Baird Financial Group Inc. Lowers Position in GlaxoSmithKline plc (GSK)
Baird Financial Group Inc. lowered its position in GlaxoSmithKline plc (NYSE:GSK) by 2.0% during the third quarter, HoldingsChannel.com reports. The fund owned 63,049 shares of the pharmaceutical company’s stock after selling 1,288 shares during the quarter. Baird Financial Group Inc.’s holdings in GlaxoSmithKline were worth $2,525,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Summit Securities Group LLC lifted its stake in shares of GlaxoSmithKline by 143.5% during the 3rd quarter. Summit Securities Group LLC now owns 15,100 shares of the pharmaceutical company’s stock worth $607,000 after purchasing an additional 8,900 shares during the period. Brown Advisory Inc. lifted its stake in shares of GlaxoSmithKline by 8.3% during the 3rd quarter. Brown Advisory Inc. now owns 43,366 shares of the pharmaceutical company’s stock worth $1,742,000 after purchasing an additional 3,335 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of GlaxoSmithKline by 2.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,681,711 shares of the pharmaceutical company’s stock worth $67,554,000 after purchasing an additional 41,031 shares during the period. D.A. Davidson & CO. lifted its stake in shares of GlaxoSmithKline by 47.0% during the 3rd quarter. D.A. Davidson & CO. now owns 252,604 shares of the pharmaceutical company’s stock worth $10,147,000 after purchasing an additional 80,777 shares during the period. Finally, Credit Suisse AG lifted its stake in shares of GlaxoSmithKline by 7.4% during the 3rd quarter. Credit Suisse AG now owns 161,244 shares of the pharmaceutical company’s stock worth $6,477,000 after purchasing an additional 11,150 shares during the period. Institutional investors and hedge funds own 10.97% of the company’s stock.
Shares of GSK opened at $37.30 on Monday. The company has a debt-to-equity ratio of 6.66, a quick ratio of 0.63 and a current ratio of 0.95. The firm has a market capitalization of $92.50 billion, a P/E ratio of 12.95, a PEG ratio of 2.50 and a beta of 0.81. GlaxoSmithKline plc has a twelve month low of $34.83 and a twelve month high of $42.36.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 10th. Investors of record on Friday, November 16th will be given a $0.486 dividend. This is a positive change from GlaxoSmithKline’s previous quarterly dividend of $0.46. This represents a $1.94 annualized dividend and a dividend yield of 5.21%. The ex-dividend date is Thursday, November 15th. GlaxoSmithKline’s dividend payout ratio (DPR) is 67.36%.
GSK has been the topic of a number of recent analyst reports. Argus increased their price target on GlaxoSmithKline from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Monday, August 20th. Liberum Capital lowered GlaxoSmithKline from a “buy” rating to a “hold” rating in a research note on Thursday, August 30th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of GlaxoSmithKline in a research note on Tuesday, September 25th. Zacks Investment Research raised GlaxoSmithKline from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research note on Tuesday, September 25th. Finally, Guggenheim initiated coverage on GlaxoSmithKline in a research note on Monday, October 8th. They set a “neutral” rating on the stock. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $41.79.
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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