Schafer Cullen Capital Management Inc. Trims Position in GlaxoSmithKline PLC (GSK)

Schafer Cullen Capital Management Inc. lowered its position in shares of GlaxoSmithKline PLC (NYSE:GSK) by 13.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,996,833 shares of the pharmaceutical company’s stock after selling 308,551 shares during the period. Schafer Cullen Capital Management Inc. owned about 0.08% of GlaxoSmithKline PLC worth $86,103,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Colony Group LLC grew its position in GlaxoSmithKline PLC by 5.7% during the 2nd quarter. Colony Group LLC now owns 72,299 shares of the pharmaceutical company’s stock worth $3,118,000 after acquiring an additional 3,917 shares during the last quarter. High Falls Advisors Inc grew its position in GlaxoSmithKline PLC by 4.9% during the 2nd quarter. High Falls Advisors Inc now owns 8,212 shares of the pharmaceutical company’s stock worth $354,000 after acquiring an additional 384 shares during the last quarter. 1st Global Advisors Inc. grew its position in GlaxoSmithKline PLC by 0.4% during the 2nd quarter. 1st Global Advisors Inc. now owns 5,271 shares of the pharmaceutical company’s stock worth $227,000 after acquiring an additional 19 shares during the last quarter. Verition Fund Management LLC bought a new stake in GlaxoSmithKline PLC during the 2nd quarter worth $1,300,000. Finally, BB&T Investment Services Inc. bought a new stake in GlaxoSmithKline PLC during the 2nd quarter worth $556,000. Institutional investors and hedge funds own 9.28% of the company’s stock.

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A number of brokerages recently weighed in on GSK. Citigroup Inc. restated a “neutral” rating on shares of GlaxoSmithKline PLC in a research report on Thursday, July 27th. TheStreet lowered GlaxoSmithKline PLC from a “b” rating to a “c+” rating in a research report on Wednesday, July 26th. Argus restated a “buy” rating and set a $50.00 price objective on shares of GlaxoSmithKline PLC in a research report on Thursday, August 31st. Zacks Investment Research upgraded GlaxoSmithKline PLC from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a research report on Tuesday, July 18th. Finally, J P Morgan Chase & Co restated a “neutral” rating on shares of GlaxoSmithKline PLC in a research report on Thursday, September 14th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $44.67.

GlaxoSmithKline PLC (NYSE:GSK) last posted its earnings results on Wednesday, July 26th. The pharmaceutical company reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.02. The company had revenue of $9.36 billion for the quarter, compared to analysts’ expectations of $9.52 billion. GlaxoSmithKline PLC had a return on equity of 114.93% and a net margin of 6.48%.

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 12th. Investors of record on Friday, August 11th were paid a $0.491 dividend. The ex-dividend date of this dividend was Wednesday, August 9th. This is a boost from GlaxoSmithKline PLC’s previous quarterly dividend of $0.46. This represents a $1.96 annualized dividend and a dividend yield of 4.79%. GlaxoSmithKline PLC’s dividend payout ratio (DPR) is presently 198.00%.

GlaxoSmithKline PLC 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.

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

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