State Street Corp Sells 275,182 Shares of GlaxoSmithKline plc (NYSE:GSK)

State Street Corp reduced its position in GlaxoSmithKline plc (NYSE:GSK) by 2.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,425,973 shares of the pharmaceutical company’s stock after selling 275,182 shares during the period. State Street Corp owned approximately 0.38% of GlaxoSmithKline worth $406,683,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of GSK. Berman Capital Advisors LLC lifted its stake in GlaxoSmithKline by 58.1% during the 2nd quarter. Berman Capital Advisors LLC now owns 656 shares of the pharmaceutical company’s stock valued at $26,000 after acquiring an additional 241 shares in the last quarter. Sigma Planning Corp lifted its stake in GlaxoSmithKline by 0.8% during the 2nd quarter. Sigma Planning Corp now owns 32,090 shares of the pharmaceutical company’s stock valued at $1,284,000 after acquiring an additional 250 shares in the last quarter. Hall Laurie J Trustee lifted its stake in GlaxoSmithKline by 15.7% during the 3rd quarter. Hall Laurie J Trustee now owns 1,842 shares of the pharmaceutical company’s stock valued at $79,000 after acquiring an additional 250 shares in the last quarter. NTV Asset Management LLC lifted its stake in GlaxoSmithKline by 1.7% during the 3rd quarter. NTV Asset Management LLC now owns 15,287 shares of the pharmaceutical company’s stock valued at $652,000 after acquiring an additional 250 shares in the last quarter. Finally, Trillium Asset Management LLC lifted its stake in GlaxoSmithKline by 2.2% during the 2nd quarter. Trillium Asset Management LLC now owns 11,519 shares of the pharmaceutical company’s stock valued at $461,000 after acquiring an additional 252 shares in the last quarter. Institutional investors own 11.27% of the company’s stock.

In other GlaxoSmithKline news, Director Plc Glaxosmithkline bought 177,777 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was purchased at an average cost of $45.00 per share, with a total value of $7,999,965.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 10.00% of the company’s stock.

Several equities analysts have weighed in on the company. Jefferies Financial Group restated a “buy” rating on shares of GlaxoSmithKline in a research note on Thursday, August 29th. ValuEngine cut GlaxoSmithKline from a “hold” rating to a “sell” rating in a research note on Tuesday. JPMorgan Chase & Co. restated a “neutral” rating on shares of GlaxoSmithKline in a research note on Tuesday, August 13th. Societe Generale upgraded GlaxoSmithKline from a “sell” rating to a “buy” rating in a research note on Tuesday, September 3rd. Finally, Cantor Fitzgerald upgraded GlaxoSmithKline from a “hold” rating to a “buy” rating in a research note on Friday, October 11th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $43.66.

Shares of GlaxoSmithKline stock opened at $44.93 on Tuesday. GlaxoSmithKline plc has a 1 year low of $36.41 and a 1 year high of $46.01. The firm has a market cap of $113.44 billion, a PE ratio of 14.22, a P/E/G ratio of 3.00 and a beta of 0.69. The stock has a fifty day moving average price of $44.12 and a 200-day moving average price of $41.64. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.82 and a quick ratio of 0.56.

GlaxoSmithKline (NYSE:GSK) last announced its earnings results on Wednesday, October 30th. The pharmaceutical company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.10. GlaxoSmithKline had a return on equity of 92.73% and a net margin of 13.76%. The firm had revenue of $11.57 billion during the quarter, compared to analyst estimates of $11.34 billion. As a group, equities analysts anticipate that GlaxoSmithKline plc will post 3.13 EPS for the current fiscal year.

GlaxoSmithKline Company Profile

GlaxoSmithKline plc engages in the creation, discovery, development, manufacture, and marketing of vaccines, over-the-counter medicines, and health-related consumer products worldwide. It operates through four segments: Pharmaceuticals, Pharmaceuticals R&D, Vaccines, and Consumer Healthcare. The company offers pharmaceutical products comprising medicines in the therapeutic areas, such as respiratory, anti-virals, central nervous system, cardiovascular and urogenital, metabolic, anti-bacterials, dermatology, rare diseases, immuno-inflammation, and HIV, as well as vaccines.

Recommended Story: Cost of Equity For A Business, Investors

Want to see what other hedge funds are holding GSK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GlaxoSmithKline plc (NYSE:GSK).

Institutional Ownership by Quarter for GlaxoSmithKline (NYSE:GSK)

Receive News & Ratings for GlaxoSmithKline Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GlaxoSmithKline and related companies with MarketBeat.com's FREE daily email newsletter.