Boothe Investment Group Inc. Takes Position in GlaxoSmithKline plc (NYSE:GSK)

Boothe Investment Group Inc. purchased a new position in shares of GlaxoSmithKline plc (NYSE:GSK) during the first quarter, Holdings Channel reports. The institutional investor purchased 19,809 shares of the pharmaceutical company’s stock, valued at approximately $707,000. GlaxoSmithKline comprises 0.4% of Boothe Investment Group Inc.’s holdings, making the stock its 29th biggest holding.

A number of other hedge funds have also bought and sold shares of GSK. Kathmere Capital Management LLC purchased a new stake in shares of GlaxoSmithKline during the 4th quarter valued at $29,000. Concord Wealth Partners purchased a new stake in GlaxoSmithKline during the fourth quarter worth about $29,000. ADE LLC bought a new stake in GlaxoSmithKline in the fourth quarter worth about $30,000. Key Financial Inc purchased a new position in GlaxoSmithKline in the fourth quarter valued at about $31,000. Finally, BNC Wealth Management LLC bought a new position in shares of GlaxoSmithKline during the 3rd quarter valued at approximately $34,000. 11.83% of the stock is currently owned by institutional investors and hedge funds.

Several research firms recently commented on GSK. Barclays reiterated an “underweight” rating on shares of GlaxoSmithKline in a research note on Friday, February 5th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of GlaxoSmithKline in a research report on Tuesday, February 9th. Berenberg Bank reissued a “buy” rating on shares of GlaxoSmithKline in a report on Thursday, February 11th. UBS Group reaffirmed a “neutral” rating on shares of GlaxoSmithKline in a report on Monday, February 8th. Finally, Morgan Stanley reiterated an “equal weight” rating on shares of GlaxoSmithKline in a research note on Friday, February 12th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $41.00.

Shares of GSK traded up $0.51 during midday trading on Thursday, hitting $36.57. 269,956 shares of the company traded hands, compared to its average volume of 5,990,228. GlaxoSmithKline plc has a one year low of $33.26 and a one year high of $43.18. The firm has a market cap of $98.47 billion, a P/E ratio of 11.20, a PEG ratio of 2.93 and a beta of 0.67. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.90 and a quick ratio of 0.61. The stock has a 50-day moving average of $35.42 and a 200-day moving average of $36.60.

GlaxoSmithKline (NYSE:GSK) last posted its earnings results on Tuesday, February 2nd. The pharmaceutical company reported $0.62 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.02). GlaxoSmithKline had a return on equity of 29.60% and a net margin of 18.50%. The firm had revenue of $8.74 billion for the quarter, compared to the consensus estimate of $8.71 billion. During the same period last year, the company posted $0.39 EPS. The business’s revenue was down 1.8% on a year-over-year basis. Sell-side analysts forecast that GlaxoSmithKline plc will post 3.07 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 8th. Investors of record on Friday, February 19th will be paid a dividend of $0.628 per share. This is a positive change from GlaxoSmithKline’s previous quarterly dividend of $0.50. The ex-dividend date is Thursday, February 18th. This represents a $2.51 annualized dividend and a yield of 6.87%. GlaxoSmithKline’s dividend payout ratio (DPR) is currently 78.23%.

About GlaxoSmithKline

GlaxoSmithKline plc engages in the creation, discovery, development, manufacture, and marketing of pharmaceutical products, vaccines, over-the-counter medicines, and health-related consumer products in the United Kingdom, the United States, and internationally. It operates through four segments: Pharmaceuticals, Pharmaceuticals R&D, Vaccines, and Consumer Healthcare.

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Institutional Ownership by Quarter for GlaxoSmithKline (NYSE:GSK)

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