GSK plc (NYSE:GSK) Receives Average Rating of “Moderate Buy” from Brokerages

GSK plc (NYSE:GSK) has received an average rating of “Moderate Buy” from the ten brokerages that are currently covering the firm, Marketbeat reports. Seven investment analysts have rated the stock with a hold rating and three have given a strong buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $43.25.

Several brokerages recently weighed in on GSK. Deutsche Bank Aktiengesellschaft lowered GSK from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Guggenheim lowered GSK from a “buy” rating to a “neutral” rating in a research report on Thursday, October 31st. Jefferies Financial Group downgraded shares of GSK from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $53.00 to $39.50 in a report on Tuesday, November 12th. StockNews.com upgraded shares of GSK from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Finally, Barclays upgraded shares of GSK to a “hold” rating in a research report on Tuesday, August 27th.

Insider Buying and Selling at GSK

In other GSK news, major shareholder Plc Gsk purchased 2,791,930 shares of the stock in a transaction dated Friday, September 27th. The shares were bought at an average cost of $8.00 per share, with a total value of $22,335,440.00. Following the completion of the acquisition, the insider now 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 10.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On GSK

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC boosted its stake in GSK by 5.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 166,255 shares of the pharmaceutical company’s stock valued at $6,401,000 after purchasing an additional 8,989 shares in the last quarter. ORG Partners LLC grew its holdings in GSK by 663.5% during the second quarter. ORG Partners LLC now owns 1,611 shares of the pharmaceutical company’s stock worth $62,000 after acquiring an additional 1,400 shares during the period. Triad Wealth Partners LLC acquired a new position in GSK during the second quarter worth about $49,000. Blue Trust Inc. raised its position in GSK by 168.4% in the second quarter. Blue Trust Inc. now owns 2,464 shares of the pharmaceutical company’s stock worth $95,000 after acquiring an additional 1,546 shares in the last quarter. Finally, NORTHSTAR ASSET MANAGEMENT Co LLC lifted its holdings in GSK by 13.8% in the 2nd quarter. NORTHSTAR ASSET MANAGEMENT Co LLC now owns 6,005 shares of the pharmaceutical company’s stock valued at $231,000 after acquiring an additional 728 shares during the last quarter. Institutional investors own 15.74% of the company’s stock.

GSK Trading Down 0.8 %

GSK opened at $34.17 on Friday. The stock has a market capitalization of $70.81 billion, a PE ratio of 22.19, a P/E/G ratio of 1.33 and a beta of 0.64. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.81 and a quick ratio of 0.53. GSK has a 12-month low of $32.83 and a 12-month high of $45.92. The firm’s fifty day moving average price is $36.36 and its 200 day moving average price is $39.40.

GSK Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Friday, November 15th will be given a $0.3928 dividend. The ex-dividend date is Friday, November 15th. This is an increase from GSK’s previous quarterly dividend of $0.38. This represents a $1.57 annualized dividend and a yield of 4.60%. GSK’s dividend payout ratio (DPR) is currently 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.