GSK (NYSE:GSK) Cut to Hold at Jefferies Financial Group

Jefferies Financial Group lowered shares of GSK (NYSE:GSK) from a buy rating to a hold rating in a report published on Tuesday, MarketBeat Ratings reports. Jefferies Financial Group currently has $39.50 target price on the pharmaceutical company’s stock, down from their prior target price of $53.00.

Several other brokerages also recently issued reports on GSK. Argus raised shares of GSK to a “strong-buy” rating in a research report on Wednesday, August 7th. Guggenheim downgraded shares of GSK from a “buy” rating to a “neutral” rating in a research report on Thursday, October 31st. Finally, Barclays raised shares of GSK to a “hold” rating in a report on Tuesday, August 27th. Six 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, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $43.25.

GSK Trading Down 2.1 %

Shares of GSK stock opened at $34.38 on Tuesday. GSK has a 1 year low of $34.29 and a 1 year high of $45.92. 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 has a market capitalization of $71.24 billion, a P/E ratio of 22.32, a PEG ratio of 1.35 and a beta of 0.66. The company’s fifty day moving average is $39.46 and its two-hundred day moving average is $40.80.

GSK Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders 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. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.57 annualized dividend and a dividend yield of 4.57%. GSK’s payout ratio is presently 100.00%.

Insider Activity at GSK

In related news, major shareholder Plc Gsk acquired 2,791,930 shares of GSK stock in a transaction that occurred on Friday, September 27th. The stock was purchased at an average price of $8.00 per share, for a total transaction of $22,335,440.00. Following the completion of the purchase, the insider now directly owns 16,775,691 shares of the company’s stock, valued at approximately $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 Trading of GSK

Several hedge funds and other institutional investors have recently made changes to their positions in GSK. SG Americas Securities LLC lifted its stake in shares of GSK by 448.7% in the first quarter. SG Americas Securities LLC now owns 17,690 shares of the pharmaceutical company’s stock valued at $758,000 after purchasing an additional 14,466 shares during the period. Thoroughbred Financial Services LLC acquired a new position in GSK during the first quarter worth about $277,000. US Bancorp DE raised its position in GSK by 54.6% during the first quarter. US Bancorp DE now owns 181,647 shares of the pharmaceutical company’s stock worth $7,787,000 after acquiring an additional 64,144 shares during the last quarter. Dearborn Partners LLC raised its position in GSK by 21.5% during the first quarter. Dearborn Partners LLC now owns 12,992 shares of the pharmaceutical company’s stock worth $557,000 after acquiring an additional 2,300 shares during the last quarter. Finally, Ledyard National Bank raised its position in GSK by 97.5% during the first quarter. Ledyard National Bank now owns 13,366 shares of the pharmaceutical company’s stock worth $573,000 after acquiring an additional 6,597 shares during the last quarter. Institutional investors and hedge funds 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.