Ameriprise Financial Inc. Sold 208,467 Shares of GlaxoSmithKline plc (GSK)

Ameriprise Financial Inc. Sold 208,467 Shares of GlaxoSmithKline plc (GSK)

Ameriprise Financial Inc. lowered its position in shares of GlaxoSmithKline plc (NYSE:GSK) by 5.3% during the first quarter, Holdings Channel reports. The firm owned 3,713,030 shares of the pharmaceutical company’s stock after selling 208,467 shares during the period. Ameriprise Financial Inc.’s holdings in GlaxoSmithKline plc were worth $157,760,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Wedbush Securities Inc. raised its position in GlaxoSmithKline plc by 3.3% in the first quarter. Wedbush Securities Inc. now owns 31,809 shares of the pharmaceutical company’s stock worth $1,341,000 after buying an additional 1,026 shares during the last quarter. Bell Bank raised its position in GlaxoSmithKline plc by 18.0% in the first quarter. Bell Bank now owns 52,662 shares of the pharmaceutical company’s stock worth $2,220,000 after buying an additional 8,027 shares during the last quarter. Sei Investments Co. raised its position in GlaxoSmithKline plc by 35.3% in the first quarter. Sei Investments Co. now owns 217,295 shares of the pharmaceutical company’s stock worth $9,161,000 after buying an additional 56,672 shares during the last quarter. Smith Salley & Associates raised its position in GlaxoSmithKline plc by 3.7% in the first quarter. Smith Salley & Associates now owns 73,823 shares of the pharmaceutical company’s stock worth $3,112,000 after buying an additional 2,609 shares during the last quarter. Finally, First Foundation Advisors purchased a new position in GlaxoSmithKline plc during the first quarter worth about $312,000. 8.41% of the stock is currently owned by institutional investors.

GlaxoSmithKline plc (NYSE GSK) traded up 1.933% during trading on Tuesday, hitting $43.495. The company had a trading volume of 1,165,787 shares. The company has a market capitalization of $106.26 billion, a price-to-earnings ratio of 49.652 and a beta of 0.94. GlaxoSmithKline plc has a 12-month low of $37.20 and a 12-month high of $45.58. The firm has a 50-day moving average of $41.95 and a 200 day moving average of $40.35.

GlaxoSmithKline plc (NYSE:GSK) last released its earnings results on Wednesday, April 26th. The pharmaceutical company reported $0.62 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.62. The company had revenue of $9.23 billion during the quarter, compared to the consensus estimate of $9.09 billion. GlaxoSmithKline plc had a return on equity of 100.68% and a net margin of 3.11%. On average, equities research analysts forecast that GlaxoSmithKline plc will post $2.82 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 13th. Stockholders of record on Friday, May 12th will be given a dividend of $0.483 per share. The ex-dividend date is Wednesday, May 10th. This represents a $1.93 dividend on an annualized basis and a dividend yield of 4.53%. This is an increase from GlaxoSmithKline plc’s previous quarterly dividend of $0.46. GlaxoSmithKline plc’s payout ratio is presently 389.36%.

A number of research analysts recently issued reports on GSK shares. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of GlaxoSmithKline plc in a report on Tuesday, February 7th. Deutsche Bank AG reaffirmed a “neutral” rating on shares of GlaxoSmithKline plc in a report on Thursday, February 9th. Berenberg Bank raised GlaxoSmithKline plc from a “hold” rating to a “buy” rating in a report on Friday. Kepler Capital Markets started coverage on GlaxoSmithKline plc in a report on Thursday, March 9th. They set a “reduce” rating on the stock. Finally, Jefferies Group LLC reaffirmed a “buy” rating on shares of GlaxoSmithKline plc in a report on Sunday, February 19th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “GSK”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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