GlaxoSmithKline’s (GSK) “Hold” Rating Reaffirmed at Cowen
Cowen reiterated their hold rating on shares of GlaxoSmithKline (NYSE:GSK) in a research report sent to investors on Monday morning, AnalystRatings.com reports. Cowen currently has a $45.00 price objective on the pharmaceutical company’s stock.
Several other brokerages also recently commented on GSK. UBS Group downgraded GlaxoSmithKline from a buy rating to a neutral rating in a report on Friday, February 22nd. Zacks Investment Research upgraded GlaxoSmithKline from a hold rating to a buy rating and set a $44.00 target price on the stock in a report on Tuesday, April 23rd. Finally, Shore Capital downgraded GlaxoSmithKline from a buy rating to a hold rating in a report on Friday, March 8th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and four have issued a buy rating to the company. GlaxoSmithKline presently has an average rating of Hold and an average target price of $42.28.
Shares of NYSE:GSK opened at $40.13 on Monday. The stock has a market cap of $99.61 billion, a P/E ratio of 12.70, a P/E/G ratio of 2.07 and a beta of 0.74. The company has a current ratio of 0.72, a quick ratio of 0.48 and a debt-to-equity ratio of 6.92. GlaxoSmithKline has a one year low of $36.41 and a one year high of $42.36.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Friday, May 17th will be paid a dividend of $0.4953 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $1.98 dividend on an annualized basis and a yield of 4.94%. GlaxoSmithKline’s dividend payout ratio (DPR) is presently 61.71%.
In other GlaxoSmithKline news, Director Plc Glaxosmithkline acquired 325,000 shares of the stock in a transaction on Monday, April 22nd. The stock was purchased at an average price of $18.00 per share, for a total transaction of $5,850,000.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 10.00% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of GlaxoSmithKline by 3.9% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 309,879 shares of the pharmaceutical company’s stock worth $12,950,000 after acquiring an additional 11,570 shares in the last quarter. Belpointe Asset Management LLC grew its position in shares of GlaxoSmithKline by 56.2% in the 1st quarter. Belpointe Asset Management LLC now owns 9,813 shares of the pharmaceutical company’s stock worth $410,000 after acquiring an additional 3,530 shares in the last quarter. Meridian Wealth Management LLC acquired a new position in shares of GlaxoSmithKline in the 1st quarter worth approximately $54,000. Marshall Wace North America L.P. acquired a new position in shares of GlaxoSmithKline in the 1st quarter worth approximately $62,000. Finally, Princeton Global Asset Management LLC acquired a new position in shares of GlaxoSmithKline in the 1st quarter worth approximately $37,000. Institutional investors own 11.26% of the company’s stock.
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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