Douglas Lane & Associates LLC Makes New Investment in GlaxoSmithKline plc (NYSE:GSK)

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Douglas Lane & Associates LLC purchased a new position in shares of GlaxoSmithKline plc (NYSE:GSK) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 407,037 shares of the pharmaceutical company’s stock, valued at approximately $17,372,000.

Several other large investors also recently bought and sold shares of the business. 10 15 Associates Inc. grew its position in shares of GlaxoSmithKline by 2.4% in the second quarter. 10 15 Associates Inc. now owns 314,002 shares of the pharmaceutical company’s stock valued at $12,566,000 after purchasing an additional 7,266 shares in the last quarter. Claraphi Advisory Network LLC lifted its holdings in shares of GlaxoSmithKline by 10.0% in the 2nd quarter. Claraphi Advisory Network LLC now owns 7,811 shares of the pharmaceutical company’s stock valued at $313,000 after acquiring an additional 711 shares during the last quarter. Ingalls & Snyder LLC lifted its holdings in shares of GlaxoSmithKline by 0.5% in the 2nd quarter. Ingalls & Snyder LLC now owns 69,497 shares of the pharmaceutical company’s stock valued at $2,781,000 after acquiring an additional 375 shares during the last quarter. Sphera Funds Management LTD. lifted its holdings in shares of GlaxoSmithKline by 38.7% in the 1st quarter. Sphera Funds Management LTD. now owns 430,000 shares of the pharmaceutical company’s stock valued at $17,970,000 after acquiring an additional 120,000 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of GlaxoSmithKline by 14.6% in the 1st quarter. First Trust Advisors LP now owns 714,614 shares of the pharmaceutical company’s stock valued at $29,864,000 after acquiring an additional 90,928 shares during the last quarter. 11.13% of the stock is currently owned by hedge funds and other institutional investors.

NYSE GSK traded down $0.04 during trading on Wednesday, hitting $42.23. The stock had a trading volume of 110,000 shares, compared to its average volume of 2,261,648. The company has a debt-to-equity ratio of 7.86, a quick ratio of 0.48 and a current ratio of 0.71. The stock has a market capitalization of $105.63 billion, a price-to-earnings ratio of 13.38, a P/E/G ratio of 2.02 and a beta of 0.68. GlaxoSmithKline plc has a one year low of $36.41 and a one year high of $43.22. The stock has a 50 day simple moving average of $41.75 and a 200 day simple moving average of $40.78.

GlaxoSmithKline (NYSE:GSK) last announced its quarterly earnings data on Wednesday, July 24th. The pharmaceutical company reported $0.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.14. The business had revenue of $10.04 billion during the quarter, compared to the consensus estimate of $9.55 billion. GlaxoSmithKline had a net margin of 13.84% and a return on equity of 175.45%. On average, sell-side analysts predict that GlaxoSmithKline plc will post 2.96 EPS for the current year.

In related news, Director Plc Glaxosmithkline purchased 177,777 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was purchased at an average price of $45.00 per share, with a total value of $7,999,965.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 10.00% of the stock is owned by company insiders.

Several brokerages have issued reports on GSK. Jefferies Financial Group reissued a “buy” rating on shares of GlaxoSmithKline in a research note on Thursday, August 29th. New Street Research raised shares of GlaxoSmithKline from a “reduce” rating to a “hold” rating in a research note on Wednesday. Cantor Fitzgerald raised shares of GlaxoSmithKline from a “hold” rating to a “buy” rating in a research note on Friday, October 11th. ValuEngine downgraded shares of GlaxoSmithKline from a “hold” rating to a “sell” rating in a research note on Tuesday, September 10th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating on shares of GlaxoSmithKline in a research note on Tuesday, August 13th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $41.79.

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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