Mercer Global Advisors Inc. ADV Has $4.80 Million Stock Position in GlaxoSmithKline plc (NYSE:GSK)

Mercer Global Advisors Inc. ADV raised its stake in shares of GlaxoSmithKline plc (NYSE:GSKGet Rating) by 75.5% during the fourth quarter, Holdings Channel reports. The firm owned 108,918 shares of the pharmaceutical company’s stock after buying an additional 46,866 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in GlaxoSmithKline were worth $4,803,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Manchester Capital Management LLC boosted its holdings in GlaxoSmithKline by 70.9% during the third quarter. Manchester Capital Management LLC now owns 651 shares of the pharmaceutical company’s stock valued at $25,000 after purchasing an additional 270 shares in the last quarter. Clearview Wealth Advisors LLC acquired a new stake in GlaxoSmithKline during the fourth quarter valued at approximately $27,000. Paragon Capital Management Ltd acquired a new stake in GlaxoSmithKline during the fourth quarter valued at approximately $31,000. JNBA Financial Advisors boosted its holdings in GlaxoSmithKline by 104.4% during the third quarter. JNBA Financial Advisors now owns 836 shares of the pharmaceutical company’s stock valued at $32,000 after purchasing an additional 427 shares in the last quarter. Finally, SouthState Corp acquired a new stake in GlaxoSmithKline during the third quarter valued at approximately $37,000. 26.59% of the stock is currently owned by institutional investors.

Shares of GSK stock traded down $0.14 during trading hours on Tuesday, reaching $46.06. The company had a trading volume of 147,816 shares, compared to its average volume of 4,974,159. The company has a 50 day moving average of $43.28 and a 200 day moving average of $42.86. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.79 and a quick ratio of 0.54. The firm has a market cap of $117.08 billion, a price-to-earnings ratio of 19.19, a P/E/G ratio of 1.88 and a beta of 0.72. GlaxoSmithKline plc has a 1-year low of $37.31 and a 1-year high of $46.97.

GlaxoSmithKline (NYSE:GSKGet Rating) last posted its quarterly earnings results on Wednesday, February 9th. The pharmaceutical company reported $0.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.06. The company had revenue of $12.84 billion for the quarter, compared to the consensus estimate of $12.62 billion. GlaxoSmithKline had a return on equity of 26.33% and a net margin of 12.90%. During the same quarter in the prior year, the business posted $0.62 EPS. As a group, sell-side analysts forecast that GlaxoSmithKline plc will post 3.25 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, April 7th. Stockholders of record on Friday, February 25th were paid a $0.615 dividend. The ex-dividend date of this dividend was Thursday, February 24th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 5.34%. This is an increase from GlaxoSmithKline’s previous quarterly dividend of $0.52. GlaxoSmithKline’s dividend payout ratio is 99.17%.

A number of equities research analysts have weighed in on GSK shares. Stifel Nicolaus started coverage on GlaxoSmithKline in a report on Monday, February 28th. They set a “hold” rating on the stock. DZ Bank cut shares of GlaxoSmithKline from a “buy” rating to a “hold” rating in a research note on Friday, February 11th. Barclays lifted their target price on shares of GlaxoSmithKline from GBX 1,675 ($21.79) to GBX 1,775 ($23.09) in a research note on Thursday, April 14th. StockNews.com upgraded shares of GlaxoSmithKline from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 30th. Finally, Zacks Investment Research cut shares of GlaxoSmithKline from a “buy” rating to a “hold” rating and set a $46.00 target price for the company. in a research note on Tuesday, January 4th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $910.50.

GlaxoSmithKline Company Profile (Get Rating)

GlaxoSmithKline plc, together with its subsidiaries, engages in the creation, discovery, development, manufacture, and marketing of pharmaceutical products, vaccines, over-the-counter medicines, and health-related consumer products in the United Kingdom, the United States, and internationally. It operates through four segments: Pharmaceuticals, Pharmaceuticals R&D, Vaccines, and Consumer Healthcare.

Further Reading

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Institutional Ownership by Quarter for GlaxoSmithKline (NYSE:GSK)

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