GSK (NYSE:GSK) Sees Large Volume Increase – Time to Buy?

GSK plc (NYSE:GSK) saw unusually-high trading volume on Friday . Approximately 3,507,937 shares changed hands during trading, a decline of 13% from the previous session’s volume of 4,039,613 shares.The stock last traded at $32.99 and had previously closed at $34.00.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on GSK shares. Argus upgraded GSK to a “strong-buy” rating in a research report on Wednesday, August 7th. Jefferies Financial Group cut GSK from a “buy” rating to a “hold” rating and lowered their price target for the stock from $53.00 to $39.50 in a report on Tuesday, November 12th. Guggenheim lowered shares of GSK from a “buy” rating to a “neutral” rating in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft lowered shares of GSK from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Barclays raised shares of GSK to a “hold” rating in a research note on Tuesday, August 27th. Seven investment analysts have rated the stock with a hold rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.25.

GSK Price Performance

The company has a market capitalization of $69.12 billion, a PE ratio of 21.65, a price-to-earnings-growth ratio of 1.35 and a beta of 0.66. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.81 and a quick ratio of 0.53. The stock’s 50 day simple moving average is $39.08 and its 200-day simple moving average is $40.69.

GSK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Friday, November 15th will be paid a dividend of $0.3928 per share. This is an increase 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 dividend payout ratio is presently 100.00%.

Insider Buying and Selling at GSK

In related news, major shareholder Plc Gsk purchased 2,791,930 shares of the business’s stock in a transaction on Friday, September 27th. The shares were bought at an average price of $8.00 per share, for a total transaction of $22,335,440.00. Following the acquisition, the insider now directly owns 16,775,691 shares in the company, valued at $134,205,528. This trade represents a 19.97 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 10.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On GSK

A number of institutional investors and hedge funds have recently made changes to their positions in GSK. Kingsview Wealth Management LLC grew its holdings in GSK by 3.4% during the 1st quarter. Kingsview Wealth Management LLC now owns 17,276 shares of the pharmaceutical company’s stock worth $741,000 after acquiring an additional 563 shares in the last quarter. Blair William & Co. IL raised its stake in GSK by 14.9% in the first quarter. Blair William & Co. IL now owns 23,493 shares of the pharmaceutical company’s stock valued at $1,007,000 after buying an additional 3,044 shares in the last quarter. TIAA Trust National Association purchased a new stake in GSK during the 1st quarter worth about $302,000. Catalytic Wealth RIA LLC boosted its position in shares of GSK by 7.1% during the 1st quarter. Catalytic Wealth RIA LLC now owns 10,618 shares of the pharmaceutical company’s stock worth $455,000 after acquiring an additional 708 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC increased its holdings in shares of GSK by 10.7% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 136,740 shares of the pharmaceutical company’s stock valued at $5,862,000 after acquiring an additional 13,201 shares during the last quarter. 15.74% of the stock is owned by institutional investors and hedge funds.

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.