Published On: Fri, Sep 16th, 2016

Beaufort Securities Reiterates “Buy” Rating for GlaxoSmithKline PLC (GSK)

GlaxoSmithKline PLC (NYSE:GSK)‘s stock had its “buy” rating reiterated by Beaufort Securities in a research report issued to clients and investors on Friday.
Several other research analysts also recently weighed in on GSK. Zacks Investment Research upgraded shares of GlaxoSmithKline PLC from a “sell” rating to a “hold” rating in a research note on Monday, July 25th. Citigroup Inc. restated a “buy” rating on shares of GlaxoSmithKline PLC in a research note on Wednesday, August 10th. BNP Paribas downgraded shares of GlaxoSmithKline PLC from a “neutral” rating to an “underperform” rating in a research note on Tuesday. Jefferies Group upgraded shares of GlaxoSmithKline PLC from a “hold” rating to a “buy” rating in a research note on Thursday, July 14th. Finally, Argus upped their target price on shares of GlaxoSmithKline PLC from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, August 12th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $47.19.
GlaxoSmithKline PLC (NYSE:GSK) traded down 1.52% on Friday, reaching $42.88. 3,185,600 shares of the company’s stock were exchanged. The firm has a market capitalization of $104.22 billion, a price-to-earnings ratio of 2680.00 and a beta of 0.85. GlaxoSmithKline PLC has a 1-year low of $37.24 and a 1-year high of $45.58. The stock’s 50 day moving average price is $44.09 and its 200 day moving average price is $42.47.

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The company also recently disclosed a dividend, which will be paid on Thursday, October 13th. Investors of record on Friday, August 12th will be issued a $0.494 dividend. The ex-dividend date is Wednesday, August 10th. GlaxoSmithKline PLC’s dividend payout ratio (DPR) is presently 6,600.00%.
Several hedge funds have recently added to or reduced their stakes in GSK. FMR LLC boosted its stake in GlaxoSmithKline PLC by 29.8% in the second quarter. FMR LLC now owns 20,701,378 shares of the pharmaceutical company’s stock worth $897,198,000 after buying an additional 4,757,238 shares during the period. Fisher Asset Management LLC boosted its stake in GlaxoSmithKline PLC by 0.6% in the second quarter. Fisher Asset Management LLC now owns 11,730,875 shares of the pharmaceutical company’s stock worth $510,528,000 after buying an additional 73,020 shares during the period. State Street Corp boosted its stake in GlaxoSmithKline PLC by 1.1% in the second quarter. State Street Corp now owns 10,472,620 shares of the pharmaceutical company’s stock worth $453,884,000 after buying an additional 111,349 shares during the period. Bank of New York Mellon Corp boosted its stake in GlaxoSmithKline PLC by 0.6% in the second quarter. Bank of New York Mellon Corp now owns 5,976,687 shares of the pharmaceutical company’s stock worth $259,030,000 after buying an additional 35,788 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in GlaxoSmithKline PLC by 24.7% in the second quarter. Ameriprise Financial Inc. now owns 3,038,134 shares of the pharmaceutical company’s stock worth $132,800,000 after buying an additional 602,693 shares during the period. 9.03% of the stock is currently owned by institutional investors and hedge funds.
About GlaxoSmithKline PLC
GlaxoSmithKline plc (GSK) is a healthcare company. The Company is engaged in the creation and discovery, development, manufacture and marketing of pharmaceutical products, including vaccines, over-the-counter (OTC) medicines and health-related consumer products. The Company’s segments include Pharmaceuticals, Pharmaceuticals R&D, Vaccines and Consumer Healthcare.

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