GlaxoSmithKline PLC’s (GSK) Buy Rating Reaffirmed at Bank of America Corp.
Bank of America Corp. restated their buy rating on shares of GlaxoSmithKline PLC (NYSE:GSK) in a report released on Tuesday. The brokerage currently has a $50.00 price target on the pharmaceutical company’s stock.
Several other research analysts have also commented on the company. Beaufort Securities reiterated a buy rating on shares of GlaxoSmithKline PLC in a report on Friday, September 16th. JPMorgan Chase & Co. reiterated a neutral rating on shares of GlaxoSmithKline PLC in a report on Friday, September 16th. Jefferies Group reiterated a buy rating on shares of GlaxoSmithKline PLC in a report on Wednesday, September 14th. BNP Paribas lowered GlaxoSmithKline PLC from a neutral rating to an underperform rating in a report on Tuesday, September 13th. Finally, HSBC reiterated a buy rating on shares of GlaxoSmithKline PLC in a report on Monday, September 12th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. GlaxoSmithKline PLC has an average rating of Hold and an average target price of $47.53.
Shares of GlaxoSmithKline PLC (NYSE:GSK) opened at 43.06 on Tuesday. The company has a 50-day moving average of $43.91 and a 200-day moving average of $42.60. The stock has a market capitalization of $104.66 billion, a price-to-earnings ratio of 2691.25 and a beta of 0.85. GlaxoSmithKline PLC has a 1-year low of $37.24 and a 1-year high of $45.58.
The business also recently disclosed a dividend, which will be paid on Thursday, October 13th. Stockholders of record on Friday, August 12th will be given a dividend of $0.494 per share. The ex-dividend date is Wednesday, August 10th. GlaxoSmithKline PLC’s dividend payout ratio is presently 6,600.00%.
Several institutional investors have recently made changes to their positions in GSK. Sanders Morris Harris Inc. bought a new position in shares of GlaxoSmithKline PLC during the first quarter worth approximately $1,097,000. Investment Centers of America Inc. boosted its stake in GlaxoSmithKline PLC by 3.5% in the first quarter. Investment Centers of America Inc. now owns 72,405 shares of the pharmaceutical company’s stock valued at $2,931,000 after buying an additional 2,453 shares during the last quarter. Union Bankshares Corp acquired a new stake in GlaxoSmithKline PLC during the second quarter valued at $208,000. Mckinley Capital Management LLC Delaware boosted its stake in GlaxoSmithKline PLC by 47.1% in the first quarter. Mckinley Capital Management LLC Delaware now owns 10,733 shares of the pharmaceutical company’s stock valued at $435,000 after buying an additional 3,439 shares during the last quarter. Finally, Loomis Sayles & Co. L P boosted its stake in GlaxoSmithKline PLC by 60.6% in the first quarter. Loomis Sayles & Co. L P now owns 20,631 shares of the pharmaceutical company’s stock valued at $837,000 after buying an additional 7,788 shares during the last quarter. 8.79% of the stock is owned by institutional investors and hedge funds.
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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