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

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

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

Insider Activity at GSK

In related news, major shareholder Plc Gsk bought 2,791,930 shares of the company’s stock in a transaction dated Friday, September 27th. The stock was purchased at an average price of $8.00 per share, for a total transaction of $22,335,440.00. Following the acquisition, the insider now 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 purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 10.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On GSK

A number of institutional investors and hedge funds have recently modified their holdings of the business. Eastern Bank purchased a new position in shares of GSK during the third quarter valued at $26,000. Sunbelt Securities Inc. grew its holdings in GSK by 73.8% during the 3rd quarter. Sunbelt Securities Inc. now owns 711 shares of the pharmaceutical company’s stock worth $29,000 after acquiring an additional 302 shares in the last quarter. Concord Wealth Partners increased its position in GSK by 231.8% during the 3rd quarter. Concord Wealth Partners now owns 783 shares of the pharmaceutical company’s stock valued at $32,000 after purchasing an additional 547 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in shares of GSK in the 2nd quarter valued at about $37,000. Finally, Fortitude Family Office LLC bought a new stake in shares of GSK in the 3rd quarter valued at about $42,000. 15.74% of the stock is owned by institutional investors.

GSK Stock Down 0.6 %

Shares of NYSE:GSK opened at $33.95 on Friday. The stock has a market capitalization of $70.36 billion, a price-to-earnings ratio of 22.05, a PEG ratio of 1.54 and a beta of 0.64. The stock has a fifty day simple moving average of $36.18 and a two-hundred day simple moving average of $39.21. GSK has a 12-month low of $32.83 and a 12-month high of $45.92. The company has a current ratio of 0.81, a quick ratio of 0.53 and a debt-to-equity ratio of 0.98.

GSK Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.3928 per share. This represents a $1.57 annualized dividend and a dividend yield of 4.63%. This is a boost from GSK’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, November 15th. GSK’s dividend payout ratio is 99.35%.

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.