Todd Asset Management LLC Boosts Position in GlaxoSmithKline plc (GSK)
Todd Asset Management LLC boosted its stake in shares of GlaxoSmithKline plc (NYSE:GSK) by 318.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 90,734 shares of the pharmaceutical company’s stock after buying an additional 69,043 shares during the quarter. Todd Asset Management LLC’s holdings in GlaxoSmithKline were worth $3,792,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of GSK. Boston Partners bought a new position in GlaxoSmithKline during the fourth quarter valued at about $65,234,000. Morgan Stanley grew its position in GlaxoSmithKline by 16.5% during the third quarter. Morgan Stanley now owns 4,212,892 shares of the pharmaceutical company’s stock valued at $169,232,000 after buying an additional 597,367 shares during the period. Norges Bank bought a new position in GlaxoSmithKline during the fourth quarter valued at about $17,275,000. Two Sigma Investments LP bought a new position in GlaxoSmithKline during the fourth quarter valued at about $15,936,000. Finally, Deutsche Bank AG grew its position in GlaxoSmithKline by 221.0% during the fourth quarter. Deutsche Bank AG now owns 529,309 shares of the pharmaceutical company’s stock valued at $20,222,000 after buying an additional 364,431 shares during the period. Institutional investors own 11.12% of the company’s stock.
Several equities analysts recently weighed in on GSK shares. Zacks Investment Research upgraded shares of GlaxoSmithKline from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research report on Tuesday, April 23rd. Shore Capital lowered shares of GlaxoSmithKline from a “buy” rating to a “hold” rating in a research report on Friday, March 8th. Finally, UBS Group lowered shares of GlaxoSmithKline from a “buy” rating to a “neutral” rating in a research report on Friday, February 22nd. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. GlaxoSmithKline has a consensus rating of “Hold” and an average target price of $41.83.
Shares of GSK stock traded up $0.38 during trading hours on Wednesday, hitting $39.77. 62,948 shares of the company’s stock were exchanged, compared to its average volume of 2,749,596. The company has a market capitalization of $97.51 billion, a PE ratio of 12.52, a price-to-earnings-growth ratio of 2.04 and a beta of 0.74. GlaxoSmithKline plc has a 12-month low of $36.41 and a 12-month high of $42.36. The company has a debt-to-equity ratio of 6.92, a quick ratio of 0.48 and a current ratio of 0.72.
GlaxoSmithKline (NYSE:GSK) last posted its quarterly earnings results on Wednesday, May 1st. The pharmaceutical company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.66 by $0.13. The firm had revenue of $9.98 billion for the quarter, compared to the consensus estimate of $9.86 billion. GlaxoSmithKline had a net margin of 12.27% and a return on equity of 171.27%. On average, research analysts predict that GlaxoSmithKline plc will post 2.92 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Friday, May 17th will be paid a dividend of $0.4953 per share. This represents a $1.98 annualized dividend and a dividend yield of 4.98%. The ex-dividend date of this dividend is Thursday, May 16th. GlaxoSmithKline’s dividend payout ratio (DPR) is presently 61.71%.
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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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