GSK (NYSE:GSK) Lowered to Buy Rating by StockNews.com

StockNews.com downgraded shares of GSK (NYSE:GSK) from a strong-buy rating to a buy rating in a research report released on Friday.

A number of other equities analysts have also issued reports on GSK. Jefferies Financial Group lowered GSK from a “buy” rating to a “hold” rating and cut their target price for the company from $53.00 to $39.50 in a research report on Tuesday, November 12th. Barclays raised shares of GSK to a “hold” rating in a report on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft lowered shares of GSK from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Finally, Guggenheim lowered shares of GSK from a “buy” rating to a “neutral” rating in a research note on Thursday, October 31st. Seven analysts have rated the stock with a hold rating, one has given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.25.

GSK Stock Up 0.5 %

Shares of NYSE GSK opened at $33.60 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.53 and a current ratio of 0.81. GSK has a 1 year low of $32.83 and a 1 year high of $45.92. The stock’s 50-day simple moving average is $35.65 and its 200-day simple moving average is $38.92. The firm has a market cap of $69.64 billion, a price-to-earnings ratio of 21.82, a PEG ratio of 1.54 and a beta of 0.64.

GSK Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Friday, November 15th will be given a dividend of $0.3928 per share. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.68%. This is a boost from GSK’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, November 15th. GSK’s dividend payout ratio is presently 98.70%.

Insider Activity at GSK

In other news, major shareholder Plc Gsk bought 2,791,930 shares of GSK stock in a transaction on Friday, September 27th. The stock was purchased at an average cost of $8.00 per share, with a total value of $22,335,440.00. Following the purchase, the insider now directly owns 16,775,691 shares of the company’s stock, valued at approximately $134,205,528. This trade represents a 19.97 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 10.00% of the company’s stock.

Hedge Funds Weigh In On GSK

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Eastern Bank acquired a new position in GSK during the 3rd quarter worth $26,000. Sunbelt Securities Inc. raised its stake in shares of GSK by 73.8% during the third quarter. Sunbelt Securities Inc. now owns 711 shares of the pharmaceutical company’s stock valued at $29,000 after purchasing an additional 302 shares in the last quarter. Concord Wealth Partners lifted its holdings in GSK by 231.8% in the third quarter. Concord Wealth Partners now owns 783 shares of the pharmaceutical company’s stock worth $32,000 after purchasing an additional 547 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in GSK in the 2nd quarter valued at about $37,000. Finally, Fortitude Family Office LLC acquired a new position in GSK during the 3rd quarter valued at about $42,000. 15.74% of the stock is owned by institutional investors.

GSK Company Profile

GSK plc, together with its subsidiaries, engages in the research, development, and manufacture of vaccines, and specialty and general medicines to prevent and treat disease in the United Kingdom, the United States, and internationally. It operates through two segments, Commercial Operations and Total R&D.