Signature Wealth Management Group Has $3.16 Million Position in GlaxoSmithKline plc (GSK)

Share on StockTwits

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 stock traded up $0.25 during trading hours on Tuesday, reaching $39.57. The stock had a trading volume of 228,324 shares, compared to its average volume of 2,735,210. The firm has a market cap of $97.51 billion, a PE ratio of 13.65, a price-to-earnings-growth ratio of 1.92 and a beta of 0.87. GlaxoSmithKline plc has a 52 week low of $34.52 and a 52 week high of $42.36. The company has a quick ratio of 0.61, a current ratio of 0.94 and a debt-to-equity ratio of 8.13.

GlaxoSmithKline Profile

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.

Featured Story: Find a Trading Strategy That Works

Institutional Ownership by Quarter for GlaxoSmithKline (NYSE:GSK)

Receive News & Ratings for GlaxoSmithKline Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GlaxoSmithKline and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply