Trade Report: The Insider Buying: GlaxoSmithKline PLC (GSK) Major Shareholder Acquires $931,000.00 in Stock

The Insider Buying: GlaxoSmithKline PLC (GSK) Major Shareholder Acquires $931,000.00 in Stock

GlaxoSmithKline PLC (NYSE:GSK) major shareholder Plc Glaxosmithkline purchased 66,500 shares of the business’s stock in a transaction that occurred on Monday, October 24th. The shares were purchased at an average price of $14.00 per share, for a total transaction of $931,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Shares of GlaxoSmithKline PLC (NYSE:GSK) opened at 40.14 on Monday. The company’s 50-day moving average is $42.40 and its 200-day moving average is $42.92. The stock has a market cap of $97.66 billion, a PE ratio of 267.60 and a beta of 0.88. GlaxoSmithKline PLC has a 52-week low of $37.82 and a 52-week high of $45.58.

GlaxoSmithKline PLC (NYSE:GSK) last issued its earnings results on Wednesday, October 26th. The pharmaceutical company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.06. GlaxoSmithKline PLC had a net margin of 0.81% and a return on equity of 75.51%. Equities analysts anticipate that GlaxoSmithKline PLC will post $2.56 EPS for the current year.

The business also recently declared a dividend, which will be paid on Thursday, January 12th. Shareholders of record on Friday, November 4th will be given a dividend of $0.459 per share. The ex-dividend date is Wednesday, November 2nd. GlaxoSmithKline PLC’s dividend payout ratio is presently 1,541.67%.

Several large investors have recently made changes to their positions in GSK. M&R Capital Management Inc. bought a new stake in shares of GlaxoSmithKline PLC during the second quarter worth $109,000. Quadrant Capital Group LLC boosted its stake in shares of GlaxoSmithKline PLC by 6.4% in the second quarter. Quadrant Capital Group LLC now owns 2,725 shares of the pharmaceutical company’s stock worth $111,000 after buying an additional 163 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of GlaxoSmithKline PLC by 3.8% in the second quarter. Thrivent Financial for Lutherans now owns 2,651 shares of the pharmaceutical company’s stock worth $115,000 after buying an additional 96 shares in the last quarter. SevenBridge Financial Group LLC bought a new stake in shares of GlaxoSmithKline PLC during the second quarter worth $116,000. Finally, Cribstone Capital Management LLC bought a new stake in shares of GlaxoSmithKline PLC during the second quarter worth $117,000. Institutional investors and hedge funds own 8.82% of the company’s stock.

GSK has been the topic of several analyst reports. Citigroup Inc. reiterated a “buy” rating on shares of GlaxoSmithKline PLC in a report on Wednesday, July 27th. HSBC restated a “buy” rating on shares of GlaxoSmithKline PLC in a research note on Monday, September 12th. Zacks Investment Research upgraded shares of GlaxoSmithKline PLC from a “sell” rating to a “hold” rating in a research note on Monday, July 25th. Shore Capital restated a “hold” rating on shares of GlaxoSmithKline PLC in a research note on Wednesday, August 17th. Finally, JPMorgan Chase & Co. restated a “neutral” rating on shares of GlaxoSmithKline PLC in a research note on Thursday, September 22nd. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $47.86.

About GlaxoSmithKline PLC

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