GSK plc (NYSE:GSK) Receives $43.25 Average Target Price from Brokerages

GSK plc (NYSE:GSK) has been assigned an average rating of “Moderate Buy” from the ten ratings firms that are covering the firm, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and three have issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $43.25.

Several analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft cut GSK from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Jefferies Financial Group cut GSK from a “buy” rating to a “hold” rating and reduced their target price for the company from $53.00 to $39.50 in a research note on Tuesday, November 12th. StockNews.com lowered GSK from a “strong-buy” rating to a “buy” rating in a research note on Sunday, January 5th. Finally, Guggenheim downgraded shares of GSK from a “buy” rating to a “neutral” rating in a research report on Thursday, October 31st.

Institutional Investors Weigh In On GSK

Several hedge funds have recently bought and sold shares of the business. Eastern Bank purchased a new position in shares of GSK during the third quarter valued at approximately $26,000. Sunbelt Securities Inc. raised its stake in 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 buying an additional 302 shares during the last quarter. Concord Wealth Partners boosted 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 acquiring an additional 547 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in GSK in the second quarter worth $37,000. Finally, Fortitude Family Office LLC purchased a new stake in shares of GSK in the third quarter worth $42,000. Institutional investors own 15.74% of the company’s stock.

GSK Price Performance

Shares of GSK stock opened at $33.72 on Tuesday. The company’s fifty day simple moving average is $34.46 and its two-hundred day simple moving average is $38.24. GSK has a 12-month low of $32.83 and a 12-month high of $45.92. The firm has a market cap of $69.89 billion, a PE ratio of 21.90, a price-to-earnings-growth ratio of 1.52 and a beta of 0.63. The company has a quick ratio of 0.53, a current ratio of 0.81 and a debt-to-equity ratio of 0.98.

GSK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Friday, November 15th were issued a $0.3928 dividend. This is an increase from GSK’s previous quarterly dividend of $0.38. The ex-dividend date was Friday, November 15th. This represents a $1.57 dividend on an annualized basis and a yield of 4.66%. GSK’s dividend payout ratio is 98.70%.

About GSK

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.