Perigon Wealth Management LLC Reduces Holdings in GlaxoSmithKline plc (NYSE:GSK)

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Perigon Wealth Management LLC trimmed its holdings in GlaxoSmithKline plc (NYSE:GSK) by 4.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 6,466 shares of the pharmaceutical company’s stock after selling 278 shares during the period. Perigon Wealth Management LLC’s holdings in GlaxoSmithKline were worth $247,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Dodge & Cox boosted its stake in GlaxoSmithKline by 0.3% during the second quarter. Dodge & Cox now owns 88,209,189 shares of the pharmaceutical company’s stock worth $3,512,490,000 after buying an additional 261,944 shares during the period. Capital International Investors lifted its holdings in shares of GlaxoSmithKline by 14.0% in the 2nd quarter. Capital International Investors now owns 22,676,745 shares of the pharmaceutical company’s stock worth $902,988,000 after acquiring an additional 2,787,034 shares during the last quarter. Fisher Asset Management LLC boosted its position in shares of GlaxoSmithKline by 1.6% during the 3rd quarter. Fisher Asset Management LLC now owns 17,830,400 shares of the pharmaceutical company’s stock worth $681,300,000 after purchasing an additional 282,409 shares during the period. Black Creek Investment Management Inc. increased its holdings in GlaxoSmithKline by 4.8% in the 2nd quarter. Black Creek Investment Management Inc. now owns 9,086,870 shares of the pharmaceutical company’s stock valued at $361,839,000 after purchasing an additional 418,371 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in GlaxoSmithKline by 3.4% in the second quarter. Renaissance Technologies LLC now owns 9,061,321 shares of the pharmaceutical company’s stock valued at $360,822,000 after purchasing an additional 298,300 shares during the period. 11.86% of the stock is owned by institutional investors.

GlaxoSmithKline stock opened at $43.76 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.54 and a debt-to-equity ratio of 0.95. The company has a fifty day simple moving average of $42.08 and a 200-day simple moving average of $40.70. The stock has a market cap of $117.83 billion, a P/E ratio of 18.54, a price-to-earnings-growth ratio of 2.46 and a beta of 0.74. GlaxoSmithKline plc has a 12-month low of $33.53 and a 12-month high of $44.09.

GlaxoSmithKline (NYSE:GSK) last announced its quarterly earnings results on Wednesday, October 27th. The pharmaceutical company reported $1.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.21. The company had revenue of $12.51 billion during the quarter, compared to the consensus estimate of $11.92 billion. GlaxoSmithKline had a return on equity of 26.27% and a net margin of 13.01%. As a group, sell-side analysts forecast that GlaxoSmithKline plc will post 3.05 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 13th. Shareholders of record on Friday, November 19th will be paid a $0.5234 dividend. This is a positive change from GlaxoSmithKline’s previous quarterly dividend of $0.52. This represents a $2.09 annualized dividend and a yield of 4.78%. The ex-dividend date of this dividend is Thursday, November 18th. GlaxoSmithKline’s dividend payout ratio is currently 87.29%.

Several equities research analysts recently issued reports on the company. Berenberg Bank reiterated a “buy” rating on shares of GlaxoSmithKline in a report on Wednesday, November 24th. Barclays raised shares of GlaxoSmithKline from an “underweight” rating to an “equal weight” rating in a research report on Friday, November 5th. Morgan Stanley restated an “equal weight” rating on shares of GlaxoSmithKline in a report on Wednesday, November 3rd. UBS Group reiterated a “neutral” rating on shares of GlaxoSmithKline in a report on Monday, November 8th. Finally, JPMorgan Chase & Co. restated a “neutral” rating on shares of GlaxoSmithKline in a research note on Monday, November 1st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $41.00.

About GlaxoSmithKline

GlaxoSmithKline Plc is a healthcare company, which engages in the research, development, and manufacture of pharmaceutical medicines, vaccines, and consumer healthcare products. It operates through the following segments: Pharmaceuticals; Pharmaceuticals R&D; Vaccines and Consumer Healthcare. The Pharmaceuticals segment focuses on developing medicines in respiratory and infectious diseases, oncology, and immuno-inflammation.

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