11,101 Shares in GlaxoSmithKline plc (NYSE:GSK) Purchased by Stonegate Investment Group LLC

Stonegate Investment Group LLC purchased a new position in GlaxoSmithKline plc (NYSE:GSKGet Rating) during the fourth quarter, Holdings Channel.com reports. The firm purchased 11,101 shares of the pharmaceutical company’s stock, valued at approximately $490,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Wedbush Securities Inc. increased its stake in GlaxoSmithKline by 1.5% in the 4th quarter. Wedbush Securities Inc. now owns 15,370 shares of the pharmaceutical company’s stock worth $678,000 after purchasing an additional 222 shares in the last quarter. Hohimer Wealth Management LLC increased its stake in GlaxoSmithKline by 0.4% in the 4th quarter. Hohimer Wealth Management LLC now owns 65,177 shares of the pharmaceutical company’s stock worth $2,874,000 after purchasing an additional 246 shares in the last quarter. IFP Advisors Inc increased its stake in GlaxoSmithKline by 5.1% in the 4th quarter. IFP Advisors Inc now owns 5,343 shares of the pharmaceutical company’s stock worth $238,000 after purchasing an additional 258 shares in the last quarter. Prospera Financial Services Inc increased its stake in GlaxoSmithKline by 2.7% in the 3rd quarter. Prospera Financial Services Inc now owns 9,909 shares of the pharmaceutical company’s stock worth $379,000 after purchasing an additional 262 shares in the last quarter. Finally, Manchester Capital Management LLC increased its stake in GlaxoSmithKline by 70.9% in the 3rd quarter. Manchester Capital Management LLC now owns 651 shares of the pharmaceutical company’s stock worth $25,000 after purchasing an additional 270 shares in the last quarter. 32.76% of the stock is currently owned by hedge funds and other institutional investors.

Shares of GSK traded down $0.48 on Wednesday, reaching $44.23. 50,327 shares of the stock traded hands, compared to its average volume of 5,136,629. The firm has a market cap of $112.42 billion, a price-to-earnings ratio of 16.14, a P/E/G ratio of 1.92 and a beta of 0.64. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.19 and a quick ratio of 0.95. GlaxoSmithKline plc has a 12 month low of $37.80 and a 12 month high of $46.97. The stock’s 50-day moving average price is $44.20 and its 200-day moving average price is $43.60.

GlaxoSmithKline (NYSE:GSKGet Rating) last released its quarterly earnings data on Wednesday, April 27th. The pharmaceutical company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.11. The business had revenue of $13.12 billion for the quarter, compared to analysts’ expectations of $11.97 billion. GlaxoSmithKline had a return on equity of 28.13% and a net margin of 14.03%. As a group, equities research analysts forecast that GlaxoSmithKline plc will post 3.19 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Friday, May 20th will be paid a $0.3496 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date is Thursday, May 19th. GlaxoSmithKline’s dividend payout ratio is currently 85.92%.

Several equities analysts have weighed in on GSK shares. JPMorgan Chase & Co. lifted their target price on GlaxoSmithKline from GBX 1,740 ($21.45) to GBX 1,900 ($23.42) in a research note on Thursday, April 28th. Stifel Nicolaus assumed coverage on GlaxoSmithKline in a report on Monday, February 28th. They set a “hold” rating for the company. DZ Bank lowered GlaxoSmithKline from a “buy” rating to a “hold” rating in a report on Friday, February 11th. Barclays lifted their price target on GlaxoSmithKline from GBX 1,775 ($21.88) to GBX 1,800 ($22.19) in a report on Friday, April 29th. Finally, StockNews.com upgraded GlaxoSmithKline from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 11th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $1,248.67.

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

Want to see what other hedge funds are holding GSK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GlaxoSmithKline plc (NYSE:GSKGet Rating).

Institutional Ownership by Quarter for GlaxoSmithKline (NYSE:GSK)

Receive News & Ratings for GlaxoSmithKline Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GlaxoSmithKline and related companies with MarketBeat.com's FREE daily email newsletter.