GlaxoSmithKline (GSK) PT Set at $38.00 by Cowen

Cowen set a $38.00 target price on GlaxoSmithKline (NYSE:GSK) in a research note published on Monday morning. The firm currently has a hold rating on the pharmaceutical company’s stock.

A number of other research firms have also recently issued reports on GSK. J P Morgan Chase & Co restated a neutral rating on shares of GlaxoSmithKline in a research report on Tuesday, October 24th. BidaskClub upgraded shares of GlaxoSmithKline from a strong sell rating to a sell rating in a research report on Friday, August 25th. Investec cut shares of GlaxoSmithKline from a buy rating to a hold rating in a research report on Monday, November 6th. Zacks Investment Research upgraded shares of GlaxoSmithKline from a hold rating to a buy rating and set a $46.00 price objective on the stock in a research report on Wednesday, October 18th. Finally, Morgan Stanley cut shares of GlaxoSmithKline from an equal weight rating to an underweight rating in a research report on Friday, September 8th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company. GlaxoSmithKline presently has an average rating of Hold and a consensus target price of $39.37.

GlaxoSmithKline (NYSE GSK) opened at $35.24 on Monday. GlaxoSmithKline has a 52-week low of $34.52 and a 52-week high of $44.53. The stock has a market cap of $87,356.00, a PE ratio of 12.60, a price-to-earnings-growth ratio of 1.97 and a beta of 0.98. The company has a debt-to-equity ratio of 2.96, a current ratio of 0.64 and a quick ratio of 0.44.

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 11th. Investors of record on Friday, November 10th will be given a dividend of $0.5037 per share. The ex-dividend date is Thursday, November 9th. This represents a $2.01 annualized dividend and a dividend yield of 5.72%. This is a boost from GlaxoSmithKline’s previous quarterly dividend of $0.49. GlaxoSmithKline’s payout ratio is currently 163.12%.

In related news, major shareholder Plc Glaxosmithkline purchased 428,571 shares of GlaxoSmithKline stock in a transaction that occurred on Monday, November 6th. The shares were bought at an average price of $14.00 per share, for a total transaction of $5,999,994.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 10.00% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bessemer Group Inc. grew its holdings in GlaxoSmithKline by 22.9% in the second quarter. Bessemer Group Inc. now owns 28,734 shares of the pharmaceutical company’s stock worth $1,239,000 after purchasing an additional 5,356 shares during the period. TD Asset Management Inc. grew its holdings in GlaxoSmithKline by 8.5% in the second quarter. TD Asset Management Inc. now owns 34,546 shares of the pharmaceutical company’s stock worth $1,490,000 after purchasing an additional 2,698 shares during the period. First Trust Advisors LP grew its holdings in GlaxoSmithKline by 3.2% in the second quarter. First Trust Advisors LP now owns 452,533 shares of the pharmaceutical company’s stock worth $19,513,000 after purchasing an additional 14,240 shares during the period. Smith Asset Management Group LP grew its holdings in GlaxoSmithKline by 238.2% in the second quarter. Smith Asset Management Group LP now owns 14,700 shares of the pharmaceutical company’s stock worth $634,000 after purchasing an additional 10,354 shares during the period. Finally, Advisors Asset Management Inc. grew its holdings in GlaxoSmithKline by 11.2% in the second quarter. Advisors Asset Management Inc. now owns 157,995 shares of the pharmaceutical company’s stock worth $6,813,000 after purchasing an additional 15,882 shares during the period. Institutional investors own 9.83% of the company’s stock.

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About GlaxoSmithKline

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.

Analyst Recommendations for GlaxoSmithKline (NYSE:GSK)

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