Palladium Partners LLC cut its position in GlaxoSmithKline PLC (NYSE:GSK) by 22.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,051 shares of the pharmaceutical company’s stock after selling 2,000 shares during the period. Palladium Partners LLC’s holdings in GlaxoSmithKline PLC were worth $304,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of GSK. First Bank & Trust increased its position in GlaxoSmithKline PLC by 3.2% in the second quarter. First Bank & Trust now owns 36,867 shares of the pharmaceutical company’s stock worth $1,589,000 after buying an additional 1,156 shares during the period. Bowen Hanes & Co. Inc. increased its position in GlaxoSmithKline PLC by 7.8% in the second quarter. Bowen Hanes & Co. Inc. now owns 19,358 shares of the pharmaceutical company’s stock worth $835,000 after buying an additional 1,400 shares during the period. IFP Advisors Inc increased its position in GlaxoSmithKline PLC by 5.3% in the second quarter. IFP Advisors Inc now owns 42,988 shares of the pharmaceutical company’s stock worth $1,854,000 after buying an additional 2,147 shares during the period. Rand Wealth LLC increased its position in GlaxoSmithKline PLC by 8.0% in the second quarter. Rand Wealth LLC now owns 5,550 shares of the pharmaceutical company’s stock worth $239,000 after buying an additional 410 shares during the period. Finally, Stratos Wealth Partners LTD. increased its position in GlaxoSmithKline PLC by 7.1% in the second quarter. Stratos Wealth Partners LTD. now owns 22,453 shares of the pharmaceutical company’s stock worth $968,000 after buying an additional 1,482 shares during the period. Institutional investors and hedge funds own 8.96% of the company’s stock.

Shares of GlaxoSmithKline PLC (GSK) opened at 40.30 on Tuesday. GlaxoSmithKline PLC has a 52-week low of $37.20 and a 52-week high of $44.93. The company’s 50 day moving average price is $42.68 and its 200 day moving average price is $41.84. The stock has a market capitalization of $98.49 billion, a PE ratio of 39.74 and a beta of 1.03.

GlaxoSmithKline PLC (NYSE:GSK) last released its quarterly earnings results on Wednesday, July 26th. The pharmaceutical company reported $0.70 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.02. The firm had revenue of $9.36 billion during the quarter, compared to analyst estimates of $9.52 billion. GlaxoSmithKline PLC had a return on equity of 114.93% and a net margin of 6.48%. On average, equities research analysts anticipate that GlaxoSmithKline PLC will post $2.85 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 12th. Investors of record on Friday, August 11th will be given a dividend of $0.491 per share. This is a positive change from GlaxoSmithKline PLC’s previous quarterly dividend of $0.46. This represents a $1.96 annualized dividend and a yield of 4.87%. The ex-dividend date of this dividend is Wednesday, August 9th. GlaxoSmithKline PLC’s dividend payout ratio is currently 194.00%.

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A number of equities analysts have issued reports on the company. TheStreet downgraded GlaxoSmithKline PLC from a “b” rating to a “c+” rating in a report on Wednesday, July 26th. Citigroup Inc. reiterated a “neutral” rating on shares of GlaxoSmithKline PLC in a report on Thursday, July 27th. BidaskClub cut GlaxoSmithKline PLC from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. J P Morgan Chase & Co reissued a “neutral” rating on shares of GlaxoSmithKline PLC in a research note on Monday, July 24th. Finally, Zacks Investment Research cut GlaxoSmithKline PLC from a “buy” rating to a “hold” rating in a research note on Friday, July 21st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $46.00.

GlaxoSmithKline PLC Company Profile

GlaxoSmithKline plc is a global healthcare company. The Company operates through three segments: Pharmaceuticals, Vaccines and Consumer Healthcare. The Company focuses on its research across six areas: Respiratory diseases, human immunodeficiency virus (HIV)/infectious diseases, Vaccines, Immuno-inflammation, Oncology and Rare diseases.

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Institutional Ownership by Quarter for GlaxoSmithKline PLC (NYSE:GSK)

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