Forward Management LLC Lowers Stake in GlaxoSmithKline PLC (NYSE:GSK)
Forward Management LLC lowered its stake in GlaxoSmithKline PLC (NYSE:GSK) by 15.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,134 shares of the pharmaceutical company’s stock after selling 8,705 shares during the period. Forward Management LLC’s holdings in GlaxoSmithKline PLC were worth $2,119,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of GSK. Fox Run Management L.L.C. bought a new stake in shares of GlaxoSmithKline PLC during the first quarter valued at about $649,000. BLB&B Advisors LLC increased its stake in shares of GlaxoSmithKline PLC by 7.5% in the first quarter. BLB&B Advisors LLC now owns 69,947 shares of the pharmaceutical company’s stock valued at $2,949,000 after buying an additional 4,880 shares in the last quarter. Integrated Wealth Management bought a new stake in shares of GlaxoSmithKline PLC during the first quarter valued at about $208,000. Atria Investments LLC increased its stake in shares of GlaxoSmithKline PLC by 1.8% in the first quarter. Atria Investments LLC now owns 16,523 shares of the pharmaceutical company’s stock valued at $697,000 after buying an additional 290 shares in the last quarter. Finally, Winslow Evans & Crocker Inc. increased its stake in shares of GlaxoSmithKline PLC by 4.7% in the first quarter. Winslow Evans & Crocker Inc. now owns 7,754 shares of the pharmaceutical company’s stock valued at $327,000 after buying an additional 350 shares in the last quarter. 8.96% of the stock is owned by institutional investors.
Shares of GlaxoSmithKline PLC (GSK) opened at 38.90 on Friday. The firm has a market cap of $95.07 billion, a PE ratio of 37.62 and a beta of 1.03. GlaxoSmithKline PLC has a 52 week low of $37.20 and a 52 week high of $44.59. The firm has a 50-day moving average of $41.99 and a 200-day moving average of $41.84.
GlaxoSmithKline PLC (NYSE:GSK) last posted its earnings results on Wednesday, July 26th. The pharmaceutical company reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.02. GlaxoSmithKline PLC had a net margin of 6.48% and a return on equity of 114.93%. The firm had revenue of $9.36 billion during the quarter, compared to analyst estimates of $9.52 billion. On average, analysts expect that GlaxoSmithKline PLC will post $2.85 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 12th. Stockholders of record on Friday, August 11th will be paid a $0.491 dividend. This is a positive change from GlaxoSmithKline PLC’s previous quarterly dividend of $0.46. The ex-dividend date is Wednesday, August 9th. This represents a $1.96 annualized dividend and a dividend yield of 5.05%. GlaxoSmithKline PLC’s dividend payout ratio is presently 197.00%.
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Several equities research analysts have recently issued reports on the stock. ValuEngine downgraded shares of GlaxoSmithKline PLC from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of GlaxoSmithKline PLC in a research report on Friday, June 16th. TheStreet raised shares of GlaxoSmithKline PLC from a “c” rating to a “b” rating in a research report on Friday, May 19th. Citigroup Inc. downgraded shares of GlaxoSmithKline PLC from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 5th. Finally, Zacks Investment Research downgraded shares of GlaxoSmithKline PLC from a “buy” rating to a “hold” rating in a research report on Friday, July 21st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $46.00.
About GlaxoSmithKline PLC
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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