Wedbush Securities Inc. Sells 9,659 Shares of GlaxoSmithKline PLC (GSK)

Wedbush Securities Inc. decreased its holdings in GlaxoSmithKline PLC (NYSE:GSK) by 23.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 31,998 shares of the pharmaceutical company’s stock after selling 9,659 shares during the quarter. Wedbush Securities Inc.’s holdings in GlaxoSmithKline PLC were worth $1,299,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. 1st Global Advisors Inc. lifted its position in GlaxoSmithKline PLC by 0.4% in the 2nd quarter. 1st Global Advisors Inc. now owns 5,271 shares of the pharmaceutical company’s stock valued at $227,000 after acquiring an additional 19 shares in the last quarter. Carroll Financial Associates Inc. lifted its position in GlaxoSmithKline PLC by 0.4% in the 2nd quarter. Carroll Financial Associates Inc. now owns 8,690 shares of the pharmaceutical company’s stock valued at $374,000 after acquiring an additional 35 shares in the last quarter. King Luther Capital Management Corp lifted its position in GlaxoSmithKline PLC by 1.0% in the 2nd quarter. King Luther Capital Management Corp now owns 5,432 shares of the pharmaceutical company’s stock valued at $234,000 after acquiring an additional 55 shares in the last quarter. First National Bank of Omaha lifted its position in GlaxoSmithKline PLC by 0.3% in the 2nd quarter. First National Bank of Omaha now owns 19,177 shares of the pharmaceutical company’s stock valued at $827,000 after acquiring an additional 57 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in GlaxoSmithKline PLC by 1.9% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 3,374 shares of the pharmaceutical company’s stock valued at $137,000 after acquiring an additional 64 shares in the last quarter. 9.29% of the stock is currently owned by institutional investors and hedge funds.

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The business also recently disclosed 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. This is an increase from GlaxoSmithKline PLC’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $2.01 dividend on an annualized basis and a yield of 5.59%. GlaxoSmithKline PLC’s dividend payout ratio is 162.30%.

Several brokerages recently weighed in on GSK. TheStreet raised shares of GlaxoSmithKline PLC from a “c+” rating to a “b” rating in a research report on Wednesday, October 25th. Bank of America Corporation cut shares of GlaxoSmithKline PLC from a “buy” rating to a “neutral” rating in a research report on Thursday, October 26th. Zacks Investment Research cut shares of GlaxoSmithKline PLC from a “buy” rating to a “hold” rating in a research report on Tuesday, October 24th. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of GlaxoSmithKline PLC in a research report on Tuesday, October 24th. Finally, Morgan Stanley cut shares of GlaxoSmithKline PLC 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, nine have assigned a hold rating and five have assigned a buy rating to the company. GlaxoSmithKline PLC currently has an average rating of “Hold” and an average price target of $44.33.

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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