Schafer Cullen Capital Management Inc Buys 40,506 Shares of GlaxoSmithKline plc (NYSE:GSK)

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Schafer Cullen Capital Management Inc increased its holdings in GlaxoSmithKline plc (NYSE:GSK) by 2.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,495,199 shares of the pharmaceutical company’s stock after purchasing an additional 40,506 shares during the quarter. Schafer Cullen Capital Management Inc owned 0.06% of GlaxoSmithKline worth $63,815,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Integrated Wealth Concepts LLC grew its position in GlaxoSmithKline by 96.0% during the third quarter. Integrated Wealth Concepts LLC now owns 11,043 shares of the pharmaceutical company’s stock valued at $471,000 after purchasing an additional 5,409 shares in the last quarter. Sunbelt Securities Inc. grew its position in GlaxoSmithKline by 148.2% during the third quarter. Sunbelt Securities Inc. now owns 13,226 shares of the pharmaceutical company’s stock valued at $564,000 after purchasing an additional 7,897 shares in the last quarter. Cowen Investment Management LLC purchased a new position in GlaxoSmithKline during the third quarter valued at approximately $1,746,000. Parametric Portfolio Associates LLC grew its position in GlaxoSmithKline by 2.9% in the third quarter. Parametric Portfolio Associates LLC now owns 2,736,756 shares of the pharmaceutical company’s stock worth $116,805,000 after acquiring an additional 76,197 shares in the last quarter. Finally, Covington Capital Management grew its position in GlaxoSmithKline by 981.4% in the third quarter. Covington Capital Management now owns 23,250 shares of the pharmaceutical company’s stock worth $679,000 after acquiring an additional 21,100 shares in the last quarter. Institutional investors and hedge funds own 11.27% of the company’s stock.

GSK has been the subject of several recent research reports. Jefferies Financial Group reissued a “buy” rating on shares of GlaxoSmithKline in a research report on Thursday, August 29th. Societe Generale upgraded shares of GlaxoSmithKline from a “sell” rating to a “buy” rating in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of GlaxoSmithKline in a research note on Tuesday, August 13th. ValuEngine cut shares of GlaxoSmithKline from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, Leerink Swann assumed coverage on shares of GlaxoSmithKline in a research note on Monday. They issued an “outperform” rating and a $53.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $43.66.

GSK stock traded up $0.42 during mid-day trading on Wednesday, hitting $45.07. 3,044,625 shares of the company were exchanged, compared to its average volume of 2,573,651. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.56 and a current ratio of 0.82. The firm’s 50 day simple moving average is $44.17 and its 200 day simple moving average is $41.66. GlaxoSmithKline plc has a 1-year low of $36.41 and a 1-year high of $46.01. The firm has a market cap of $113.44 billion, a P/E ratio of 14.26, a P/E/G ratio of 3.00 and a beta of 0.69.

GlaxoSmithKline (NYSE:GSK) last released its quarterly earnings data on Wednesday, October 30th. The pharmaceutical company reported $0.95 EPS for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.10. GlaxoSmithKline had a net margin of 13.76% and a return on equity of 92.73%. The firm had revenue of $11.57 billion during the quarter, compared to analysts’ expectations of $11.34 billion. On average, equities research analysts predict that GlaxoSmithKline plc will post 3.13 EPS for the current fiscal year.

In other news, major shareholder Plc Glaxosmithkline bought 357,142 shares of the company’s stock in a transaction dated Friday, October 18th. The stock was bought at an average price of $28.00 per share, with a total value of $9,999,976.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 10.00% of the stock is currently owned by company insiders.

GlaxoSmithKline 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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