Pennsylvania Trust Co Decreases Stock Position in GlaxoSmithKline plc (NYSE:GSK)
Pennsylvania Trust Co lessened its stake in shares of GlaxoSmithKline plc (NYSE:GSK) by 6.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 23,132 shares of the pharmaceutical company’s stock after selling 1,672 shares during the period. Pennsylvania Trust Co’s holdings in GlaxoSmithKline were worth $987,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in GSK. Berman Capital Advisors LLC raised its holdings in GlaxoSmithKline by 58.1% during the 2nd quarter. Berman Capital Advisors LLC now owns 656 shares of the pharmaceutical company’s stock valued at $26,000 after buying an additional 241 shares during the period. Prestige Wealth Management Group LLC purchased a new stake in GlaxoSmithKline during the 2nd quarter valued at $26,000. Financial Gravity Wealth Inc. raised its holdings in GlaxoSmithKline by 62.7% during the 2nd quarter. Financial Gravity Wealth Inc. now owns 799 shares of the pharmaceutical company’s stock valued at $32,000 after buying an additional 308 shares during the period. Princeton Global Asset Management LLC purchased a new stake in GlaxoSmithKline during the 1st quarter valued at $37,000. Finally, Manchester Financial Inc. purchased a new stake in GlaxoSmithKline during the 2nd quarter valued at $39,000. Institutional investors own 11.12% of the company’s stock.
In other news, Director Plc Glaxosmithkline purchased 177,777 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were acquired at an average price of $45.00 per share, with a total value of $7,999,965.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 10.00% of the company’s stock.
GlaxoSmithKline (NYSE:GSK) last announced its quarterly earnings data on Wednesday, July 24th. The pharmaceutical company reported $0.78 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.14. The company had revenue of $10.04 billion for the quarter, compared to the consensus estimate of $9.55 billion. GlaxoSmithKline had a return on equity of 175.45% and a net margin of 13.84%. As a group, research analysts anticipate that GlaxoSmithKline plc will post 2.96 earnings per share for the current year.
GSK has been the topic of several research analyst reports. ValuEngine downgraded GlaxoSmithKline from a “hold” rating to a “sell” rating in a research report on Tuesday, September 10th. Cantor Fitzgerald raised GlaxoSmithKline from a “hold” rating to a “buy” rating in a research report on Friday. Morgan Stanley reaffirmed an “underweight” rating on shares of GlaxoSmithKline in a research report on Monday, June 17th. Jefferies Financial Group reaffirmed a “buy” rating on shares of GlaxoSmithKline in a research report on Thursday, August 29th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of GlaxoSmithKline in a research report on Tuesday, August 13th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average 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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