Signature Wealth Management Group increased its holdings in GlaxoSmithKline plc (NYSE:GSK) by 9.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 80,357 shares of the pharmaceutical company’s stock after purchasing an additional 6,849 shares during the quarter. GlaxoSmithKline accounts for 2.3% of Signature Wealth Management Group’s investment portfolio, making the stock its 12th biggest position. Signature Wealth Management Group’s holdings in GlaxoSmithKline were worth $3,160,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Centaurus Financial Inc. raised its position in GlaxoSmithKline by 250.2% in the 2nd quarter. Centaurus Financial Inc. now owns 14,096 shares of the pharmaceutical company’s stock worth $568,000 after purchasing an additional 10,071 shares during the period. Old Port Advisors purchased a new position in GlaxoSmithKline in the 2nd quarter worth $2,710,000. New England Asset Management Inc. bought a new stake in GlaxoSmithKline in the 2nd quarter worth $256,000. Jacobs & Co. CA grew its holdings in GlaxoSmithKline by 14.6% in the 3rd quarter. Jacobs & Co. CA now owns 89,202 shares of the pharmaceutical company’s stock worth $3,583,000 after acquiring an additional 11,370 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in GlaxoSmithKline in the 2nd quarter worth $6,143,000. Institutional investors own 11.01% of the company’s stock.
GSK has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of GlaxoSmithKline from a “sell” rating to a “hold” rating in a report on Tuesday, July 17th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of GlaxoSmithKline in a report on Friday, July 20th. Bank of America set a $40.00 price target on shares of GlaxoSmithKline and gave the stock a “hold” rating in a report on Wednesday, July 25th. Shore Capital raised shares of GlaxoSmithKline from a “hold” rating to a “buy” rating in a report on Friday, July 27th. Finally, Deutsche Bank reissued a “neutral” rating on shares of GlaxoSmithKline in a report on Wednesday, August 1st. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $41.57.
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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