Today, Capstone Asset Management Co. Raises it position for GlaxoSmithKline PLC (GSK)

Today, Capstone Asset Management Co. Raises it position for GlaxoSmithKline PLC (GSK)

Capstone Asset Management Co. raised its position in GlaxoSmithKline PLC (NYSE:GSK) by 0.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 94,958 shares of the pharmaceutical company’s stock after buying an additional 620 shares during the period. Capstone Asset Management Co.’s holdings in GlaxoSmithKline PLC were worth $4,096,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in GSK. FMR LLC raised its stake in shares of GlaxoSmithKline PLC by 29.8% in the second quarter. FMR LLC now owns 20,701,378 shares of the pharmaceutical company’s stock worth $897,198,000 after buying an additional 4,757,238 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of GlaxoSmithKline PLC by 1.1% in the third quarter. Fisher Asset Management LLC now owns 11,861,172 shares of the pharmaceutical company’s stock worth $511,572,000 after buying an additional 130,297 shares in the last quarter. State Street Corp raised its stake in shares of GlaxoSmithKline PLC by 1.1% in the second quarter. State Street Corp now owns 10,472,620 shares of the pharmaceutical company’s stock worth $453,884,000 after buying an additional 111,349 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of GlaxoSmithKline PLC by 0.6% in the second quarter. Bank of New York Mellon Corp now owns 5,976,687 shares of the pharmaceutical company’s stock worth $259,030,000 after buying an additional 35,788 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of GlaxoSmithKline PLC by 24.7% in the second quarter. Ameriprise Financial Inc. now owns 3,038,134 shares of the pharmaceutical company’s stock worth $132,800,000 after buying an additional 602,693 shares in the last quarter. 8.67% of the stock is currently owned by institutional investors and hedge funds.

GlaxoSmithKline PLC (NYSE:GSK) traded down 1.47% during trading on Monday, hitting $38.29. 3,321,901 shares of the company traded hands. The company has a market capitalization of $93.16 billion, a P/E ratio of 251.91 and a beta of 0.93. GlaxoSmithKline PLC has a 12-month low of $37.65 and a 12-month high of $45.58. The stock has a 50 day moving average price of $40.10 and a 200 day moving average price of $42.40.

The business also recently disclosed a dividend, which will be paid on Thursday, January 12th. Shareholders of record on Friday, November 4th will be paid a dividend of $0.459 per share. The ex-dividend date of this dividend is Wednesday, November 2nd. GlaxoSmithKline PLC’s dividend payout ratio (DPR) is presently 1,533.33%.

GSK has been the topic of a number of research reports. HSBC reissued a “buy” rating on shares of GlaxoSmithKline PLC in a research report on Monday, September 12th. Shore Capital reaffirmed a “hold” rating on shares of GlaxoSmithKline PLC in a research report on Wednesday, August 17th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of GlaxoSmithKline PLC in a research report on Thursday, September 22nd. Bank of America Corp. reaffirmed a “buy” rating and set a $50.00 price target on shares of GlaxoSmithKline PLC in a research report on Tuesday, September 20th. Finally, Beaufort Securities reaffirmed a “buy” rating on shares of GlaxoSmithKline PLC in a research report on Friday, September 16th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $48.20.

In related news, major shareholder Plc Glaxosmithkline acquired 66,500 shares of the company’s stock in a transaction on Monday, October 24th. The shares were acquired at an average cost of $14.00 per share, for a total transaction of $931,000.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 10.00% of the company’s stock.

GlaxoSmithKline PLC Company Profile

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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