As Glaxosmithkline Plc (GSK) Share Value Rose, Shareholder First Allied Advisory Services INC Boosted Its Position

March 13, 2018 - By Adrian Mccoy

First Allied Advisory Services Inc increased its stake in Glaxosmithkline Plc (GSK) by 194.65% based on its latest 2017Q3 regulatory filing with the SEC. First Allied Advisory Services Inc bought 118,697 shares as the company’s stock rose 5.47% with the market. The institutional investor held 179,678 shares of the major pharmaceuticals company at the end of 2017Q3, valued at $7.34 million, up from 60,981 at the end of the previous reported quarter. First Allied Advisory Services Inc who had been investing in Glaxosmithkline Plc for a number of months, seems to be bullish on the $90.49 billion market cap company. The stock decreased 1.42% or $0.535 during the last trading session, reaching $37.115. About 1.33M shares traded. GlaxoSmithKline plc (NYSE:GSK) has risen 4.26% since March 13, 2017 and is uptrending. It has underperformed by 12.44% the S&P500.

First Allied Advisory Services Inc, which manages about $4.57B and $2.32 billion US Long portfolio, decreased its stake in Ishares Tr (IWM) by 44,274 shares to 40,251 shares, valued at $5.97 million in 2017Q3, according to the filing. It also reduced its holding in Merck & Co Inc (NYSE:MRK) by 89,702 shares in the quarter, leaving it with 66,805 shares, and cut its stake in Gabelli Equity Tr Inc (GAB).

More recent GlaxoSmithKline plc (NYSE:GSK) news were published by: Benzinga.com which released: “Height Casts 65% Odds That Congress Rolls Back Pharma Discounts” on March 07, 2018. Also Dividend.com published the news titled: “How Does Taxation of ADR Stocks Affect Investors?” on August 31, 2017. Benzinga.com‘s news article titled: “CDC Still Recommends Sanofi, GlaxoSmithKline Vaccines As Flu-Related Deaths Rise” with publication date: February 12, 2018 was also an interesting one.

GlaxoSmithKline plc (NYSE:GSK) Ratings Coverage

Among 18 analysts covering GlaxoSmithKline (NYSE:GSK), 8 have Buy rating, 1 Sell and 9 Hold. Therefore 44% are positive. GlaxoSmithKline had 28 analyst reports since September 8, 2015 according to SRatingsIntel. The stock of GlaxoSmithKline plc (NYSE:GSK) earned “Buy” rating by Bank of America on Wednesday, December 9. The stock of GlaxoSmithKline plc (NYSE:GSK) has “Buy” rating given on Friday, May 26 by Berenberg. On Tuesday, October 20 the stock rating was upgraded by Credit Suisse to “Neutral”. The firm has “Hold” rating by Cowen & Co given on Wednesday, February 14. The company was upgraded on Thursday, July 14 by Jefferies. The rating was upgraded by Bank of America on Tuesday, September 8 to “Neutral”. The firm earned “Neutral” rating on Wednesday, July 5 by Citigroup. Argus Research maintained it with “Buy” rating and $48 target in Monday, December 7 report. The rating was downgraded by BNP Paribas on Wednesday, September 14 to “Underperform”. The company was upgraded on Monday, November 27 by UBS.

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