GSK (NYSE:GSK) Rating Lowered to Hold at Jefferies Financial Group

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

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

GSK Stock Down 2.3 %

NYSE:GSK opened at $35.52 on Tuesday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.53 and a current ratio of 0.81. The firm has a market cap of $73.62 billion, a P/E ratio of 23.07, a P/E/G ratio of 1.39 and a beta of 0.66. GSK has a fifty-two week low of $34.29 and a fifty-two week high of $45.92. The firm has a 50-day simple moving average of $39.80 and a two-hundred day simple moving average of $40.88.

GSK Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders 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 4.42%. GSK’s dividend payout ratio (DPR) is presently 100.00%.

Insider Transactions at GSK

In related news, major shareholder Plc Gsk acquired 2,791,930 shares of GSK stock in a transaction dated Friday, September 27th. The stock was purchased at an average cost of $8.00 per share, for a total transaction of $22,335,440.00. Following the purchase, the insider now directly owns 16,775,691 shares of the company’s stock, valued at approximately $134,205,528. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 10.00% of the company’s stock.

Institutional Trading of GSK

A number of hedge funds and other institutional investors have recently modified their holdings of GSK. Eastern Bank purchased a new stake in GSK in the 3rd quarter worth $26,000. Concord Wealth Partners grew its position in shares of GSK by 231.8% during the third quarter. Concord Wealth Partners now owns 783 shares of the pharmaceutical company’s stock worth $32,000 after purchasing an additional 547 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in GSK during the 2nd quarter valued at approximately $37,000. Fortitude Family Office LLC bought a new stake in GSK during the 3rd quarter valued at approximately $42,000. Finally, PrairieView Partners LLC purchased a new position in GSK in the 2nd quarter worth approximately $47,000. 15.74% of the stock is owned by hedge funds and other 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.