GSK (NYSE:GSK) Downgraded to “Buy” Rating by StockNews.com

StockNews.com lowered shares of GSK (NYSE:GSK) from a strong-buy rating to a buy rating in a report released on Tuesday morning.

A number of other analysts have also weighed in on the company. Guggenheim lowered GSK from a “buy” rating to a “neutral” rating in a research note on Thursday, October 31st. Jefferies Financial Group downgraded shares of GSK from a “buy” rating to a “hold” rating and dropped their target price for the stock from $53.00 to $39.50 in a research note on Tuesday, November 12th. Finally, Deutsche Bank Aktiengesellschaft cut shares of GSK from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Seven equities research analysts have rated the stock with a hold rating, one has given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $43.25.

GSK Stock Up 1.0 %

Shares of NYSE:GSK opened at $33.76 on Tuesday. The company has a market capitalization of $69.98 billion, a PE ratio of 21.92, a P/E/G ratio of 1.45 and a beta of 0.63. 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 company’s fifty day moving average is $33.96 and its 200-day moving average is $37.94. GSK has a 52 week low of $31.72 and a 52 week high of $45.92.

GSK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Friday, November 15th were paid a $0.3928 dividend. This represents a $1.57 annualized dividend and a yield of 4.65%. The ex-dividend date was Friday, November 15th. This is an increase from GSK’s previous quarterly dividend of $0.38. GSK’s dividend payout ratio is presently 95.45%.

Hedge Funds Weigh In On GSK

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Eastern Bank acquired a new stake in GSK during the 3rd quarter worth $26,000. Sunbelt Securities Inc. lifted 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 valued at $29,000 after purchasing an additional 302 shares in the last quarter. Concord Wealth Partners grew its position in shares of 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 purchasing an additional 547 shares during the period. ST Germain D J Co. Inc. increased its stake in GSK by 195.5% during the 4th quarter. ST Germain D J Co. Inc. now owns 789 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 522 shares in the last quarter. Finally, Fortitude Family Office LLC acquired a new stake in GSK during the 3rd quarter worth approximately $42,000. 15.74% of the stock is owned by institutional investors.

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.