Oppenheimer Asset Management Inc. Increases Stake in GlaxoSmithKline plc (NYSE:GSK)

Oppenheimer Asset Management Inc. grew its holdings in shares of GlaxoSmithKline plc (NYSE:GSK) by 7.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 258,140 shares of the pharmaceutical company’s stock after acquiring an additional 17,043 shares during the period. Oppenheimer Asset Management Inc.’s holdings in GlaxoSmithKline were worth $10,480,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in GlaxoSmithKline by 46.3% in the first quarter. Geode Capital Management LLC now owns 129,145 shares of the pharmaceutical company’s stock worth $5,444,000 after acquiring an additional 40,858 shares during the last quarter. Bessemer Group Inc. raised its holdings in shares of GlaxoSmithKline by 22.9% during the second quarter. Bessemer Group Inc. now owns 28,734 shares of the pharmaceutical company’s stock valued at $1,239,000 after buying an additional 5,356 shares during the last quarter. TD Asset Management Inc. raised its holdings in shares of GlaxoSmithKline by 8.5% during the second quarter. TD Asset Management Inc. now owns 34,546 shares of the pharmaceutical company’s stock valued at $1,490,000 after buying an additional 2,698 shares during the last quarter. Pioneer Investment Management Inc. raised its holdings in shares of GlaxoSmithKline by 15.2% during the second quarter. Pioneer Investment Management Inc. now owns 623,997 shares of the pharmaceutical company’s stock valued at $26,907,000 after buying an additional 82,472 shares during the last quarter. Finally, Seaward Management Limited Partnership raised its holdings in shares of GlaxoSmithKline by 4.8% during the second quarter. Seaward Management Limited Partnership now owns 5,785 shares of the pharmaceutical company’s stock valued at $249,000 after buying an additional 266 shares during the last quarter. Institutional investors own 9.81% of the company’s stock.

A number of research firms recently commented on GSK. UBS Group upgraded shares of GlaxoSmithKline from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $35.04 to $35.85 in a research report on Monday, November 27th. Cowen set a $38.00 price objective on shares of GlaxoSmithKline and gave the stock a “hold” rating in a research note on Monday, December 11th. Zacks Investment Research lowered shares of GlaxoSmithKline from a “buy” rating to a “hold” rating in a research note on Tuesday, October 24th. Argus decreased their price objective on shares of GlaxoSmithKline to $40.00 and set a “buy” rating for the company in a research note on Thursday, November 30th. Finally, Bank of America lowered shares of GlaxoSmithKline from a “buy” rating to a “neutral” rating in a research note on Thursday, October 26th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $39.37.

In other news, major shareholder Plc Glaxosmithkline purchased 428,571 shares of GlaxoSmithKline stock in a transaction on Monday, November 6th. The shares were purchased at an average cost of $14.00 per share, for a total transaction of $5,999,994.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 10.00% of the company’s stock.

Shares of GlaxoSmithKline plc (GSK) traded down $0.03 on Friday, reaching $35.47. 3,670,975 shares of the company traded hands, compared to its average volume of 4,928,854. The company has a market cap of $87,203.98, a P/E ratio of 29.07, a PEG ratio of 1.97 and a beta of 0.98. GlaxoSmithKline plc has a 12-month low of $34.52 and a 12-month high of $44.53. The company has a quick ratio of 0.44, a current ratio of 0.64 and a debt-to-equity ratio of 2.96.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 11th. Investors of record on Friday, November 10th will be paid a $0.5037 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $2.01 dividend on an annualized basis and a yield of 5.68%. This is a boost from GlaxoSmithKline’s previous quarterly dividend of $0.49. GlaxoSmithKline’s payout ratio is presently 163.12%.

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GlaxoSmithKline Company Profile

GlaxoSmithKline plc is a global healthcare company. The Company operates through three segments: Pharmaceuticals, Vaccines and Consumer Healthcare. The Company focuses on its research across six areas: Respiratory diseases, human immunodeficiency virus (HIV)/infectious diseases, Vaccines, Immuno-inflammation, Oncology and Rare diseases.

Institutional Ownership by Quarter for GlaxoSmithKline (NYSE:GSK)

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