GSK (NYSE:GSK) Cut to “Hold” at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft lowered shares of GSK (NYSE:GSK) from a buy rating to a hold rating in a research note issued to investors on Friday, MarketBeat reports.

A number of other equities research analysts also recently weighed in on the company. Guggenheim downgraded GSK from a “buy” rating to a “neutral” rating in a research report on Thursday, October 31st. Argus raised GSK to a “strong-buy” rating in a research note on Wednesday, August 7th. Jefferies Financial Group lowered shares of GSK from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $53.00 to $39.50 in a research note on Tuesday, November 12th. Finally, Barclays upgraded shares of GSK to a “hold” rating in a report on Tuesday, August 27th. Seven research 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.com, GSK presently has a consensus rating of “Moderate Buy” and an average price target of $43.25.

GSK Stock Up 1.0 %

NYSE GSK opened at $33.70 on Friday. GSK has a one year low of $32.83 and a one year high of $45.92. The firm has a market cap of $69.84 billion, a PE ratio of 21.88, a price-to-earnings-growth ratio of 1.29 and a beta of 0.66. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.81 and a quick ratio of 0.53. The stock’s 50 day simple moving average is $38.88 and its 200 day simple moving average is $40.61.

GSK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Friday, November 15th will be issued a $0.3928 dividend. This is an increase from GSK’s previous quarterly dividend of $0.38. This represents a $1.57 annualized dividend and a dividend yield of 4.66%. The ex-dividend date of this dividend is Friday, November 15th. GSK’s payout ratio is currently 98.70%.

Insiders Place Their Bets

In related news, major shareholder Plc Gsk purchased 2,791,930 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The stock was acquired at an average price of $8.00 per share, with a total value of $22,335,440.00. Following the completion of the purchase, the insider now directly 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 Securities & Exchange Commission, which is available through the SEC website. Company insiders own 10.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in GSK. 1832 Asset Management L.P. boosted its stake in GSK by 9.1% during the first quarter. 1832 Asset Management L.P. now owns 3,078 shares of the pharmaceutical company’s stock worth $132,000 after acquiring an additional 257 shares in the last quarter. Boltwood Capital Management raised its stake in GSK by 2.5% in the 2nd quarter. Boltwood Capital Management now owns 11,133 shares of the pharmaceutical company’s stock valued at $429,000 after acquiring an additional 270 shares during the period. First Affirmative Financial Network lifted its stake in shares of GSK by 4.7% during the 2nd quarter. First Affirmative Financial Network now owns 6,359 shares of the pharmaceutical company’s stock valued at $245,000 after buying an additional 283 shares in the last quarter. Sunbelt Securities Inc. grew its position in shares of GSK by 73.8% in the third quarter. Sunbelt Securities Inc. now owns 711 shares of the pharmaceutical company’s stock valued at $29,000 after purchasing an additional 302 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of GSK by 9.4% during the second quarter. EverSource Wealth Advisors LLC now owns 3,542 shares of the pharmaceutical company’s stock valued at $137,000 after buying an additional 303 shares during the period. 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.