GSK plc (NYSE:GSK) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of GSK plc (NYSE:GSK) have earned an average rating of “Moderate Buy” from the ten research firms that are currently covering the company, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and three have issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $43.25.

A number of equities research analysts have weighed in on the stock. StockNews.com raised shares of GSK from a “buy” rating to a “strong-buy” rating in a report on Thursday, December 12th. Jefferies Financial Group cut shares of GSK from a “buy” rating to a “hold” rating and reduced their target price for the stock from $53.00 to $39.50 in a report on Tuesday, November 12th. Barclays raised GSK to a “hold” rating in a report on Tuesday, August 27th. Guggenheim lowered GSK from a “buy” rating to a “neutral” rating in a research note on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft lowered GSK from a “buy” rating to a “hold” rating in a research report on Friday, November 15th.

GSK Trading Up 1.9 %

Shares of GSK stock opened at $34.23 on Friday. The business has a fifty day simple moving average of $36.00 and a 200-day simple moving average of $39.06. GSK has a fifty-two week low of $32.83 and a fifty-two week high of $45.92. The firm has a market cap of $70.94 billion, a price-to-earnings ratio of 22.23, a price-to-earnings-growth ratio of 1.54 and a beta of 0.64. The company has a quick ratio of 0.53, a current ratio of 0.81 and a debt-to-equity ratio of 0.98.

GSK Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Friday, November 15th will be given a dividend of $0.3928 per share. This represents a $1.57 annualized dividend and a yield of 4.59%. This is a positive change from GSK’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, November 15th. GSK’s payout ratio is presently 98.70%.

Insider Transactions at GSK

In other news, major shareholder Plc Gsk acquired 2,791,930 shares of GSK stock in a transaction that occurred on Friday, September 27th. The stock was purchased at an average price of $8.00 per share, with a total value of $22,335,440.00. Following the completion of the transaction, the insider now owns 16,775,691 shares in the company, valued at approximately $134,205,528. This trade represents a 19.97 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 10.00% of the stock is owned by insiders.

Institutional Investors Weigh In On GSK

Large investors have recently made changes to their positions in the company. Eastern Bank acquired a new position in shares of GSK during the 3rd quarter worth $26,000. Sunbelt Securities Inc. increased its holdings in shares of 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 purchasing an additional 302 shares during the period. Concord Wealth Partners raised its holdings in 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 in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of GSK in the second quarter valued at $37,000. Finally, Fortitude Family Office LLC bought a new stake in GSK in the 3rd quarter valued at $42,000. Institutional investors own 15.74% of the company’s stock.

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.