Oak Associates Ltd. OH Buys 22,395 Shares of GlaxoSmithKline PLC (GSK)
Oak Associates Ltd. OH raised its stake in GlaxoSmithKline PLC (NYSE:GSK) by 7.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 333,695 shares of the pharmaceutical company’s stock after acquiring an additional 22,395 shares during the period. Oak Associates Ltd. OH’s holdings in GlaxoSmithKline PLC were worth $13,548,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GSK. Geode Capital Management LLC grew its stake in shares of GlaxoSmithKline PLC by 46.3% in the first quarter. Geode Capital Management LLC now owns 129,145 shares of the pharmaceutical company’s stock worth $5,444,000 after acquiring an additional 40,858 shares during the last quarter. City Holding Co. grew its stake in shares of GlaxoSmithKline PLC by 12.7% in the second quarter. City Holding Co. now owns 45,342 shares of the pharmaceutical company’s stock worth $1,955,000 after acquiring an additional 5,094 shares during the last quarter. Alta Capital Management LLC grew its stake in shares of GlaxoSmithKline PLC by 2.2% in the second quarter. Alta Capital Management LLC now owns 26,886 shares of the pharmaceutical company’s stock worth $1,159,000 after acquiring an additional 568 shares during the last quarter. Fulton Bank N.A. grew its stake in shares of GlaxoSmithKline PLC by 3.0% in the second quarter. Fulton Bank N.A. now owns 71,754 shares of the pharmaceutical company’s stock worth $3,094,000 after acquiring an additional 2,083 shares during the last quarter. Finally, Confluence Investment Management LLC boosted its position in shares of GlaxoSmithKline PLC by 7.8% during the second quarter. Confluence Investment Management LLC now owns 1,930,597 shares of the pharmaceutical company’s stock valued at $83,247,000 after buying an additional 140,413 shares during the last quarter. 9.32% of the stock is currently owned by hedge funds and other institutional investors.
GlaxoSmithKline PLC (NYSE:GSK) traded down $0.11 during mid-day trading on Wednesday, reaching $34.98. The company’s stock had a trading volume of 4,431,100 shares, compared to its average volume of 3,436,994. GlaxoSmithKline PLC has a 52 week low of $34.86 and a 52 week high of $44.53. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.44 and a current ratio of 0.64. The company has a market capitalization of $86,298.28, a P/E ratio of 12.44, a price-to-earnings-growth ratio of 1.94 and a beta of 1.00.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 11th. Shareholders of record on Friday, November 10th will be issued a $0.5037 dividend. This is an increase from GlaxoSmithKline PLC’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $2.01 dividend on an annualized basis and a yield of 5.76%. GlaxoSmithKline PLC’s dividend payout ratio is currently 163.12%.
In other news, major shareholder Plc Glaxosmithkline bought 428,571 shares of the stock in a transaction on Monday, November 6th. The shares were bought at an average price of $14.00 per share, with a total value of $5,999,994.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 10.00% of the stock is currently owned by corporate insiders.
Several equities research analysts recently commented on GSK shares. Zacks Investment Research raised GlaxoSmithKline PLC from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a research report on Wednesday, October 18th. Morgan Stanley cut GlaxoSmithKline PLC from an “equal weight” rating to an “underweight” rating in a research report on Friday, September 8th. Argus reaffirmed a “buy” rating and set a $50.00 price objective on shares of GlaxoSmithKline PLC in a research report on Thursday, August 31st. TheStreet raised GlaxoSmithKline PLC from a “c+” rating to a “b” rating in a research report on Wednesday, October 25th. Finally, BidaskClub raised GlaxoSmithKline PLC from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $44.33.
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GlaxoSmithKline PLC 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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