GSK (NYSE:GSK) Downgraded to Hold Rating by Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft downgraded shares of GSK (NYSE:GSK) from a buy rating to a hold rating in a report published on Friday morning, Marketbeat Ratings reports.

Several other analysts have also weighed in on the company. Argus raised GSK to a “strong-buy” rating in a report on Wednesday, August 7th. Jefferies Financial Group cut shares of GSK from a “buy” rating to a “hold” rating and lowered their price objective for the company from $53.00 to $39.50 in a research note on Tuesday. Barclays upgraded shares of GSK to a “hold” rating in a research report on Tuesday, August 27th. Finally, Guggenheim lowered shares of GSK from a “buy” rating to a “neutral” rating in a research report on Thursday, October 31st. Seven investment analysts have rated the stock with a hold rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, GSK currently has an average rating of “Moderate Buy” and an average target price of $43.25.

GSK Stock Down 1.9 %

GSK traded down $0.64 during trading hours on Friday, hitting $33.35. 13,747,891 shares of the company’s stock were exchanged, compared to its average volume of 4,087,496. The company has a current ratio of 0.81, a quick ratio of 0.53 and a debt-to-equity ratio of 0.98. GSK has a 12-month low of $32.83 and a 12-month high of $45.92. The firm has a market cap of $69.12 billion, a P/E ratio of 21.65, a price-to-earnings-growth ratio of 1.35 and a beta of 0.66. The firm has a 50 day moving average of $39.08 and a 200 day moving average of $40.69.

GSK Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Friday, November 15th will be paid a dividend of $0.3928 per share. 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 4.71%. GSK’s dividend payout ratio is presently 100.00%.

Insider Buying and Selling

In related news, major shareholder Plc Gsk acquired 2,791,930 shares of the stock in a transaction dated Friday, September 27th. The stock was bought at an average cost of $8.00 per share, with a total value of $22,335,440.00. Following the purchase, the insider now directly owns 16,775,691 shares of the company’s stock, valued at approximately $134,205,528. This represents a 19.97 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 10.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GSK. Van ECK Associates Corp boosted its position in GSK by 8.4% during the 3rd quarter. Van ECK Associates Corp now owns 736,510 shares of the pharmaceutical company’s stock worth $27,973,000 after purchasing an additional 56,843 shares during the period. Cohen Investment Advisors LLC purchased a new stake in GSK during the 2nd quarter worth $349,000. Stockman Wealth Management Inc. lifted its stake in shares of GSK by 7.7% in the third quarter. Stockman Wealth Management Inc. now owns 209,517 shares of the pharmaceutical company’s stock worth $8,565,000 after acquiring an additional 15,024 shares in the last quarter. Blair William & Co. IL boosted its stake in shares of GSK by 14.9% during the 1st quarter. Blair William & Co. IL now owns 23,493 shares of the pharmaceutical company’s stock valued at $1,007,000 after buying an additional 3,044 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in GSK by 448.7% during the 1st quarter. SG Americas Securities LLC now owns 17,690 shares of the pharmaceutical company’s stock worth $758,000 after acquiring an additional 14,466 shares in 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.