GSK (NYSE:GSK) Cut to “Buy” at StockNews.com

StockNews.com cut shares of GSK (NYSE:GSKGet Rating) from a strong-buy rating to a buy rating in a report issued on Thursday morning.

A number of other brokerages have also commented on GSK. UBS Group cut their price target on GSK from GBX 1,876 ($22.67) to GBX 1,850 ($22.35) in a report on Wednesday, July 20th. Morgan Stanley cut their target price on GSK from GBX 1,860 ($22.47) to GBX 1,550 ($18.73) in a research note on Wednesday. Deutsche Bank Aktiengesellschaft cut their target price on GSK from GBX 1,750 ($21.15) to GBX 1,500 ($18.12) in a research note on Wednesday. TheStreet lowered GSK from a b rating to a c+ rating in a research note on Monday, August 29th. Finally, Credit Suisse Group upped their target price on GSK from GBX 1,400 ($16.92) to GBX 1,600 ($19.33) in a research note on Friday, July 15th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, GSK has an average rating of Hold and a consensus target price of $1,700.00.

GSK Stock Up 1.2 %

Shares of GSK stock opened at $31.89 on Thursday. GSK has a 12 month low of $30.83 and a 12 month high of $46.97. The firm has a market cap of $64.85 billion, a PE ratio of 10.56, a price-to-earnings-growth ratio of 1.15 and a beta of 0.61. The stock has a 50 day moving average of $38.12 and a 200-day moving average of $41.63. The company has a quick ratio of 1.31, a current ratio of 1.43 and a debt-to-equity ratio of 0.83.

GSK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 6th. Stockholders of record on Friday, August 19th will be issued a dividend of $0.383 per share. This represents a $1.53 annualized dividend and a dividend yield of 4.80%. The ex-dividend date is Thursday, August 18th. This is a boost from GSK’s previous quarterly dividend of $0.35. GSK’s dividend payout ratio is presently 50.66%.

Institutional Trading of GSK

Several large investors have recently made changes to their positions in the business. KG&L Capital Management LLC grew its holdings in shares of GSK by 0.8% during the first quarter. KG&L Capital Management LLC now owns 29,611 shares of the pharmaceutical company’s stock worth $1,290,000 after purchasing an additional 225 shares during the last quarter. Koss Olinger Consulting LLC grew its holdings in shares of GSK by 3.4% during the first quarter. Koss Olinger Consulting LLC now owns 7,299 shares of the pharmaceutical company’s stock worth $318,000 after purchasing an additional 242 shares during the last quarter. Steel Peak Wealth Management LLC grew its holdings in shares of GSK by 4.6% during the first quarter. Steel Peak Wealth Management LLC now owns 5,543 shares of the pharmaceutical company’s stock worth $241,000 after purchasing an additional 246 shares during the last quarter. Tsfg LLC grew its holdings in shares of GSK by 67.9% during the first quarter. Tsfg LLC now owns 618 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 250 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of GSK by 10.8% during the second quarter. EverSource Wealth Advisors LLC now owns 2,593 shares of the pharmaceutical company’s stock worth $113,000 after purchasing an additional 253 shares during the last quarter. Institutional investors own 16.86% of the company’s stock.

About GSK

(Get Rating)

GSK plc, together with its subsidiaries, engages in the creation, discovery, development, manufacture, and marketing of pharmaceutical products, vaccines, over-the-counter medicines, and health-related consumer products in the United Kingdom, the United States, and internationally. It operates through four segments: Pharmaceuticals, Pharmaceuticals R&D, Vaccines, and Consumer Healthcare.

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Analyst Recommendations for GSK (NYSE:GSK)

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