Goldman Sachs Group Inc. Reiterates “Buy” Rating for GlaxoSmithKline PLC (GSK)
GlaxoSmithKline PLC (NYSE:GSK)‘s stock had its “buy” rating reaffirmed by equities research analysts at Goldman Sachs Group Inc. in a note issued to investors on Thursday.
GSK has been the topic of several other research reports. Citigroup Inc. reaffirmed a “buy” rating on shares of GlaxoSmithKline PLC in a research report on Friday, September 23rd. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of GlaxoSmithKline PLC in a research report on Tuesday, October 25th. Piper Jaffray Cos. assumed coverage on GlaxoSmithKline PLC in a research report on Friday, September 23rd. They set an “overweight” rating on the stock. Zacks Investment Research raised GlaxoSmithKline PLC from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research report on Tuesday, September 27th. Finally, BNP Paribas lowered GlaxoSmithKline PLC from a “neutral” rating to an “underperform” rating in a research report on Tuesday, September 13th. Two 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 stock has a consensus rating of “Hold” and a consensus target price of $48.20.
GlaxoSmithKline PLC (NYSE:GSK) opened at 37.79 on Thursday. GlaxoSmithKline PLC has a 12 month low of $37.65 and a 12 month high of $45.58. The stock has a market cap of $91.94 billion, a price-to-earnings ratio of 248.62 and a beta of 0.93. The stock’s 50 day moving average price is $39.97 and its 200-day moving average price is $42.36.
The company also recently announced 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 of this dividend is Wednesday, November 2nd. GlaxoSmithKline PLC’s payout ratio is 1,533.33%.
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In related news, major shareholder Plc Glaxosmithkline acquired 66,500 shares of GlaxoSmithKline PLC stock in a transaction dated 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 10.00% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. FMR LLC increased 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 valued at $897,198,000 after buying an additional 4,757,238 shares in the last quarter. Thornburg Investment Management Inc. increased its stake in shares of GlaxoSmithKline PLC by 188.7% in the second quarter. Thornburg Investment Management Inc. now owns 1,025,410 shares of the pharmaceutical company’s stock valued at $44,441,000 after buying an additional 670,284 shares in the last quarter. Ameriprise Financial Inc. increased 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 valued at $132,800,000 after buying an additional 602,693 shares in the last quarter. Bailard Inc. bought a new stake in shares of GlaxoSmithKline PLC during the third quarter valued at about $10,671,000. Finally, Chartwell Investment Partners LLC increased its stake in shares of GlaxoSmithKline PLC by 519.1% in the second quarter. Chartwell Investment Partners LLC now owns 561,735 shares of the pharmaceutical company’s stock valued at $24,346,000 after buying an additional 471,005 shares in the last quarter. Institutional investors and hedge funds own 8.67% of the company’s stock.
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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