GlaxoSmithKline plc (NYSE:GSK) Major Shareholder Acquires $9,999,976.00 in Stock

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GlaxoSmithKline plc (NYSE:GSK) major shareholder Plc Glaxosmithkline purchased 357,142 shares of GlaxoSmithKline stock in a transaction dated Friday, October 18th. The stock was bought at an average cost of $28.00 per share, with a total value of $9,999,976.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Plc Glaxosmithkline also recently made the following trade(s):

  • On Tuesday, September 10th, Plc Glaxosmithkline purchased 177,777 shares of GlaxoSmithKline stock. The stock was bought at an average cost of $45.00 per share, with a total value of $7,999,965.00.

GSK stock traded down $0.08 on Tuesday, hitting $42.52. 2,714,287 shares of the company’s stock traded hands, compared to its average volume of 2,503,895. GlaxoSmithKline plc has a 1-year low of $36.41 and a 1-year high of $43.22. The stock has a market cap of $106.08 billion, a price-to-earnings ratio of 13.46, a P/E/G ratio of 2.03 and a beta of 0.68. The stock has a fifty day moving average of $41.90 and a 200-day moving average of $40.81. The company has a current ratio of 0.71, a quick ratio of 0.48 and a debt-to-equity ratio of 7.86.

GlaxoSmithKline (NYSE:GSK) last released its earnings results on Wednesday, July 24th. The pharmaceutical company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.64 by $0.14. GlaxoSmithKline had a net margin of 13.84% and a return on equity of 175.45%. The business had revenue of $10.04 billion during the quarter, compared to analyst estimates of $9.55 billion. On average, equities research analysts anticipate that GlaxoSmithKline plc will post 2.97 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in GSK. 10 15 Associates Inc. raised its holdings in shares of GlaxoSmithKline by 2.4% during the second quarter. 10 15 Associates Inc. now owns 314,002 shares of the pharmaceutical company’s stock valued at $12,566,000 after acquiring an additional 7,266 shares during the period. Claraphi Advisory Network LLC raised its holdings in shares of GlaxoSmithKline by 10.0% during the second quarter. Claraphi Advisory Network LLC now owns 7,811 shares of the pharmaceutical company’s stock valued at $313,000 after acquiring an additional 711 shares during the period. Ingalls & Snyder LLC raised its holdings in shares of GlaxoSmithKline by 0.5% during the second quarter. Ingalls & Snyder LLC now owns 69,497 shares of the pharmaceutical company’s stock valued at $2,781,000 after acquiring an additional 375 shares during the period. First Trust Advisors LP raised its holdings in shares of GlaxoSmithKline by 14.6% during the first quarter. First Trust Advisors LP now owns 714,614 shares of the pharmaceutical company’s stock valued at $29,864,000 after acquiring an additional 90,928 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of GlaxoSmithKline by 49.5% during the second quarter. JPMorgan Chase & Co. now owns 1,010,809 shares of the pharmaceutical company’s stock valued at $40,392,000 after acquiring an additional 334,495 shares during the period. 11.12% of the stock is owned by institutional investors and hedge funds.

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of GlaxoSmithKline in a research note on Thursday, October 17th. Cantor Fitzgerald raised shares of GlaxoSmithKline from a “hold” rating to a “buy” rating in a research note on Friday, October 11th. Societe Generale raised shares of GlaxoSmithKline from a “sell” rating to a “buy” rating in a research note on Tuesday, September 3rd. ValuEngine raised shares of GlaxoSmithKline from a “sell” rating to a “hold” rating in a research note on Monday. Finally, Jefferies Financial Group reissued a “buy” rating on shares of GlaxoSmithKline in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company’s stock. GlaxoSmithKline currently has an average rating of “Hold” and an average target price of $41.79.

GlaxoSmithKline Company Profile

GlaxoSmithKline plc engages in the creation, discovery, development, manufacture, and marketing of vaccines, over-the-counter medicines, and health-related consumer products worldwide. It operates through four segments: Pharmaceuticals, Pharmaceuticals R&D, Vaccines, and Consumer Healthcare. The company offers pharmaceutical products comprising medicines in the therapeutic areas, such as respiratory, anti-virals, central nervous system, cardiovascular and urogenital, metabolic, anti-bacterials, dermatology, rare diseases, immuno-inflammation, and HIV, as well as vaccines.

Further Reading: Initial Coin Offerings entail a high degree of risk

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