Avalon Advisors LLC Has $20.49 Million Stake in GlaxoSmithKline plc (GSK)
Avalon Advisors LLC grew its stake in GlaxoSmithKline plc (NYSE:GSK) by 1.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 536,197 shares of the pharmaceutical company’s stock after acquiring an additional 6,966 shares during the period. Avalon Advisors LLC’s holdings in GlaxoSmithKline were worth $20,488,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in GSK. Bank of New York Mellon Corp grew its holdings in shares of GlaxoSmithKline by 1,788.6% in 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 acquiring an additional 2,183,983 shares in the last quarter. Boston Partners bought a new position in shares of GlaxoSmithKline in the 4th quarter valued at about $65,234,000. Renaissance Technologies LLC grew its holdings in shares of GlaxoSmithKline by 8.6% in the 3rd quarter. Renaissance Technologies LLC now owns 10,135,200 shares of the pharmaceutical company’s stock valued at $407,131,000 after acquiring an additional 805,800 shares in the last quarter. Eaton Vance Management grew its holdings in shares of GlaxoSmithKline by 49.3% in the 3rd quarter. Eaton Vance Management now owns 1,916,771 shares of the pharmaceutical company’s stock valued at $76,996,000 after acquiring an additional 633,093 shares in the last quarter. Finally, Morgan Stanley grew its holdings in shares of GlaxoSmithKline by 16.5% in the 3rd quarter. Morgan Stanley now owns 4,212,892 shares of the pharmaceutical company’s stock valued at $169,232,000 after acquiring an additional 597,367 shares in the last quarter. Institutional investors own 11.07% of the company’s stock.
GSK has been the subject of several analyst reports. SunTrust Banks initiated coverage on GlaxoSmithKline in a report on Thursday, December 13th. They issued a “hold” rating and a $38.00 price objective for the company. UBS Group cut GlaxoSmithKline from a “buy” rating to a “neutral” rating in a report on Friday, February 22nd. Jefferies Financial Group reiterated a “buy” rating and set a $45.00 price target on shares of GlaxoSmithKline in a report on Tuesday, December 11th. Zacks Investment Research upgraded GlaxoSmithKline from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a report on Wednesday, November 28th. Finally, BNP Paribas cut GlaxoSmithKline from an “outperform” rating to a “neutral” rating in a report on Monday, January 14th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $41.99.
GlaxoSmithKline (NYSE:GSK) last posted its quarterly earnings results on Wednesday, February 6th. The pharmaceutical company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.09. GlaxoSmithKline had a return on equity of 160.39% and a net margin of 11.45%. The business had revenue of $10.55 billion during the quarter, compared to analysts’ expectations of $9.85 billion. As a group, sell-side analysts predict that GlaxoSmithKline plc will post 2.88 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 11th. Stockholders of record on Friday, February 22nd will be issued a dividend of $0.597 per share. This represents a $2.39 dividend on an annualized basis and a dividend yield of 5.91%. The ex-dividend date of this dividend is Thursday, February 21st. This is a boost from GlaxoSmithKline’s previous quarterly dividend of $0.49. GlaxoSmithKline’s payout ratio is currently 74.68%.
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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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