Garrison Financial Corp reduced its position in shares of GlaxoSmithKline PLC (NYSE:GSK) by 32.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,494 shares of the pharmaceutical company’s stock after selling 3,100 shares during the period. Garrison Financial Corp’s holdings in GlaxoSmithKline PLC were worth $281,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cribstone Capital Management LLC acquired a new stake in shares of GlaxoSmithKline PLC during the second quarter valued at approximately $117,000. Williams Jones & Associates LLC acquired a new stake in shares of GlaxoSmithKline PLC during the first quarter valued at approximately $161,000. LS Investment Advisors LLC increased its stake in shares of 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. Cape Cod Five Cents Savings Bank acquired a new stake in shares of GlaxoSmithKline PLC during the second quarter valued at approximately $201,000. Finally, Forester Capital Management LTD increased its stake in shares of GlaxoSmithKline PLC by 69.6% in the first quarter. Forester Capital Management LTD now owns 4,630 shares of the pharmaceutical company’s stock valued at $214,000 after buying an additional 1,900 shares during the last quarter. 8.79% of the stock is currently owned by institutional investors.
Shares of GlaxoSmithKline PLC (NYSE:GSK) traded up 0.54% during trading on Friday, hitting $43.13. The stock had a trading volume of 2,598,392 shares. The company has a market capitalization of $104.83 billion, a P/E ratio of 2695.62 and a beta of 0.85. The firm has a 50-day moving average of $43.61 and a 200 day moving average of $42.73. GlaxoSmithKline PLC has a 1-year low of $37.82 and a 1-year high of $45.58.
The firm also recently disclosed a dividend, which will be paid on Thursday, October 13th. Investors of record on Friday, August 12th will be issued a $0.494 dividend. The ex-dividend date of this dividend is Wednesday, August 10th. GlaxoSmithKline PLC’s dividend payout ratio (DPR) is presently 6,600.00%.
GSK has been the topic of several research analyst reports. Citigroup Inc. reaffirmed a “buy” rating on shares of GlaxoSmithKline PLC in a research note on Wednesday, July 27th. HSBC reaffirmed a “buy” rating on shares of GlaxoSmithKline PLC in a research note on Monday, September 12th. Zacks Investment Research raised GlaxoSmithKline PLC from a “sell” rating to a “hold” rating in a research note on Monday, July 25th. Shore Capital reaffirmed a “hold” rating on shares of GlaxoSmithKline PLC in a research note on Wednesday, August 17th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of GlaxoSmithKline PLC in a research note on Thursday, September 22nd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $47.86.
GlaxoSmithKline PLC Company Profile
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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