Chartwell Investment Partners LLC Sells 9,660 Shares of GlaxoSmithKline PLC (GSK)

Chartwell Investment Partners LLC lowered its stake in GlaxoSmithKline PLC (NYSE:GSK) by 1.6% during the second quarter, Holdings Channel reports. The institutional investor owned 591,210 shares of the pharmaceutical company’s stock after selling 9,660 shares during the period. GlaxoSmithKline PLC comprises about 1.0% of Chartwell Investment Partners LLC’s portfolio, making the stock its 4th largest position. Chartwell Investment Partners LLC’s holdings in GlaxoSmithKline PLC were worth $25,493,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Douglass Winthrop Advisors LLC increased its stake in shares of GlaxoSmithKline PLC by 10.7% in the second quarter. Douglass Winthrop Advisors LLC now owns 7,790 shares of the pharmaceutical company’s stock valued at $336,000 after buying an additional 750 shares in the last quarter. Ballentine Partners LLC increased its stake in GlaxoSmithKline PLC by 5.3% in the second quarter. Ballentine Partners LLC now owns 10,838 shares of the pharmaceutical company’s stock valued at $451,000 after buying an additional 549 shares during the period. GW Henssler & Associates Ltd. increased its stake in GlaxoSmithKline PLC by 7.3% in the second quarter. GW Henssler & Associates Ltd. now owns 202,286 shares of the pharmaceutical company’s stock valued at $8,723,000 after buying an additional 13,694 shares during the period. Proficio Capital Partners LLC increased its stake in GlaxoSmithKline PLC by 16.1% in the second quarter. Proficio Capital Partners LLC now owns 3,301 shares of the pharmaceutical company’s stock valued at $135,000 after buying an additional 457 shares during the period. Finally, Checchi Capital Advisers LLC increased its stake in GlaxoSmithKline PLC by 3.6% in the second quarter. Checchi Capital Advisers LLC now owns 29,989 shares of the pharmaceutical company’s stock valued at $1,293,000 after buying an additional 1,055 shares during the period. Institutional investors and hedge funds own 8.99% of the company’s stock.

GlaxoSmithKline PLC (NYSE GSK) opened at 39.05 on Friday. GlaxoSmithKline PLC has a 12 month low of $37.20 and a 12 month high of $44.54. The stock has a market cap of $95.44 billion, a P/E ratio of 37.77 and a beta of 1.03. The firm’s 50-day moving average is $41.27 and its 200-day moving average is $41.84.

GlaxoSmithKline PLC (NYSE:GSK) last released its quarterly earnings data on Wednesday, July 26th. The pharmaceutical company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. The firm had revenue of $9.36 billion during the quarter, compared to the consensus estimate of $9.52 billion. GlaxoSmithKline PLC had a net margin of 6.48% and a return on equity of 114.93%. On average, equities analysts forecast that GlaxoSmithKline PLC will post $2.85 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 12th. Shareholders of record on Friday, August 11th will be paid a $0.491 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 5.03%. This is a boost from GlaxoSmithKline PLC’s previous quarterly dividend of $0.46. The ex-dividend date is Wednesday, August 9th. GlaxoSmithKline PLC’s dividend payout ratio (DPR) is presently 197.00%.

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Several research firms recently commented on GSK. ValuEngine downgraded shares of GlaxoSmithKline PLC from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. J P Morgan Chase & Co reiterated a “neutral” rating on shares of GlaxoSmithKline PLC in a research report on Friday, June 16th. TheStreet upgraded shares of GlaxoSmithKline PLC from a “c” rating to a “b” rating in a research report on Friday, May 19th. Citigroup Inc. downgraded shares of GlaxoSmithKline PLC from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 5th. Finally, Zacks Investment Research downgraded shares of GlaxoSmithKline PLC from a “buy” rating to a “hold” rating in a research report on Friday, July 21st. Two analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $44.67.

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.

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

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