Stockman Wealth Management Inc. trimmed its position in shares of GlaxoSmithKline plc (NYSE:GSK) by 0.8% during the first quarter, HoldingsChannel reports. The firm owned 83,709 shares of the pharmaceutical company’s stock after selling 673 shares during the quarter. GlaxoSmithKline makes up approximately 1.5% of Stockman Wealth Management Inc.’s portfolio, making the stock its 26th biggest holding. Stockman Wealth Management Inc.’s holdings in GlaxoSmithKline were worth $3,498,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the business. Wealthcare Advisory Partners LLC lifted its stake in GlaxoSmithKline by 6.6% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 4,020 shares of the pharmaceutical company’s stock worth $154,000 after purchasing an additional 249 shares in the last quarter. 1832 Asset Management L.P. increased its position in shares of GlaxoSmithKline by 35.2% during the fourth quarter. 1832 Asset Management L.P. now owns 967 shares of the pharmaceutical company’s stock worth $37,000 after acquiring an additional 252 shares during the period. Reilly Financial Advisors LLC increased its position in shares of GlaxoSmithKline by 36.7% during the first quarter. Reilly Financial Advisors LLC now owns 950 shares of the pharmaceutical company’s stock worth $36,000 after acquiring an additional 255 shares during the period. Courier Capital LLC increased its position in shares of GlaxoSmithKline by 3.0% during the fourth quarter. Courier Capital LLC now owns 9,025 shares of the pharmaceutical company’s stock worth $345,000 after acquiring an additional 260 shares during the period. Finally, grace capital increased its position in shares of GlaxoSmithKline by 2.7% during the fourth quarter. grace capital now owns 9,833 shares of the pharmaceutical company’s stock worth $376,000 after acquiring an additional 263 shares during the period. Institutional investors own 11.12% of the company’s stock.
A number of research firms have recently weighed in on GSK. UBS Group lowered GlaxoSmithKline from a “buy” rating to a “neutral” rating in a research report on Friday, February 22nd. Zacks Investment Research raised GlaxoSmithKline from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a research report on Tuesday, April 23rd. Finally, Shore Capital lowered GlaxoSmithKline from a “buy” rating to a “hold” rating in a research report on Friday, March 8th. 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 stock. The stock presently has a consensus rating of “Hold” and an average price target of $41.83.
Shares of GlaxoSmithKline stock traded up $0.17 during trading hours on Friday, reaching $39.51. 55,519 shares of the company were exchanged, compared to its average volume of 2,474,079. GlaxoSmithKline plc has a 1 year low of $36.41 and a 1 year high of $42.36. The company has a current ratio of 0.72, a quick ratio of 0.48 and a debt-to-equity ratio of 6.92. The firm has a market capitalization of $97.59 billion, a P/E ratio of 12.52, a P/E/G ratio of 2.04 and a beta of 0.74.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Friday, May 17th will be issued a $0.4953 dividend. This represents a $1.98 annualized dividend and a yield of 5.01%. The ex-dividend date of this dividend is Thursday, May 16th. GlaxoSmithKline’s dividend payout ratio (DPR) is presently 75.32%.
In other GlaxoSmithKline news, Director Plc Glaxosmithkline bought 325,000 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The shares were purchased at an average price of $18.00 per share, with a total value of $5,850,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 10.00% of the company’s stock.
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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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