GSK (NYSE:GSK) Cut to “Hold” at Jefferies Financial Group

Jefferies Financial Group cut shares of GSK (NYSE:GSK) from a buy rating to a hold rating in a research report released on Tuesday morning, MarketBeat Ratings reports. The brokerage currently has $39.50 target price on the pharmaceutical company’s stock, down from their prior target price of $53.00.

Several other analysts have also recently commented on the company. Guggenheim cut GSK from a “buy” rating to a “neutral” rating in a report on Thursday, October 31st. Barclays raised shares of GSK to a “hold” rating in a research note on Tuesday, August 27th. Finally, Argus raised shares of GSK to a “strong-buy” rating in a research note on Wednesday, August 7th. Seven research analysts have rated the stock with a hold rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $43.25.

GSK Stock Down 1.9 %

Shares of GSK opened at $33.35 on Tuesday. The company has a market capitalization of $69.11 billion, a P/E ratio of 21.37, a PEG ratio of 1.35 and a beta of 0.66. GSK has a one year low of $32.83 and a one year high of $45.92. The business’s 50 day simple moving average is $39.29 and its 200-day simple moving average is $40.75. 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 Increases Dividend

The firm also recently disclosed 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 is Friday, November 15th. GSK’s dividend payout ratio is currently 100.00%.

Insiders Place Their Bets

In other GSK news, major shareholder Plc Gsk acquired 2,791,930 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were acquired 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 of the company’s stock, valued at approximately $134,205,528. This trade represents a 19.97 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 10.00% of the company’s stock.

Institutional Investors Weigh In On GSK

Institutional investors have recently added to or reduced their stakes in the stock. Eastern Bank bought a new stake in shares of GSK during the 3rd quarter worth approximately $26,000. Concord Wealth Partners grew its position in shares of GSK by 231.8% in the 3rd quarter. Concord Wealth Partners now owns 783 shares of the pharmaceutical company’s stock valued at $32,000 after acquiring an additional 547 shares during the period. Ashton Thomas Private Wealth LLC acquired a new position in shares of GSK during the 2nd quarter worth about $37,000. Fortitude Family Office LLC bought a new stake in shares of GSK in the 3rd quarter valued at about $42,000. Finally, PrairieView Partners LLC acquired a new stake in GSK in the 2nd quarter valued at about $47,000. 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.