Heritage Investors Management Corp acquired a new position in GlaxoSmithKline plc (NYSE:GSK) in the third quarter, HoldingsChannel reports. The institutional investor acquired 5,355 shares of the pharmaceutical company’s stock, valued at approximately $215,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GSK. Renaissance Technologies LLC raised its holdings in GlaxoSmithKline by 15.0% in the second quarter. Renaissance Technologies LLC now owns 9,329,400 shares of the pharmaceutical company’s stock worth $376,068,000 after purchasing an additional 1,216,600 shares in the last quarter. Morgan Stanley raised its holdings in GlaxoSmithKline by 19.6% in the second quarter. Morgan Stanley now owns 3,615,525 shares of the pharmaceutical company’s stock worth $145,742,000 after purchasing an additional 592,022 shares in the last quarter. South Texas Money Management Ltd. bought a new position in GlaxoSmithKline in the second quarter worth $22,195,000. Cornerstone Wealth Management LLC raised its holdings in GlaxoSmithKline by 4,021.2% in the second quarter. Cornerstone Wealth Management LLC now owns 354,667 shares of the pharmaceutical company’s stock worth $8,841,000 after purchasing an additional 346,061 shares in the last quarter. Finally, BlackRock Inc. raised its holdings in GlaxoSmithKline by 23.6% in the second quarter. BlackRock Inc. now owns 1,577,096 shares of the pharmaceutical company’s stock worth $63,573,000 after purchasing an additional 301,154 shares in the last quarter. Institutional investors and hedge funds own 11.01% of the company’s stock.

Shares of NYSE:GSK opened at $41.30 on Friday. GlaxoSmithKline plc has a 1-year low of $34.52 and a 1-year high of $42.36. The company has a quick ratio of 0.63, a current ratio of 0.95 and a debt-to-equity ratio of 6.66. The firm has a market cap of $101.21 billion, a PE ratio of 13.60, a P/E/G ratio of 2.74 and a beta of 0.80.

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 10th. Stockholders of record on Friday, November 16th will be issued a dividend of $0.486 per share. The ex-dividend date is Thursday, November 15th. This is an increase from GlaxoSmithKline’s previous quarterly dividend of $0.46. This represents a $1.94 annualized dividend and a dividend yield of 4.71%. GlaxoSmithKline’s dividend payout ratio (DPR) is presently 68.06%.

A number of research firms have issued reports on GSK. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of GlaxoSmithKline in a report on Monday, October 29th. Wolfe Research began coverage on GlaxoSmithKline in a report on Tuesday, October 23rd. They issued a “market perform” rating for the company. ValuEngine upgraded GlaxoSmithKline from a “sell” rating to a “hold” rating in a report on Friday, October 19th. Goldman Sachs Group restated a “buy” rating on shares of GlaxoSmithKline in a report on Wednesday, October 10th. Finally, Guggenheim initiated coverage on GlaxoSmithKline in a report on Monday, October 8th. They set a “neutral” rating for the company. Eleven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $41.57.

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About GlaxoSmithKline

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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Institutional Ownership by Quarter for GlaxoSmithKline (NYSE:GSK)

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