Kornitzer Capital Management Inc. KS raised its position in shares of GlaxoSmithKline plc (NYSE:GSK) by 0.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,016,958 shares of the pharmaceutical company’s stock after purchasing an additional 4,445 shares during the quarter. GlaxoSmithKline accounts for approximately 0.7% of Kornitzer Capital Management Inc. KS’s holdings, making the stock its 28th biggest position. Kornitzer Capital Management Inc. KS’s holdings in GlaxoSmithKline were worth $40,699,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in GSK. D Orazio & Associates Inc. grew its stake in shares of GlaxoSmithKline by 200.0% during the 1st quarter. D Orazio & Associates Inc. now owns 600 shares of the pharmaceutical company’s stock valued at $25,000 after acquiring an additional 400 shares during the period. Berman Capital Advisors LLC grew its stake in shares of GlaxoSmithKline by 58.1% during the 2nd quarter. Berman Capital Advisors LLC now owns 656 shares of the pharmaceutical company’s stock valued at $26,000 after acquiring an additional 241 shares during the period. Financial Gravity Wealth Inc. grew its stake in shares of GlaxoSmithKline by 62.7% during the 2nd quarter. Financial Gravity Wealth Inc. now owns 799 shares of the pharmaceutical company’s stock valued at $32,000 after acquiring an additional 308 shares during the period. Reilly Financial Advisors LLC grew its stake in shares of GlaxoSmithKline by 36.7% during the 1st quarter. Reilly Financial Advisors LLC now owns 950 shares of the pharmaceutical company’s stock valued at $36,000 after acquiring an additional 255 shares during the period. Finally, Princeton Global Asset Management LLC bought a new position in shares of GlaxoSmithKline during the 1st quarter valued at approximately $37,000. Institutional investors and hedge funds own 11.26% of the company’s stock.
A number of brokerages recently issued reports on GSK. Cowen reiterated a “hold” rating and set a $45.00 price objective on shares of GlaxoSmithKline in a research note on Monday, June 10th. JPMorgan Chase & Co. assumed coverage on GlaxoSmithKline in a report on Tuesday. They issued a “neutral” rating on the stock. Zacks Investment Research cut GlaxoSmithKline from a “buy” rating to a “hold” rating in a report on Thursday, April 25th. Finally, Morgan Stanley reissued an “underweight” rating on shares of GlaxoSmithKline in a report on Monday, June 17th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $42.66.
NYSE GSK traded up $0.36 during trading hours on Tuesday, reaching $40.60. The company’s stock had a trading volume of 813,493 shares, compared to its average volume of 2,391,487. The business’s 50-day moving average is $40.89. The company has a quick ratio of 0.48, a current ratio of 0.71 and a debt-to-equity ratio of 7.86. GlaxoSmithKline plc has a 1 year low of $36.41 and a 1 year high of $42.47. The stock has a market cap of $100.39 billion, a P/E ratio of 12.85, a price-to-earnings-growth ratio of 1.97 and a beta of 0.71.
GlaxoSmithKline (NYSE:GSK) last posted its quarterly earnings results on Wednesday, July 24th. The pharmaceutical company reported $0.78 EPS for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.14. GlaxoSmithKline had a return on equity of 175.45% and a net margin of 13.84%. The company had revenue of $10.04 billion for the quarter, compared to analysts’ expectations of $9.55 billion. Sell-side analysts anticipate that GlaxoSmithKline plc will post 2.91 EPS for the current fiscal 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.
Further Reading: Does a trade war provide a risk to the global economy?
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: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.