GlaxoSmithKline PLC (NYSE:GSK) shares gapped up before the market opened on Wednesday . The stock had previously closed at $43.69, but opened at $43.71. GlaxoSmithKline PLC shares last traded at $44.11, with a volume of 1,523,408 shares changing hands.

A number of research analysts have issued reports on GSK shares. Citigroup Inc. reissued a “buy” rating on shares of GlaxoSmithKline PLC in a research report on Wednesday, May 25th. Bank of America Corp. reissued a “buy” rating and set a $48.00 price objective on shares of GlaxoSmithKline PLC in a research report on Wednesday, June 22nd. Beaufort Securities reissued a “buy” rating on shares of GlaxoSmithKline PLC in a research report on Tuesday, June 21st. JPMorgan Chase & Co. reissued a “neutral” rating on shares of GlaxoSmithKline PLC in a research report on Wednesday, April 13th. Finally, Shore Capital reissued a “hold” rating on shares of GlaxoSmithKline PLC in a research report on Tuesday. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $46.86.

The stock’s 50-day moving average is $42.39 and its 200-day moving average is $41.27. The company has a market cap of $107.12 billion and a price-to-earnings ratio of 132.04.

The firm also recently declared a dividend, which was paid on Thursday, July 14th. Stockholders of record on Friday, May 13th were issued a $0.549 dividend. The ex-dividend date was Wednesday, May 11th.

A number of institutional investors have recently modified their holdings of GSK. Morgan Stanley boosted its position in shares of GlaxoSmithKline PLC by 5.8% in the fourth quarter. Morgan Stanley now owns 4,839,818 shares of the pharmaceutical company’s stock valued at $195,287,000 after buying an additional 266,738 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of GlaxoSmithKline PLC by 5.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,255,017 shares of the pharmaceutical company’s stock valued at $50,640,000 after buying an additional 59,355 shares in the last quarter. Haverford Trust Co. boosted its position in shares of GlaxoSmithKline PLC by 0.6% in the fourth quarter. Haverford Trust Co. now owns 708,732 shares of the pharmaceutical company’s stock valued at $28,597,000 after buying an additional 3,995 shares in the last quarter. US Bancorp DE boosted its position in shares of GlaxoSmithKline PLC by 6.1% in the fourth quarter. US Bancorp DE now owns 384,500 shares of the pharmaceutical company’s stock valued at $15,514,000 after buying an additional 22,162 shares in the last quarter. Finally, Stephens Inc. AR boosted its position in shares of GlaxoSmithKline PLC by 8.5% in the fourth quarter. Stephens Inc. AR now owns 304,194 shares of the pharmaceutical company’s stock valued at $12,274,000 after buying an additional 23,786 shares in the last quarter.

GlaxoSmithKline plc. (GSK) is a healthcare company that researches and develops pharmaceuticals, vaccines and consumer healthcare products. The Company operates in two segments: Pharmaceuticals and Vaccines, and Consumer Healthcare. The Pharmaceuticals segment develops and makes medicines to treat a range of acute and chronic diseases.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.