First Allied Advisory Services INC Has Upped Its Glaxosmithkline Plc (GSK) Position by $4.75 Million

January 23, 2018 - By Winifred Garcia

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 $87.69 billion market cap company. The stock increased 0.34% or $0.13 during the last trading session, reaching $38.69. About 2.26M shares traded. GlaxoSmithKline plc (NYSE:GSK) has risen 4.26% since January 23, 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 First Tr Nas100 Eq Weighted (QQEW) by 55,185 shares in the quarter, leaving it with 3,675 shares, and cut its stake in Gabelli Equity Tr Inc (GAB).

More recent GlaxoSmithKline plc (NYSE:GSK) news were published by: Dividend.com which released: “How Does Taxation of ADR Stocks Affect Investors?” on August 31, 2017. Also Benzinga.com published the news titled: “As Price Falls, Vetr Upgrades GlaxoSmithKline To Buy” on April 20, 2017. Benzinga.com‘s news article titled: “GlaxoSmithKline Recent Pullback Delivers A Healthy Opportunity To Buy” with publication date: August 30, 2017 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 has $50 highest and $38.0 lowest target. $41’s average target is 5.97% above currents $38.69 stock price. GlaxoSmithKline had 27 analyst reports since September 8, 2015 according to SRatingsIntel. The stock of GlaxoSmithKline plc (NYSE:GSK) earned “Neutral” rating by BNP Paribas on Tuesday, September 15. The company was downgraded on Friday, September 8 by Morgan Stanley. The stock of GlaxoSmithKline plc (NYSE:GSK) earned “Overweight” rating by Piperjaffray on Friday, September 23. Berenberg upgraded the stock to “Buy” rating in Friday, May 26 report. The company was maintained on Monday, December 7 by Argus Research. The firm has “Buy” rating by Investec given on Thursday, October 20. The rating was upgraded by Bank of America to “Buy” on Wednesday, December 9. The rating was downgraded by Citigroup to “Neutral” on Wednesday, July 5. The rating was maintained by JP Morgan with “Neutral” on Wednesday, April 26. On Wednesday, September 14 the stock rating was downgraded by BNP Paribas to “Underperform”.

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