Janney Montgomery Scott LLC grew its stake in GlaxoSmithKline plc (NYSE:GSK) by 0.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 363,777 shares of the pharmaceutical company’s stock after buying an additional 2,835 shares during the period. Janney Montgomery Scott LLC’s holdings in GlaxoSmithKline were worth $14,613,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Renaissance Technologies LLC boosted its position in shares of GlaxoSmithKline by 15.0% during the 2nd quarter. Renaissance Technologies LLC now owns 9,329,400 shares of the pharmaceutical company’s stock valued at $376,068,000 after purchasing an additional 1,216,600 shares in the last quarter. Morgan Stanley boosted its position in shares of GlaxoSmithKline by 19.6% during the 2nd quarter. Morgan Stanley now owns 3,615,525 shares of the pharmaceutical company’s stock valued at $145,742,000 after purchasing an additional 592,022 shares in the last quarter. South Texas Money Management Ltd. bought a new stake in shares of GlaxoSmithKline during the 2nd quarter valued at about $22,195,000. Cornerstone Wealth Management LLC boosted its position in shares of GlaxoSmithKline by 4,021.2% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 354,667 shares of the pharmaceutical company’s stock valued at $8,841,000 after purchasing an additional 346,061 shares in the last quarter. Finally, BlackRock Inc. boosted its position in shares of GlaxoSmithKline by 23.6% during the 2nd quarter. BlackRock Inc. now owns 1,577,096 shares of the pharmaceutical company’s stock valued at $63,573,000 after purchasing an additional 301,154 shares in the last quarter. 11.01% of the stock is owned by institutional investors.

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

Shares of NYSE:GSK opened at $41.30 on Friday. The company has a market capitalization of $101.21 billion, a price-to-earnings ratio of 13.60, a PEG ratio of 2.74 and a beta of 0.80. The company has a debt-to-equity ratio of 6.66, a quick ratio of 0.63 and a current ratio of 0.95. GlaxoSmithKline plc has a 52-week low of $34.52 and a 52-week high of $42.36.

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 10th. Shareholders of record on Friday, November 16th will be issued a $0.486 dividend. The ex-dividend date is Thursday, November 15th. This represents a $1.94 annualized dividend and a yield of 4.71%. This is a positive change from GlaxoSmithKline’s previous quarterly dividend of $0.46. GlaxoSmithKline’s dividend payout ratio is presently 68.06%.

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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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