Brokerages Set GSK plc (NYSE:GSK) Target Price at $50.00

GSK plc (NYSE:GSK) has received an average rating of “Moderate Buy” from the nine brokerages that are covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold rating, two have assigned a buy rating and three have assigned a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $50.00.

GSK has been the subject of a number of recent research reports. The Goldman Sachs Group assumed coverage on shares of GSK in a research note on Thursday, May 30th. They set a “neutral” rating and a $47.00 price target for the company. Citigroup raised GSK to a “strong-buy” rating in a report on Monday, June 24th. Jefferies Financial Group boosted their price target on GSK from $52.50 to $53.00 and gave the company a “buy” rating in a research report on Tuesday, July 2nd. UBS Group cut GSK from a “buy” rating to a “neutral” rating in a research report on Monday, July 8th. Finally, Barclays raised GSK to a “hold” rating in a report on Tuesday, August 27th.

Institutional Investors Weigh In On GSK

Hedge funds have recently modified their holdings of the stock. Register Financial Advisors LLC purchased a new position in GSK in the first quarter valued at approximately $31,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of GSK in the 2nd quarter valued at $37,000. Richardson Financial Services Inc. acquired a new position in shares of GSK during the 4th quarter valued at $40,000. PrairieView Partners LLC purchased a new stake in GSK during the 2nd quarter worth $47,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in GSK in the 1st quarter valued at $49,000. 15.74% of the stock is owned by institutional investors and hedge funds.

GSK Stock Performance

NYSE GSK opened at $43.67 on Wednesday. The company has a fifty day moving average of $40.54 and a two-hundred day moving average of $41.64. The company has a market capitalization of $90.51 billion, a PE ratio of 15.82, a P/E/G ratio of 1.42 and a beta of 0.66. GSK has a 1 year low of $33.67 and a 1 year high of $45.92. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.82 and a quick ratio of 0.54.

GSK Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Friday, August 16th will be given a $0.3843 dividend. The ex-dividend date is Friday, August 16th. This represents a $1.54 dividend on an annualized basis and a dividend yield of 3.52%. This is an increase from GSK’s previous quarterly dividend of $0.38. GSK’s payout ratio is currently 54.71%.

GSK Company Profile

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.