Boston Partners Lowers Position in GlaxoSmithKline plc (NYSE:GSK)

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Boston Partners trimmed its stake in GlaxoSmithKline plc (NYSE:GSK) by 5.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,499,010 shares of the pharmaceutical company’s stock after selling 82,333 shares during the quarter. Boston Partners’ holdings in GlaxoSmithKline were worth $60,003,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Berman Capital Advisors LLC grew its holdings in GlaxoSmithKline by 58.1% in the second quarter. Berman Capital Advisors LLC now owns 656 shares of the pharmaceutical company’s stock valued at $26,000 after purchasing an additional 241 shares during the period. Prestige Wealth Management Group LLC acquired a new position in GlaxoSmithKline during the second quarter valued at approximately $26,000. Financial Gravity Wealth Inc. lifted its position in GlaxoSmithKline by 62.7% during the second quarter. Financial Gravity Wealth Inc. now owns 799 shares of the pharmaceutical company’s stock valued at $32,000 after buying an additional 308 shares in the last quarter. Princeton Global Asset Management LLC acquired a new position in GlaxoSmithKline during the first quarter valued at approximately $37,000. Finally, Manchester Financial Inc. acquired a new position in GlaxoSmithKline during the second quarter valued at approximately $39,000. Hedge funds and other institutional investors own 11.12% of the company’s stock.

In other news, Director Plc Glaxosmithkline bought 177,777 shares of GlaxoSmithKline stock in a transaction dated Tuesday, September 10th. The shares were acquired at an average cost of $45.00 per share, with a total value of $7,999,965.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 10.00% of the company’s stock.

Shares of NYSE GSK traded up $0.36 during trading on Thursday, reaching $41.42. 52,053 shares of the stock were exchanged, compared to its average volume of 2,055,047. The business’s 50-day moving average price is $41.04 and its 200 day moving average price is $40.59. GlaxoSmithKline plc has a twelve month low of $36.41 and a twelve month high of $42.49. The company has a quick ratio of 0.48, a current ratio of 0.71 and a debt-to-equity ratio of 7.86. The company has a market capitalization of $101.27 billion, a price-to-earnings ratio of 13.11, a price-to-earnings-growth ratio of 1.93 and a beta of 0.70.

GlaxoSmithKline (NYSE:GSK) last posted its earnings results on Wednesday, July 24th. The pharmaceutical company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.14. GlaxoSmithKline had a net margin of 13.84% and a return on equity of 175.45%. The business had revenue of $10.04 billion for the quarter, compared to analysts’ expectations of $9.55 billion. As a group, sell-side analysts expect that GlaxoSmithKline plc will post 2.98 earnings per share for the current fiscal year.

A number of brokerages have weighed in on GSK. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of GlaxoSmithKline in a research report on Tuesday, August 13th. Morgan Stanley reaffirmed an “underweight” rating on shares of GlaxoSmithKline in a research report on Monday, June 17th. Cowen reaffirmed a “hold” rating and set a $45.00 price target on shares of GlaxoSmithKline in a research report on Monday, June 10th. ValuEngine cut shares of GlaxoSmithKline from a “hold” rating to a “sell” rating in a research report on Tuesday, September 10th. Finally, Societe Generale raised shares of GlaxoSmithKline from a “sell” rating to a “buy” rating in a research report on Tuesday, September 3rd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. GlaxoSmithKline currently has an average rating of “Hold” and an average target price of $41.79.

About GlaxoSmithKline

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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