Westside Investment Management Inc. Takes Position in GlaxoSmithKline plc (NYSE:GSK)

Westside Investment Management Inc. acquired a new stake in shares of GlaxoSmithKline plc (NYSE:GSK) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,260 shares of the pharmaceutical company’s stock, valued at approximately $50,000.

Several other large investors have also recently modified their holdings of the company. Equity Investment Corp raised its stake in shares of GlaxoSmithKline by 3.9% during the first quarter. Equity Investment Corp now owns 2,776,791 shares of the pharmaceutical company’s stock valued at $116,042,000 after acquiring an additional 105,044 shares during the last quarter. Parametric Portfolio Associates LLC increased its position in shares of GlaxoSmithKline by 4.1% during the first quarter. Parametric Portfolio Associates LLC now owns 2,765,250 shares of the pharmaceutical company’s stock valued at $115,560,000 after buying an additional 107,713 shares during the period. Brandes Investment Partners LP increased its position in shares of GlaxoSmithKline by 2.1% during the first quarter. Brandes Investment Partners LP now owns 2,085,398 shares of the pharmaceutical company’s stock valued at $87,149,000 after buying an additional 42,656 shares during the period. Dimensional Fund Advisors LP increased its position in shares of GlaxoSmithKline by 5.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,769,859 shares of the pharmaceutical company’s stock valued at $67,626,000 after buying an additional 88,148 shares during the period. Finally, Kahn Brothers Group Inc. DE increased its position in shares of GlaxoSmithKline by 1.2% during the first quarter. Kahn Brothers Group Inc. DE now owns 1,276,550 shares of the pharmaceutical company’s stock valued at $53,347,000 after buying an additional 15,610 shares during the period. 11.26% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Plc Glaxosmithkline acquired 333,333 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was bought at an average price of $15.00 per share, for a total transaction of $4,999,995.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 10.00% of the company’s stock.

GSK has been the topic of several research analyst reports. Morgan Stanley reiterated an “underweight” rating on shares of GlaxoSmithKline in a research report on Monday, June 17th. Zacks Investment Research cut shares of GlaxoSmithKline from a “buy” rating to a “hold” rating in a research report on Thursday, April 25th. Finally, Cowen reiterated a “hold” rating and set a $45.00 price target on shares of GlaxoSmithKline in a research report on Monday, June 10th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $42.66.

GSK remained flat at $$40.32 during trading on Wednesday. 1,407,154 shares of the company’s stock traded hands, compared to its average volume of 2,621,013. The company has a 50 day moving average price of $40.88. The company has a debt-to-equity ratio of 7.86, a quick ratio of 0.48 and a current ratio of 0.71. The firm has a market cap of $100.01 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 2.00 and a beta of 0.71. GlaxoSmithKline plc has a fifty-two week low of $36.41 and a fifty-two week high of $42.47.

GlaxoSmithKline (NYSE:GSK) last released its earnings results on Wednesday, July 24th. The pharmaceutical company reported $0.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.14. The firm had revenue of $10.04 billion during the quarter, compared to analyst estimates of $9.55 billion. GlaxoSmithKline had a net margin of 13.84% and a return on equity of 175.45%. As a group, analysts forecast that GlaxoSmithKline plc will post 2.91 earnings per share for the current year.

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.

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Institutional Ownership by Quarter for GlaxoSmithKline (NYSE:GSK)

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