Welch & Forbes LLC Cuts Stock Position in GlaxoSmithKline plc (NYSE:GSK)

Welch & Forbes LLC lessened its stake in GlaxoSmithKline plc (NYSE:GSK) by 0.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 652,534 shares of the pharmaceutical company’s stock after selling 901 shares during the quarter. Welch & Forbes LLC’s holdings in GlaxoSmithKline were worth $27,850,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. 10 15 Associates Inc. increased its holdings in GlaxoSmithKline by 2.4% in the 2nd quarter. 10 15 Associates Inc. now owns 314,002 shares of the pharmaceutical company’s stock worth $12,566,000 after acquiring an additional 7,266 shares in the last quarter. Claraphi Advisory Network LLC increased its holdings in GlaxoSmithKline by 10.0% in the 2nd quarter. Claraphi Advisory Network LLC now owns 7,811 shares of the pharmaceutical company’s stock worth $313,000 after acquiring an additional 711 shares in the last quarter. Ingalls & Snyder LLC increased its holdings in GlaxoSmithKline by 0.5% in the 2nd quarter. Ingalls & Snyder LLC now owns 69,497 shares of the pharmaceutical company’s stock worth $2,781,000 after acquiring an additional 375 shares in the last quarter. Sphera Funds Management LTD. increased its holdings in GlaxoSmithKline by 38.7% in the 1st quarter. Sphera Funds Management LTD. now owns 430,000 shares of the pharmaceutical company’s stock worth $17,970,000 after acquiring an additional 120,000 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in GlaxoSmithKline by 14.6% in the 1st quarter. First Trust Advisors LP now owns 714,614 shares of the pharmaceutical company’s stock worth $29,864,000 after acquiring an additional 90,928 shares in the last quarter. 11.12% of the stock is owned by institutional investors.

In other GlaxoSmithKline news, Director Plc Glaxosmithkline bought 177,777 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was 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 Securities & Exchange Commission, which can be accessed through this link. 10.00% of the stock is owned by corporate insiders.

Several equities research analysts recently commented on GSK shares. Cantor Fitzgerald raised shares of GlaxoSmithKline from a “hold” rating to a “buy” rating in a report on Friday. Societe Generale raised shares of GlaxoSmithKline from a “sell” rating to a “buy” rating in a report on Tuesday, September 3rd. ValuEngine lowered shares of GlaxoSmithKline from a “hold” rating to a “sell” rating in a report on Tuesday, September 10th. Morgan Stanley reaffirmed an “underweight” rating on shares of GlaxoSmithKline in a report on Monday, June 17th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of GlaxoSmithKline in a report on Tuesday, August 13th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company’s stock. GlaxoSmithKline currently has a consensus rating of “Hold” and a consensus target price of $41.79.

Shares of GlaxoSmithKline stock traded up $0.12 during trading hours on Friday, reaching $42.37. 2,342,150 shares of the company’s stock were exchanged, compared to its average volume of 2,221,049. GlaxoSmithKline plc has a 1 year low of $36.41 and a 1 year high of $43.22. The company has a market capitalization of $104.46 billion, a P/E ratio of 13.41, a price-to-earnings-growth ratio of 2.01 and a beta of 0.68. The business has a fifty day moving average of $41.64 and a two-hundred day moving average of $40.76. The company has a quick ratio of 0.48, a current ratio of 0.71 and a debt-to-equity ratio of 7.86.

GlaxoSmithKline (NYSE:GSK) last released its earnings results on Wednesday, July 24th. The pharmaceutical company reported $0.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.14. GlaxoSmithKline had a net margin of 13.84% and a return on equity of 175.45%. The business had revenue of $10.04 billion during the quarter, compared to analyst estimates of $9.55 billion. As a group, research analysts predict that GlaxoSmithKline plc will post 2.96 EPS for the current year.

About GlaxoSmithKline

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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Institutional Ownership by Quarter for GlaxoSmithKline (NYSE:GSK)

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