GSK (NYSE:GSK) Stock Rating Lowered by Jefferies Financial Group

Jefferies Financial Group lowered shares of GSK (NYSE:GSK) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning, Marketbeat reports. The firm currently has $39.50 price target on the pharmaceutical company’s stock, down from their previous price target of $53.00.

GSK has been the subject of a number of other research reports. Argus upgraded shares of GSK to a “strong-buy” rating in a research report on Wednesday, August 7th. Barclays upgraded GSK to a “hold” rating in a research note on Tuesday, August 27th. Finally, Guggenheim lowered GSK from a “buy” rating to a “neutral” rating in a report on Thursday, October 31st. Seven equities research analysts have rated the stock with a hold rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $43.25.

GSK Stock Down 1.9 %

NYSE:GSK opened at $33.35 on Tuesday. GSK has a 1-year low of $32.83 and a 1-year high of $45.92. The firm has a market capitalization of $69.11 billion, a price-to-earnings ratio of 21.37, a PEG ratio of 1.35 and a beta of 0.66. The company has a current ratio of 0.81, a quick ratio of 0.53 and a debt-to-equity ratio of 0.98. The business’s fifty day moving average price is $39.29 and its 200 day moving average price is $40.75.

GSK Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Friday, November 15th will be issued a $0.3928 dividend. This is a positive change from GSK’s previous quarterly dividend of $0.38. This represents a $1.57 annualized dividend and a yield of 4.71%. The ex-dividend date of this dividend is Friday, November 15th. GSK’s payout ratio is 100.00%.

Insiders Place Their Bets

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

Institutional Investors Weigh In On GSK

Several hedge funds and other institutional investors have recently modified their holdings of GSK. 1832 Asset Management L.P. lifted its holdings in shares of GSK by 9.1% during the 1st quarter. 1832 Asset Management L.P. now owns 3,078 shares of the pharmaceutical company’s stock worth $132,000 after acquiring an additional 257 shares during the period. Boltwood Capital Management lifted its stake in GSK by 2.5% during the second quarter. Boltwood Capital Management now owns 11,133 shares of the pharmaceutical company’s stock worth $429,000 after purchasing an additional 270 shares during the period. First Affirmative Financial Network boosted its holdings in GSK by 4.7% during the second quarter. First Affirmative Financial Network now owns 6,359 shares of the pharmaceutical company’s stock valued at $245,000 after purchasing an additional 283 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of GSK by 9.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,542 shares of the pharmaceutical company’s stock valued at $137,000 after purchasing an additional 303 shares during the period. Finally, Mesirow Financial Investment Management Inc. lifted its position in shares of GSK by 2.0% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 16,693 shares of the pharmaceutical company’s stock worth $682,000 after buying an additional 323 shares during the period. Institutional investors and hedge funds own 15.74% of the company’s stock.

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.