As Glaxosmithkline Plc (GSK) Valuation Rose, First Foundation Advisors Has Raised Holding; Verizon Communicatn (VZ) Shareholder Stanley-Laman Group LTD Has Lowered Its Position as Valuation Declined

February 15, 2018 - By Hazel Jackson

First Foundation Advisors increased its stake in Glaxosmithkline Plc (GSK) by 193.89% based on its latest 2017Q3 regulatory filing with the SEC. First Foundation Advisors bought 12,983 shares as the company’s stock rose 5.47% with the market. The hedge fund held 19,679 shares of the major pharmaceuticals company at the end of 2017Q3, valued at $799,000, up from 6,696 at the end of the previous reported quarter. First Foundation Advisors who had been investing in Glaxosmithkline Plc for a number of months, seems to be bullish on the $83.04B market cap company. The stock increased 0.99% or $0.36 during the last trading session, reaching $36.82. About 3.44 million shares traded. GlaxoSmithKline plc (NYSE:GSK) has risen 4.26% since February 15, 2017 and is uptrending. It has underperformed by 12.44% the S&P500.

Stanley-Laman Group Ltd decreased its stake in Verizon Communicatn (VZ) by 12.15% based on its latest 2017Q3 regulatory filing with the SEC. Stanley-Laman Group Ltd sold 8,216 shares as the company’s stock declined 7.66% while stock markets rallied. The institutional investor held 59,431 shares of the telecommunications equipment company at the end of 2017Q3, valued at $2.94M, down from 67,647 at the end of the previous reported quarter. Stanley-Laman Group Ltd who had been investing in Verizon Communicatn for a number of months, seems to be less bullish one the $201.95 billion market cap company. The stock decreased 1.14% or $0.57 during the last trading session, reaching $49.51. About 17.56 million shares traded. Verizon Communications Inc. (NYSE:VZ) has declined 8.48% since February 15, 2017 and is downtrending. It has underperformed by 25.18% the S&P500.

Among 18 analysts covering GlaxoSmithKline (NYSE:GSK), 8 have Buy rating, 1 Sell and 9 Hold. Therefore 44% are positive. GlaxoSmithKline had 27 analyst reports since September 8, 2015 according to SRatingsIntel. The rating was downgraded by Citigroup to “Neutral” on Wednesday, July 5. The rating was upgraded by JP Morgan on Monday, October 12 to “Neutral”. The firm has “Overweight” rating given on Friday, September 23 by Piperjaffray. The firm has “Hold” rating by Bank of America given on Thursday, October 26. The firm earned “Neutral” rating on Friday, June 16 by J P Morgan Chase Co. Berenberg upgraded GlaxoSmithKline plc (NYSE:GSK) on Friday, May 26 to “Buy” rating. The stock has “Hold” rating by Cowen & Co on Monday, December 11. The stock has “Buy” rating by Bank of America on Wednesday, December 9. The firm has “Hold” rating given on Friday, February 26 by Cantor Fitzgerald. The rating was upgraded by BNP Paribas on Wednesday, April 5 to “Neutral”.

First Foundation Advisors, which manages about $3.20 billion and $1.76 billion US Long portfolio, decreased its stake in Bristol Myers Squibb Co (NYSE:BMY) by 17,706 shares to 30,482 shares, valued at $1.94M in 2017Q3, according to the filing. It also reduced its holding in Lam Research Corp (NASDAQ:LRCX) by 6,478 shares in the quarter, leaving it with 1,517 shares, and cut its stake in Essent Group Ltd (NYSE:ESNT).

Among 28 analysts covering Verizon Communications Inc. (NYSE:VZ), 7 have Buy rating, 0 Sell and 21 Hold. Therefore 25% are positive. Verizon Communications Inc. had 74 analyst reports since July 22, 2015 according to SRatingsIntel. On Monday, April 24 the stock rating was maintained by RBC Capital Markets with “Hold”. Nomura upgraded the shares of VZ in report on Tuesday, December 12 to “Buy” rating. The firm earned “Sector Outperform” rating on Wednesday, October 21 by Scotia Capital. The company was maintained on Wednesday, October 11 by KeyBanc Capital Markets. The firm has “Hold” rating by Cowen & Co given on Tuesday, July 18. Cowen & Co maintained Verizon Communications Inc. (NYSE:VZ) on Tuesday, January 23 with “Hold” rating. The rating was maintained by RBC Capital Markets on Friday, October 20 with “Hold”. The firm has “Hold” rating given on Friday, August 14 by Zacks. Wells Fargo upgraded the shares of VZ in report on Monday, November 20 to “Outperform” rating. On Thursday, June 15 the stock rating was maintained by Macquarie Research with “Hold”.

Stanley-Laman Group Ltd, which manages about $747.00M and $374.64 million US Long portfolio, upped its stake in Lab Co Of Amer Hldg (NYSE:LH) by 2,843 shares to 31,352 shares, valued at $4.73M in 2017Q3, according to the filing. It also increased its holding in Grace W R & Co (NYSE:GRA) by 6,983 shares in the quarter, for a total of 77,912 shares, and has risen its stake in Fuller Company H B (NYSE:FUL).

Since August 28, 2017, it had 0 buys, and 3 sales for $89,365 activity.

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