GlaxoSmithKline plc (GSK) Shares Sold by Dodge & Cox

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Dodge & Cox reduced its holdings in GlaxoSmithKline plc (NYSE:GSK) by 0.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,004,737 shares of the pharmaceutical company’s stock after selling 153,600 shares during the period. GlaxoSmithKline comprises about 1.5% of Dodge & Cox’s holdings, making the stock its 29th largest holding. Dodge & Cox’s holdings in GlaxoSmithKline were worth $1,928,350,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in GSK. Bank of New York Mellon Corp lifted its stake in GlaxoSmithKline by 1,788.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,306,091 shares of the pharmaceutical company’s stock worth $92,636,000 after acquiring an additional 2,183,983 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of GlaxoSmithKline by 15.0% during the 2nd quarter. Renaissance Technologies LLC now owns 9,329,400 shares of the pharmaceutical company’s stock worth $376,068,000 after purchasing an additional 1,216,600 shares in the last quarter. Eaton Vance Management raised its stake in shares of GlaxoSmithKline by 49.3% during the 3rd quarter. Eaton Vance Management now owns 1,916,771 shares of the pharmaceutical company’s stock worth $76,996,000 after purchasing an additional 633,093 shares in the last quarter. Morgan Stanley raised its stake in shares of GlaxoSmithKline by 19.6% during the 2nd quarter. Morgan Stanley now owns 3,615,525 shares of the pharmaceutical company’s stock worth $145,742,000 after purchasing an additional 592,022 shares in the last quarter. Finally, FMR LLC raised its stake in shares of GlaxoSmithKline by 1.7% during the 3rd quarter. FMR LLC now owns 19,081,274 shares of the pharmaceutical company’s stock worth $766,495,000 after purchasing an additional 327,721 shares in the last quarter. 10.96% of the stock is owned by hedge funds and other institutional investors.

Shares of GSK stock opened at $37.09 on Wednesday. The company has a current ratio of 0.95, a quick ratio of 0.63 and a debt-to-equity ratio of 6.66. GlaxoSmithKline plc has a twelve month low of $34.89 and a twelve month high of $42.36. The company has a market capitalization of $91.93 billion, a P/E ratio of 12.36, a P/E/G ratio of 1.78 and a beta of 0.81.

GlaxoSmithKline (NYSE:GSK) last issued its quarterly earnings data on Wednesday, October 31st. The pharmaceutical company reported $0.83 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($0.03). GlaxoSmithKline had a net margin of 5.78% and a return on equity of 164.99%. The company had revenue of $9.41 billion during the quarter, compared to the consensus estimate of $10.55 billion. On average, research analysts forecast that GlaxoSmithKline plc will post 2.96 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 10th. Investors of record on Friday, November 16th will be paid a $0.486 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 5.24%. This is an increase from GlaxoSmithKline’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Thursday, November 15th. GlaxoSmithKline’s dividend payout ratio (DPR) is presently 67.36%.

GSK has been the subject of a number of recent research reports. Liberum Capital downgraded GlaxoSmithKline from a “buy” rating to a “hold” rating in a research note on Thursday, August 30th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of GlaxoSmithKline in a research note on Tuesday, September 25th. Zacks Investment Research raised GlaxoSmithKline from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research note on Tuesday, September 25th. Guggenheim initiated coverage on GlaxoSmithKline in a research note on Monday, October 8th. They set a “neutral” rating for the company. Finally, Goldman Sachs Group reaffirmed a “buy” rating on shares of GlaxoSmithKline in a research note on Wednesday, October 10th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $41.71.

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GlaxoSmithKline Company 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.

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Institutional Ownership by Quarter for GlaxoSmithKline (NYSE:GSK)

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