Kayne Anderson Rudnick Investment Management LLC reduced its holdings in GlaxoSmithKline PLC (NYSE:GSK) by 3.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 421,324 shares of the pharmaceutical company’s stock after selling 13,811 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in GlaxoSmithKline PLC were worth $17,106,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of GSK. Proficio Capital Partners LLC grew its stake in GlaxoSmithKline PLC by 16.1% in the second quarter. Proficio Capital Partners LLC now owns 3,301 shares of the pharmaceutical company’s stock valued at $135,000 after acquiring an additional 457 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in GlaxoSmithKline PLC by 1.9% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 3,374 shares of the pharmaceutical company’s stock valued at $137,000 after acquiring an additional 64 shares during the period. FTB Advisors Inc. grew its stake in GlaxoSmithKline PLC by 16.9% in the second quarter. FTB Advisors Inc. now owns 3,735 shares of the pharmaceutical company’s stock valued at $146,000 after acquiring an additional 539 shares during the period. Quadrant Capital Group LLC grew its stake in GlaxoSmithKline PLC by 3.5% in the second quarter. Quadrant Capital Group LLC now owns 4,345 shares of the pharmaceutical company’s stock valued at $162,000 after acquiring an additional 148 shares during the period. Finally, Parallel Advisors LLC grew its stake in GlaxoSmithKline PLC by 93.4% in the second quarter. Parallel Advisors LLC now owns 4,048 shares of the pharmaceutical company’s stock valued at $164,000 after acquiring an additional 1,955 shares during the period. Institutional investors and hedge funds own 9.32% of the company’s stock.

Shares of GlaxoSmithKline PLC (GSK) traded down $0.18 during trading hours on Friday, hitting $35.01. The company had a trading volume of 796,282 shares, compared to its average volume of 3,443,574. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.44 and a current ratio of 0.64. GlaxoSmithKline PLC has a one year low of $34.72 and a one year high of $44.53. The stock has a market capitalization of $84,930.00, a PE ratio of 12.37, a price-to-earnings-growth ratio of 1.93 and a beta of 1.00.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 11th. Shareholders of record on Friday, November 10th will be given a $0.5037 dividend. The ex-dividend date is Thursday, November 9th. This represents a $2.01 annualized dividend and a yield of 5.75%. This is a boost from GlaxoSmithKline PLC’s previous quarterly dividend of $0.49. GlaxoSmithKline PLC’s payout ratio is currently 159.20%.

In other GlaxoSmithKline PLC news, major shareholder Plc Glaxosmithkline acquired 428,571 shares of the business’s stock in a transaction on Monday, November 6th. The shares were acquired at an average price of $14.00 per share, with a total value of $5,999,994.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 10.00% of the stock is currently owned by insiders.

A number of equities research analysts have commented on the company. J P Morgan Chase & Co reissued a “neutral” rating on shares of GlaxoSmithKline PLC in a research note on Thursday, September 21st. BidaskClub cut GlaxoSmithKline PLC from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. Investec cut GlaxoSmithKline PLC from a “buy” rating to a “hold” rating in a research note on Monday, November 6th. TheStreet cut GlaxoSmithKline PLC from a “b” rating to a “c+” rating in a research note on Wednesday, July 26th. Finally, Citigroup Inc. reissued a “neutral” rating on shares of GlaxoSmithKline PLC in a research note on Thursday, July 27th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the stock. GlaxoSmithKline PLC has an average rating of “Hold” and an average price target 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.

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

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