GlaxoSmithKline plc (GSK) Position Raised by Franklin Resources Inc.
Franklin Resources Inc. lifted its holdings in shares of GlaxoSmithKline plc (NYSE:GSK) by 3.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 177,169 shares of the pharmaceutical company’s stock after buying an additional 5,879 shares during the period. Franklin Resources Inc.’s holdings in GlaxoSmithKline were worth $6,921,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Toronto Dominion Bank lifted its holdings in GlaxoSmithKline by 133.3% in the first quarter. Toronto Dominion Bank now owns 3,150 shares of the pharmaceutical company’s stock valued at $123,000 after acquiring an additional 1,800 shares during the period. Amussen Hunsaker Associates LLC bought a new position in GlaxoSmithKline in the fourth quarter valued at about $141,000. Centaurus Financial Inc. bought a new position in GlaxoSmithKline in the first quarter valued at about $157,000. Quadrant Capital Group LLC lifted its holdings in GlaxoSmithKline by 87.2% in the first quarter. Quadrant Capital Group LLC now owns 4,368 shares of the pharmaceutical company’s stock valued at $158,000 after acquiring an additional 2,035 shares during the period. Finally, Whittier Trust Co. lifted its holdings in GlaxoSmithKline by 71.0% in the first quarter. Whittier Trust Co. now owns 4,520 shares of the pharmaceutical company’s stock valued at $177,000 after acquiring an additional 1,876 shares during the period. 11.09% of the stock is currently owned by institutional investors.
NYSE GSK opened at $41.20 on Wednesday. The company has a debt-to-equity ratio of 3.90, a quick ratio of 0.40 and a current ratio of 0.61. GlaxoSmithKline plc has a 52 week low of $34.52 and a 52 week high of $44.44. The stock has a market capitalization of $102.13 billion, a PE ratio of 14.31, a P/E/G ratio of 2.20 and a beta of 0.83.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 12th. Stockholders of record on Friday, May 11th will be paid a $0.5298 dividend. This represents a $2.12 annualized dividend and a dividend yield of 5.14%. The ex-dividend date of this dividend is Thursday, May 10th. GlaxoSmithKline’s dividend payout ratio (DPR) is currently 72.92%.
A number of research analysts have weighed in on GSK shares. Zacks Investment Research raised GlaxoSmithKline from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a report on Tuesday, March 6th. Morgan Stanley raised GlaxoSmithKline from an “underweight” rating to an “equal weight” rating in a report on Thursday, March 22nd. Cowen reissued a “hold” rating and issued a $40.00 target price on shares of GlaxoSmithKline in a report on Thursday, February 15th. Finally, Deutsche Bank reissued a “neutral” rating on shares of GlaxoSmithKline in a report on Wednesday, March 28th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $40.21.
GlaxoSmithKline plc engages in the creation, discovery, development, manufacture, and marketing of vaccines, over-the-counter medicines, and health-related consumer products worldwide. It operates through four segments: Pharmaceuticals, Pharmaceuticals R&D, Vaccines, and Consumer Healthcare. The company offers pharmaceutical products comprising medicines in the therapeutic areas, such as respiratory, anti-virals, central nervous system, cardiovascular and urogenital, metabolic, anti-bacterials, dermatology, rare diseases, immuno-inflammation, and HIV, as well as vaccines.
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