GlaxoSmithKline plc (GSK) Shares Sold by Hourglass Capital LLC
Hourglass Capital LLC cut its holdings in GlaxoSmithKline plc (NYSE:GSK) by 8.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 150,224 shares of the pharmaceutical company’s stock after selling 14,375 shares during the period. GlaxoSmithKline accounts for 1.6% of Hourglass Capital LLC’s holdings, making the stock its 27th biggest holding. Hourglass Capital LLC’s holdings in GlaxoSmithKline were worth $6,034,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of New York Mellon Corp increased its position in shares of GlaxoSmithKline by 1,788.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,306,091 shares of the pharmaceutical company’s stock valued at $92,636,000 after purchasing an additional 2,183,983 shares during the last quarter. Crossmark Global Holdings Inc. increased its position in shares of GlaxoSmithKline by 66.8% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 61,124 shares of the pharmaceutical company’s stock valued at $2,455,000 after purchasing an additional 24,480 shares during the last quarter. Rational Advisors LLC increased its position in shares of GlaxoSmithKline by 62.1% during the 3rd quarter. Rational Advisors LLC now owns 15,140 shares of the pharmaceutical company’s stock valued at $608,000 after purchasing an additional 5,800 shares during the last quarter. South Texas Money Management Ltd. increased its position in shares of GlaxoSmithKline by 9.0% during the 3rd quarter. South Texas Money Management Ltd. now owns 599,893 shares of the pharmaceutical company’s stock valued at $24,098,000 after purchasing an additional 49,281 shares during the last quarter. Finally, Eagle Asset Management Inc. increased its position in shares of GlaxoSmithKline by 22.9% during the 3rd quarter. Eagle Asset Management Inc. now owns 35,402 shares of the pharmaceutical company’s stock valued at $1,380,000 after purchasing an additional 6,593 shares during the last quarter. 10.87% of the stock is currently owned by institutional investors.
GSK has been the topic of several analyst reports. JPMorgan Chase & Co. reissued a “neutral” rating on shares of GlaxoSmithKline in a research report on Tuesday, September 25th. Wolfe Research assumed coverage on GlaxoSmithKline in a report on Tuesday, October 23rd. They set a “market perform” rating for the company. Zacks Investment Research upgraded GlaxoSmithKline from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a report on Tuesday, September 25th. ValuEngine upgraded GlaxoSmithKline from a “sell” rating to a “hold” rating in a report on Friday, October 19th. Finally, Liberum Capital cut GlaxoSmithKline from a “buy” rating to a “hold” rating in a report on Thursday, August 30th. Eleven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. GlaxoSmithKline presently has an average rating of “Hold” and an average target price of $41.57.
GlaxoSmithKline (NYSE:GSK) last issued its earnings results on Wednesday, October 31st. The pharmaceutical company reported $0.83 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by ($0.03). GlaxoSmithKline had a return on equity of 164.99% and a net margin of 5.78%. The firm had revenue of $9.41 billion during the quarter, compared to analysts’ expectations of $10.55 billion. As a group, research analysts forecast that GlaxoSmithKline plc will post 2.98 earnings per share for the current fiscal year.
The company also recently announced 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. This represents a $1.94 annualized dividend and a dividend yield of 4.82%. This is a boost from GlaxoSmithKline’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Thursday, November 15th. GlaxoSmithKline’s dividend payout ratio is currently 67.36%.
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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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