter. Twin Tree Management LP bought a new position in shares of GlaxoSmithKline in the 1st quarter valued at approximately $754,000. Finally, Cambridge Investment Research Advisors Inc. raised its stake in shares of GlaxoSmithKline by 10.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 119,385 shares of the pharmaceutical company’s stock valued at $4,664,000 after acquiring an additional 11,512 shares in the last quarter. 11.10% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently weighed in on GSK shares. Zacks Investment Research raised GlaxoSmithKline from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a research note on Thursday, March 22nd. TheStreet downgraded GlaxoSmithKline from a “b-” rating to a “c” rating in a research report on Wednesday, February 7th. Morgan Stanley raised GlaxoSmithKline from an “underweight” rating to an “equal weight” rating in a research report on Thursday, March 22nd. Cowen reaffirmed a “hold” rating and issued a $40.00 price target on shares of GlaxoSmithKline in a research report on Thursday, February 15th. Finally, Kepler Capital Markets raised GlaxoSmithKline from a “reduce” rating to a “hold” rating in a research report on Friday, February 9th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. GlaxoSmithKline currently has a consensus rating of “Hold” and an average target price of $40.21.
GlaxoSmithKline (NYSE:GSK) last issued its quarterly earnings results on Wednesday, April 25th. The pharmaceutical company reported $0.68 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.70 by ($0.02). GlaxoSmithKline had a return on equity of 144.84% and a net margin of 3.50%. The business had revenue of $10.04 billion during the quarter, compared to the consensus estimate of $10.26 billion. research analysts forecast that GlaxoSmithKline will post 2.95 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 12th. Stockholders of record on Friday, May 11th will be issued a dividend of $0.5298 per share. This represents a $2.12 annualized dividend and a dividend yield of 5.26%. The ex-dividend date is Thursday, May 10th. GlaxoSmithKline’s payout ratio is presently 72.92%.
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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