GSK (NYSE:GSK) Sees Large Volume Increase – Should You Buy?

GSK PLC Sponsored ADR (NYSE:GSK) saw strong trading volume on Friday . Approximately 6,758,024 shares traded hands during mid-day trading, an increase of 46% from the previous session’s volume of 4,635,394 shares.The stock last traded at $51.6060 and had previously closed at $52.77.

Analyst Upgrades and Downgrades

GSK has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of GSK in a research note on Thursday, July 9th. Weiss Ratings downgraded shares of GSK from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, June 11th. HSBC upgraded GSK from a “reduce” rating to a “hold” rating in a research note on Monday, July 6th. Wall Street Zen raised GSK from a “hold” rating to a “buy” rating in a report on Saturday, June 27th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of GSK in a report on Tuesday, June 9th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $53.00.

GSK Trading Down 2.7%

The company has a market capitalization of $103.82 billion, a P/E ratio of 13.33, a PEG ratio of 3.29 and a beta of 0.35. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.52 and a current ratio of 0.79. The stock has a fifty day moving average of $51.52 and a 200 day moving average of $53.35.

GSK Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Investors of record on Friday, May 15th were paid a dividend of $0.44 per share. The ex-dividend date was Friday, May 15th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.4%. GSK’s payout ratio is 46.49%.

Hedge Funds Weigh In On GSK

Several large investors have recently added to or reduced their stakes in the company. First Horizon Corp increased its stake in shares of GSK by 78.7% in the fourth quarter. First Horizon Corp now owns 536 shares of the pharmaceutical company’s stock worth $26,000 after purchasing an additional 236 shares in the last quarter. Elyxium Wealth LLC purchased a new stake in GSK in the 4th quarter worth $30,000. Triumph Capital Management bought a new stake in GSK during the third quarter valued at about $40,000. Coston McIsaac & Partners raised its holdings in GSK by 17.3% during the fourth quarter. Coston McIsaac & Partners now owns 1,395 shares of the pharmaceutical company’s stock valued at $68,000 after acquiring an additional 206 shares during the period. Finally, Bogart Wealth LLC boosted its stake in shares of GSK by 15.3% in the first quarter. Bogart Wealth LLC now owns 1,508 shares of the pharmaceutical company’s stock worth $83,000 after acquiring an additional 200 shares during the period. Hedge funds and other institutional investors own 15.74% of the company’s stock.

GSK Company Profile

GSK (GlaxoSmithKline plc) is a London-headquartered, multinational pharmaceutical and healthcare company formed through the 2000 merger of Glaxo Wellcome and SmithKline Beecham. The company is dual-listed and operates globally, developing, manufacturing and commercializing prescription medicines, vaccines and specialty treatments. Over its history GSK has evolved through portfolio reshaping and strategic transactions to focus on science-led pharmaceuticals and vaccines.

GSK’s core activities include research and development of therapies and vaccines across a range of therapeutic areas, commercial manufacturing, and global marketing.