GSK (NYSE:GSK) Cut to Hold at Deutsche Bank Aktiengesellschaft

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

A number of other research firms also recently weighed in on GSK. Jefferies Financial Group downgraded GSK from a “buy” rating to a “hold” rating and cut their target price for the stock from $53.00 to $39.50 in a research report on Tuesday. Guggenheim lowered GSK from a “buy” rating to a “neutral” rating in a report on Thursday, October 31st. Barclays raised GSK to a “hold” rating in a report on Tuesday, August 27th. Finally, Argus upgraded GSK to a “strong-buy” rating in a report on Wednesday, August 7th. Seven analysts have rated the stock with a hold rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.25.

GSK Stock Performance

NYSE:GSK traded down $0.64 during mid-day trading on Friday, hitting $33.35. The stock had a trading volume of 13,747,891 shares, compared to its average volume of 4,087,496. GSK has a 52 week low of $32.83 and a 52 week high of $45.92. The company has a current ratio of 0.81, a quick ratio of 0.53 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $69.12 billion, a price-to-earnings ratio of 21.65, a P/E/G ratio of 1.35 and a beta of 0.66. The company has a 50 day simple moving average of $39.08 and a 200-day simple moving average of $40.69.

GSK Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Friday, November 15th will be given a dividend of $0.3928 per share. This represents a $1.57 annualized dividend and a dividend yield of 4.71%. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from GSK’s previous quarterly dividend of $0.38. GSK’s payout ratio is currently 100.00%.

Insider Activity at GSK

In related news, major shareholder Plc Gsk purchased 2,791,930 shares of GSK stock in a transaction on Friday, September 27th. The stock was purchased at an average cost of $8.00 per share, with a total value of $22,335,440.00. Following the acquisition, the insider now directly owns 16,775,691 shares in the company, valued at approximately $134,205,528. This trade represents a 19.97 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 10.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On GSK

Several hedge funds have recently made changes to their positions in the stock. FMR LLC raised its holdings in GSK by 8.3% in the 3rd quarter. FMR LLC now owns 29,008,928 shares of the pharmaceutical company’s stock valued at $1,185,885,000 after acquiring an additional 2,224,345 shares in the last quarter. Primecap Management Co. CA raised its stake in shares of GSK by 13.9% in the second quarter. Primecap Management Co. CA now owns 14,511,390 shares of the pharmaceutical company’s stock valued at $558,689,000 after purchasing an additional 1,773,020 shares in the last quarter. Acadian Asset Management LLC lifted its position in GSK by 180.0% in the first quarter. Acadian Asset Management LLC now owns 2,219,798 shares of the pharmaceutical company’s stock worth $95,129,000 after purchasing an additional 1,426,935 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in GSK during the second quarter worth $52,487,000. Finally, Kahn Brothers Group Inc. bought a new stake in GSK in the 1st quarter valued at $53,743,000. Institutional investors own 15.74% of the company’s stock.

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.