Comerica Securities Inc. Purchases 1,471 Shares of GlaxoSmithKline PLC (GSK)

Comerica Securities Inc. boosted its stake in GlaxoSmithKline PLC (NYSE:GSK) by 20.1% during the first quarter, Holdings Channel reports. The firm owned 8,802 shares of the pharmaceutical company’s stock after buying an additional 1,471 shares during the period. Comerica Securities Inc.’s holdings in GlaxoSmithKline PLC were worth $371,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. Renaissance Technologies LLC boosted its stake in shares of GlaxoSmithKline PLC by 231.8% in the fourth quarter. Renaissance Technologies LLC now owns 3,085,500 shares of the pharmaceutical company’s stock valued at $118,823,000 after buying an additional 2,155,500 shares during the period. Two Sigma Investments LP boosted its stake in shares of GlaxoSmithKline PLC by 55.6% in the fourth quarter. Two Sigma Investments LP now owns 2,960,534 shares of the pharmaceutical company’s stock valued at $114,010,000 after buying an additional 1,057,506 shares during the period. Norges Bank purchased a new stake in shares of GlaxoSmithKline PLC during the fourth quarter valued at about $19,206,000. Equity Investment Corp Acquisition Inc boosted its stake in shares of GlaxoSmithKline PLC by 19.9% in the first quarter. Equity Investment Corp Acquisition Inc now owns 2,792,497 shares of the pharmaceutical company’s stock valued at $117,732,000 after buying an additional 463,028 shares during the period. Finally, Karp Capital Management Corp purchased a new stake in shares of GlaxoSmithKline PLC during the first quarter valued at about $18,066,000. 8.97% of the stock is currently owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for GlaxoSmithKline PLC (NYSE:GSK)

Shares of GlaxoSmithKline PLC (NYSE:GSK) traded up 0.90% during trading on Friday, reaching $43.82. The company’s stock had a trading volume of 1,920,459 shares. GlaxoSmithKline PLC has a 1-year low of $37.20 and a 1-year high of $45.58. The stock has a 50 day moving average of $42.98 and a 200-day moving average of $40.87. The company has a market capitalization of $107.05 billion, a PE ratio of 50.14 and a beta of 1.04.

GlaxoSmithKline PLC (NYSE:GSK) last posted its earnings results on Wednesday, April 26th. The pharmaceutical company reported $0.62 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.62. The company had revenue of $9.23 billion during the quarter, compared to analysts’ expectations of $9.09 billion. GlaxoSmithKline PLC had a return on equity of 113.31% and a net margin of 5.48%. On average, analysts expect that GlaxoSmithKline PLC will post $2.82 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 13th. Shareholders of record on Friday, May 12th will be paid a dividend of $0.483 per share. This is a boost from GlaxoSmithKline PLC’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Wednesday, May 10th. This represents a $1.93 annualized dividend and a yield of 4.41%. GlaxoSmithKline PLC’s dividend payout ratio (DPR) is 232.53%.

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Several equities analysts have recently weighed in on the company. BNP Paribas raised GlaxoSmithKline PLC from an “underperform” rating to a “neutral” rating and cut their target price for the company from $45.58 to $37.20 in a research report on Wednesday, April 5th. J P Morgan Chase & Co reissued a “neutral” rating on shares of GlaxoSmithKline PLC in a research report on Wednesday, May 31st. Exane BNP Paribas raised GlaxoSmithKline PLC from an “underperform” rating to a “neutral” rating in a research report on Wednesday, April 5th. Zacks Investment Research downgraded GlaxoSmithKline PLC from a “buy” rating to a “hold” rating in a research report on Wednesday, March 29th. Finally, TheStreet raised GlaxoSmithKline PLC from a “c” rating to a “b” rating in a research report on Friday, May 19th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $45.25.

GlaxoSmithKline PLC Company Profile

GlaxoSmithKline plc is a global healthcare company. The Company operates through three segments: Pharmaceuticals, Vaccines and Consumer Healthcare. The Company focuses on its research across six areas: Respiratory diseases, human immunodeficiency virus (HIV)/infectious diseases, Vaccines, Immuno-inflammation, Oncology and Rare diseases.

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