Trade Report: The Stevens First Principles Investment Advisors Sold shares of GlaxoSmithKline PLC (GSK)

The Stevens First Principles Investment Advisors Sold shares of GlaxoSmithKline PLC (GSK)

Stevens First Principles Investment Advisors reduced its stake in GlaxoSmithKline PLC (NYSE:GSK) by 2.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 37,463 shares of the pharmaceutical company’s stock after selling 1,020 shares during the period. Stevens First Principles Investment Advisors’ holdings in GlaxoSmithKline PLC were worth $1,624,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quadrant Capital Group LLC boosted its position in GlaxoSmithKline PLC by 6.4% in the second quarter. Quadrant Capital Group LLC now owns 2,725 shares of the pharmaceutical company’s stock valued at $111,000 after buying an additional 163 shares during the last quarter. Cribstone Capital Management LLC acquired a new position in GlaxoSmithKline PLC during the second quarter valued at about $117,000. Williams Jones & Associates LLC acquired a new position in GlaxoSmithKline PLC during the first quarter valued at about $161,000. LS Investment Advisors LLC boosted its position in GlaxoSmithKline PLC by 167.5% in the second quarter. LS Investment Advisors LLC now owns 4,280 shares of the pharmaceutical company’s stock valued at $185,000 after buying an additional 2,680 shares during the last quarter. Finally, Cape Cod Five Cents Savings Bank acquired a new position in GlaxoSmithKline PLC during the second quarter valued at about $201,000. Hedge funds and other institutional investors own 8.79% of the company’s stock.

GlaxoSmithKline PLC (NYSE:GSK) traded up 0.02% during mid-day trading on Friday, hitting $42.91. The company had a trading volume of 1,608,595 shares. The company has a market cap of $104.29 billion, a PE ratio of 2681.87 and a beta of 0.89. GlaxoSmithKline PLC has a one year low of $37.82 and a one year high of $45.58. The company’s 50 day moving average price is $43.45 and its 200-day moving average price is $42.84.

The business also recently disclosed a dividend, which will be paid on Thursday, October 13th. Investors of record on Friday, August 12th will be given a dividend of $0.494 per share. The ex-dividend date is Wednesday, August 10th. GlaxoSmithKline PLC’s dividend payout ratio is currently 6,600.00%.

GSK has been the subject of several research analyst reports. Citigroup Inc. reiterated a “buy” rating on shares of GlaxoSmithKline PLC in a research report on Wednesday, July 27th. Zacks Investment Research upgraded GlaxoSmithKline PLC from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a research report on Tuesday, June 21st. Bank of America Corp. reiterated a “buy” rating and issued a $48.00 price objective on shares of GlaxoSmithKline PLC in a research report on Wednesday, June 22nd. Beaufort Securities reiterated a “buy” rating on shares of GlaxoSmithKline PLC in a research report on Tuesday, June 21st. Finally, Jefferies Group upgraded GlaxoSmithKline PLC from a “hold” rating to a “buy” rating in a research report on Thursday, July 14th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price 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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