BB&T Corp boosted its stake in shares of GlaxoSmithKline PLC (NYSE:GSK) by 16.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 255,256 shares of the pharmaceutical company’s stock after buying an additional 36,687 shares during the period. BB&T Corp’s holdings in GlaxoSmithKline PLC were worth $11,063,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Cribstone Capital Management LLC purchased a new position in GlaxoSmithKline PLC during the second quarter valued at $117,000. Quadrant Capital Group LLC increased its position in GlaxoSmithKline PLC by 6.4% in the second quarter. Quadrant Capital Group LLC now owns 2,725 shares of the pharmaceutical company’s stock valued at $111,000 after buying an additional 163 shares during the last quarter. Signaturefd LLC increased its position in GlaxoSmithKline PLC by 25.2% in the second quarter. Signaturefd LLC now owns 3,020 shares of the pharmaceutical company’s stock valued at $131,000 after buying an additional 607 shares during the last quarter. Williams Jones & Associates LLC purchased a new position in GlaxoSmithKline PLC during the first quarter valued at $161,000. Finally, LS Investment Advisors LLC increased its position in GlaxoSmithKline PLC by 167.5% in the second quarter. LS Investment Advisors LLC now owns 4,280 shares of the pharmaceutical company’s stock valued at $185,000 after buying an additional 2,680 shares during the last quarter. 8.80% of the stock is owned by hedge funds and other institutional investors.
Shares of GlaxoSmithKline PLC (NYSE:GSK) traded down 0.45% during trading on Wednesday, reaching $41.57. The company’s stock had a trading volume of 1,388,162 shares. GlaxoSmithKline PLC has a 1-year low of $37.82 and a 1-year high of $45.58. The company’s 50-day moving average price is $43.03 and its 200 day moving average price is $42.98. The stock has a market capitalization of $101.04 billion, a price-to-earnings ratio of 2598.12 and a beta of 0.89.
The company also recently declared a dividend, which was paid on Thursday, October 13th. Shareholders of record on Friday, August 12th were issued a dividend of $0.494 per share. The ex-dividend date was Wednesday, August 10th. GlaxoSmithKline PLC’s dividend payout ratio (DPR) is 6,166.67%.
Several equities analysts recently weighed in on the company. Citigroup Inc. reaffirmed a “buy” rating on shares of GlaxoSmithKline PLC in a research note on Thursday, June 23rd. Beaufort Securities restated a “buy” rating on shares of GlaxoSmithKline PLC in a report on Tuesday, June 21st. HSBC restated a “buy” rating on shares of GlaxoSmithKline PLC in a report on Monday, September 12th. JPMorgan Chase & Co. restated a “neutral” rating on shares of GlaxoSmithKline PLC in a report on Wednesday. Finally, Shore Capital restated a “hold” rating on shares of GlaxoSmithKline PLC in a report on Tuesday, June 21st. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $47.86.
About GlaxoSmithKline PLC
GlaxoSmithKline plc (GSK) is a healthcare company. The Company is engaged in the creation and discovery, development, manufacture and marketing of pharmaceutical products, including vaccines, over-the-counter (OTC) medicines and health-related consumer products. The Company’s segments include Pharmaceuticals, Pharmaceuticals R&D, Vaccines and Consumer Healthcare.
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