Today, Kanawha Capital Management LLC reduces its investment in GlaxoSmithKline PLC (GSK)

Today, Kanawha Capital Management LLC reduces its investment in GlaxoSmithKline PLC (GSK)

Kanawha Capital Management LLC reduced its position in GlaxoSmithKline PLC (NYSE:GSK) by 0.4% during the second quarter, Holdings Channel reports. The institutional investor owned 54,175 shares of the pharmaceutical company’s stock after selling 222 shares during the period. Kanawha Capital Management LLC’s holdings in GlaxoSmithKline PLC were worth $2,348,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. Cribstone Capital Management LLC acquired a new stake in shares of GlaxoSmithKline PLC during the second quarter worth $117,000. Quadrant Capital Group LLC raised 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. Signaturefd LLC raised its stake in shares of GlaxoSmithKline PLC by 25.2% in the second quarter. Signaturefd LLC now owns 3,020 shares of the pharmaceutical company’s stock worth $131,000 after buying an additional 607 shares in the last quarter. Williams Jones & Associates LLC acquired a new stake in shares of GlaxoSmithKline PLC during the first quarter worth $161,000. Finally, LS Investment Advisors LLC raised its stake in shares of GlaxoSmithKline PLC by 167.5% in the second quarter. LS Investment Advisors LLC now owns 4,280 shares of the pharmaceutical company’s stock worth $185,000 after buying an additional 2,680 shares in the last quarter. Hedge funds and other institutional investors own 8.80% of the company’s stock.

GlaxoSmithKline PLC (NYSE:GSK) traded up 1.43% on Tuesday, hitting $41.78. The stock had a trading volume of 1,602,197 shares. The company has a 50-day moving average price of $43.08 and a 200 day moving average price of $42.97. GlaxoSmithKline PLC has a 52-week low of $37.82 and a 52-week high of $45.58. The firm has a market cap of $101.55 billion, a PE ratio of 2611.25 and a beta of 0.88.

The business also recently disclosed a dividend, which was paid on Thursday, October 13th. Stockholders of record on Friday, August 12th were given a dividend of $0.494 per share. The ex-dividend date was Wednesday, August 10th. GlaxoSmithKline PLC’s dividend payout ratio is currently 6,166.67%.

A number of equities research analysts have recently weighed in on the company. Citigroup Inc. reiterated a “buy” rating on shares of GlaxoSmithKline PLC in a research report on Thursday, June 23rd. Beaufort Securities reiterated a “buy” rating on shares of GlaxoSmithKline PLC in a research report on Tuesday, June 21st. HSBC reiterated a “buy” rating on shares of GlaxoSmithKline PLC in a research report on Monday, September 12th. Shore Capital restated a “hold” rating on shares of GlaxoSmithKline PLC in a research report on Tuesday, June 21st. Finally, Zacks Investment Research upgraded GlaxoSmithKline PLC from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research report on Tuesday, June 21st. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $47.86.

About GlaxoSmithKline PLC

GlaxoSmithKline plc (GSK) is a healthcare company. The Company is engaged in the creation and discovery, development, manufacture and marketing of pharmaceutical products, including vaccines, over-the-counter (OTC) medicines and health-related consumer products. The Company’s segments include Pharmaceuticals, Pharmaceuticals R&D, Vaccines and Consumer Healthcare.

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