GSK (NYSE:GSK) Stock Price Down 5.9%

GSK plc (NYSE:GSKGet Rating)’s stock price was down 5.9% during mid-day trading on Friday . The company traded as low as $31.43 and last traded at $31.50. Approximately 103,838 shares changed hands during trading, a decline of 98% from the average daily volume of 6,164,906 shares. The stock had previously closed at $33.47.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on GSK shares. Jefferies Financial Group lowered shares of GSK from a “buy” rating to a “hold” rating in a report on Thursday, September 8th. Oddo Bhf raised shares of GSK from a “neutral” rating to an “outperform” rating in a research note on Thursday, September 29th. upgraded GSK from a “buy” rating to a “strong-buy” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft reduced their target price on GSK from GBX 1,750 ($20.15) to GBX 1,500 ($17.27) in a report on Wednesday, September 7th. Finally, Morgan Stanley lifted their price target on GSK from GBX 1,550 ($17.85) to GBX 1,650 ($19.00) in a research note on Wednesday, October 12th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $1,608.33.

GSK Stock Performance

The stock has a market cap of $64.22 billion, a price-to-earnings ratio of 3.87, a PEG ratio of 1.16 and a beta of 0.67. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.97 and a quick ratio of 0.74. The firm has a fifty day moving average of $31.24 and a 200 day moving average of $37.75.

GSK Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 12th. Shareholders of record on Friday, November 18th will be paid a $0.3695 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date is Thursday, November 17th. GSK’s dividend payout ratio (DPR) is presently 17.77%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. JTC Employer Solutions Trustee Ltd raised its stake in GSK by 50.4% during the first quarter. JTC Employer Solutions Trustee Ltd now owns 9,016,970 shares of the pharmaceutical company’s stock worth $392,735,000 after purchasing an additional 3,023,634 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of GSK by 32.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 9,621,370 shares of the pharmaceutical company’s stock valued at $419,107,000 after buying an additional 2,362,274 shares during the period. Goldman Sachs Group Inc. lifted its holdings in GSK by 48.3% in the first quarter. Goldman Sachs Group Inc. now owns 7,113,039 shares of the pharmaceutical company’s stock valued at $309,844,000 after acquiring an additional 2,316,204 shares during the last quarter. Bain Capital Public Equity Management II LLC purchased a new position in GSK in the second quarter worth approximately $94,194,000. Finally, Acadian Asset Management LLC grew its position in GSK by 90.1% in the first quarter. Acadian Asset Management LLC now owns 3,400,013 shares of the pharmaceutical company’s stock worth $148,070,000 after acquiring an additional 1,611,899 shares during the period. Institutional investors and hedge funds own 16.86% of the company’s stock.

About GSK

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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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