Trading Report: The Tealwood Asset Management Inc. cuts position of GlaxoSmithKline PLC (GSK)

The Tealwood Asset Management Inc. cuts position of GlaxoSmithKline PLC (GSK)

Tealwood Asset Management Inc. lowered its stake in shares of GlaxoSmithKline PLC (NYSE:GSK) by 0.9% during the second quarter, Holdings Channel reports. The firm owned 84,115 shares of the pharmaceutical company’s stock after selling 747 shares during the period. GlaxoSmithKline PLC accounts for 1.6% of Tealwood Asset Management Inc.’s holdings, making the stock its 22nd largest position. Tealwood Asset Management Inc.’s holdings in GlaxoSmithKline PLC were worth $3,646,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in GSK. Cribstone Capital Management LLC purchased a new stake in GlaxoSmithKline PLC during the second quarter valued at $117,000. Quadrant Capital Group LLC increased its stake 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 period. Williams Jones & Associates LLC purchased a new stake in GlaxoSmithKline PLC during the first quarter valued at $161,000. LS Investment Advisors LLC increased its stake 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 period. Finally, Cape Cod Five Cents Savings Bank purchased a new stake in GlaxoSmithKline PLC during the second quarter valued at $201,000. 8.80% of the stock is currently owned by institutional investors.

Shares of GlaxoSmithKline PLC (NYSE:GSK) traded down 1.18% during mid-day trading on Monday, reaching $41.19. The company’s stock had a trading volume of 3,855,964 shares. The company has a market cap of $100.11 billion, a P/E ratio of 2574.37 and a beta of 0.88. GlaxoSmithKline PLC has a 12 month low of $37.82 and a 12 month high of $45.58. The company has a 50-day moving average of $43.08 and a 200-day moving average of $42.97.

The firm also recently declared a dividend, which was paid on Thursday, October 13th. Shareholders 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 payout ratio is 6,166.67%.

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