Suntrust Banks Inc. Grows Holdings in GlaxoSmithKline PLC (GSK)

Suntrust Banks Inc. raised its position in GlaxoSmithKline PLC (NYSE:GSK) by 17.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 448,854 shares of the pharmaceutical company’s stock after acquiring an additional 67,200 shares during the quarter. Suntrust Banks Inc.’s holdings in GlaxoSmithKline PLC were worth $19,353,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. grew its position in GlaxoSmithKline PLC by 45.4% in the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 2,410 shares of the pharmaceutical company’s stock valued at $102,000 after acquiring an additional 753 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its position in GlaxoSmithKline PLC by 1,747.4% in the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 2,494 shares of the pharmaceutical company’s stock valued at $105,000 after acquiring an additional 2,359 shares in the last quarter. Proficio Capital Partners LLC grew its position in GlaxoSmithKline PLC by 233.0% in the 1st quarter. Proficio Capital Partners LLC now owns 2,844 shares of the pharmaceutical company’s stock valued at $122,000 after acquiring an additional 1,990 shares in the last quarter. Heritage Trust Co acquired a new position in GlaxoSmithKline PLC in the 1st quarter valued at about $123,000. Finally, Westwood Holdings Group Inc. grew its position in GlaxoSmithKline PLC by 15.7% in the 1st quarter. Westwood Holdings Group Inc. now owns 2,950 shares of the pharmaceutical company’s stock valued at $124,000 after acquiring an additional 400 shares in the last quarter. 9.28% of the stock is owned by institutional investors.

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Several research firms have weighed in on GSK. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of GlaxoSmithKline PLC in a research report on Thursday. Citigroup Inc. downgraded GlaxoSmithKline PLC from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 5th. BidaskClub downgraded GlaxoSmithKline PLC from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Berenberg Bank raised GlaxoSmithKline PLC from a “hold” rating to a “buy” rating in a research report on Friday, May 26th. Finally, TheStreet downgraded GlaxoSmithKline PLC from a “b” rating to a “c+” rating in a research report on Wednesday, July 26th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $44.67.

Shares of GlaxoSmithKline PLC (NYSE:GSK) traded up 0.62% during trading on Friday, hitting $40.58. The stock had a trading volume of 2,769,085 shares. GlaxoSmithKline PLC has a one year low of $37.20 and a one year high of $44.54. The company has a market cap of $99.18 billion, a P/E ratio of 39.32 and a beta of 1.03. The stock’s 50-day moving average price is $39.76 and its 200-day moving average price is $41.75.

GlaxoSmithKline PLC (NYSE:GSK) last announced its earnings results on Wednesday, July 26th. The pharmaceutical company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.68 by $0.02. The business had revenue of $9.36 billion for the quarter, compared to the consensus estimate of $9.52 billion. GlaxoSmithKline PLC had a return on equity of 114.93% and a net margin of 6.48%. On average, equities research analysts forecast that GlaxoSmithKline PLC will post $2.87 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 12th. Investors of record on Friday, August 11th will be issued a dividend of $0.491 per share. This is an increase from GlaxoSmithKline PLC’s previous quarterly dividend of $0.46. This represents a $1.96 annualized dividend and a dividend yield of 4.84%. The ex-dividend date of this dividend is Wednesday, August 9th. GlaxoSmithKline PLC’s dividend payout ratio (DPR) is presently 197.00%.

About GlaxoSmithKline PLC

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.

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

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