National Planning Corp raised its stake in GlaxoSmithKline PLC (NYSE:GSK) by 19.1% during the second quarter, Holdings Channel reports. The firm owned 12,561 shares of the pharmaceutical company’s stock after buying an additional 2,013 shares during the period. National Planning Corp’s holdings in GlaxoSmithKline PLC were worth $537,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of GSK. Wetherby Asset Management Inc. increased its position in shares of GlaxoSmithKline PLC by 6.2% in the second quarter. Wetherby Asset Management Inc. now owns 25,842 shares of the pharmaceutical company’s stock valued at $1,114,000 after buying an additional 1,506 shares during the period. Pointe Capital Management LLC acquired a new position in shares of GlaxoSmithKline PLC during the second quarter valued at $285,000. Seaward Management Limited Partnership increased its position in shares of GlaxoSmithKline PLC by 4.8% in the second quarter. Seaward Management Limited Partnership now owns 5,785 shares of the pharmaceutical company’s stock valued at $249,000 after buying an additional 266 shares during the period. Pioneer Investment Management Inc. increased its position in shares of GlaxoSmithKline PLC by 15.2% in the second quarter. Pioneer Investment Management Inc. now owns 623,997 shares of the pharmaceutical company’s stock valued at $26,907,000 after buying an additional 82,472 shares during the period. Finally, Financial Advisory Service Inc. increased its position in shares of GlaxoSmithKline PLC by 1.1% in the second quarter. Financial Advisory Service Inc. now owns 15,341 shares of the pharmaceutical company’s stock valued at $662,000 after buying an additional 160 shares during the period. Institutional investors own 8.96% of the company’s stock.

Shares of GlaxoSmithKline PLC (NYSE:GSK) opened at 38.79 on Friday. GlaxoSmithKline PLC has a 52 week low of $37.20 and a 52 week high of $44.59. The firm has a market cap of $94.80 billion, a PE ratio of 37.51 and a beta of 1.03. The stock’s 50 day moving average is $41.84 and its 200-day moving average is $41.84.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 12th. Investors of record on Friday, August 11th will be issued a dividend of $0.491 per share. This represents a $1.96 dividend on an annualized basis and a yield of 5.06%. The ex-dividend date of this dividend is Wednesday, August 9th. This is a positive change from GlaxoSmithKline PLC’s previous quarterly dividend of $0.46. GlaxoSmithKline PLC’s dividend payout ratio is currently 197.00%.

WARNING: “National Planning Corp Raises Stake in GlaxoSmithKline PLC (NYSE:GSK)” was first reported by Daily Political and is the property of of Daily Political. If you are accessing this piece on another site, it was stolen and reposted in violation of U.S. and international copyright and trademark law. The original version of this piece can be read at https://www.dailypolitical.com/2017/08/13/national-planning-corp-raises-stake-in-glaxosmithkline-plc-nysegsk.html.

Several equities analysts recently weighed in on the stock. TheStreet downgraded shares of 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 downgraded shares of GlaxoSmithKline PLC from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. J P Morgan Chase & Co reiterated a “neutral” rating on shares of GlaxoSmithKline PLC in a report on Monday, July 24th. Finally, Zacks Investment Research downgraded shares of GlaxoSmithKline PLC from a “buy” rating to a “hold” rating in a report on Friday, July 21st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $44.67.

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.

Want to see what other hedge funds are holding GSK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GlaxoSmithKline PLC (NYSE:GSK).

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

Receive News & Ratings for GlaxoSmithKline PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GlaxoSmithKline PLC and related companies with MarketBeat.com's FREE daily email newsletter.