GSK plc (NYSE:GSK) Given Consensus Rating of “Moderate Buy” by Brokerages

GSK plc (NYSE:GSK) has been assigned a consensus rating of “Moderate Buy” from the ten brokerages that are currently covering the firm, MarketBeat.com reports. Seven analysts have rated the stock with a hold rating and three have given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $43.25.

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

Institutional Trading of GSK

Several hedge funds have recently made changes to their positions in GSK. Eastern Bank acquired a new stake in GSK in the 3rd quarter valued at approximately $26,000. Sunbelt Securities Inc. boosted its position in shares of GSK by 73.8% during the third quarter. Sunbelt Securities Inc. now owns 711 shares of the pharmaceutical company’s stock worth $29,000 after buying an additional 302 shares during the period. Concord Wealth Partners increased its stake in 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 during the period. Ashton Thomas Private Wealth LLC purchased a new stake in GSK during the 2nd quarter worth approximately $37,000. Finally, Fortitude Family Office LLC acquired a new stake in shares of GSK in the third quarter valued at $42,000. Hedge funds and other institutional investors own 15.74% of the company’s stock.

GSK Stock Up 1.4 %

Shares of GSK stock opened at $33.93 on Tuesday. GSK has a 52-week low of $32.83 and a 52-week high of $45.92. The firm’s 50 day moving average price is $34.67 and its 200-day moving average price is $38.35. The company has a quick ratio of 0.53, a current ratio of 0.81 and a debt-to-equity ratio of 0.98. The company has a market cap of $70.32 billion, a P/E ratio of 22.03, a PEG ratio of 1.52 and a beta of 0.63.

GSK Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Friday, November 15th will be paid a $0.3928 dividend. The ex-dividend date is Friday, November 15th. This is a positive change from GSK’s previous quarterly dividend of $0.38. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.63%. GSK’s payout ratio is currently 98.70%.

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.