GSK (NYSE:GSK) Share Price Passes Above Two Hundred Day Moving Average – What’s Next?

GSK PLC Sponsored ADR (NYSE:GSK) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $46.15 and traded as high as $61.70. GSK shares last traded at $61.2080, with a volume of 5,389,786 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on GSK shares. HSBC restated a “reduce” rating on shares of GSK in a report on Wednesday, December 10th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of GSK in a research note on Friday, January 16th. Bank of America raised shares of GSK from an “underperform” rating to a “neutral” rating in a research report on Tuesday, November 25th. Citigroup reissued a “neutral” rating on shares of GSK in a research report on Monday, February 9th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of GSK in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, GSK currently has an average rating of “Reduce” and a consensus target price of $44.13.

GSK Trading Up 0.6%

The business’s 50-day simple moving average is $51.68 and its two-hundred day simple moving average is $46.15. The company has a current ratio of 0.82, a quick ratio of 0.54 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $124.77 billion, a PE ratio of 16.54, a PEG ratio of 3.69 and a beta of 0.46.

GSK Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Friday, February 20th will be issued a dividend of $0.4856 per share. The ex-dividend date is Friday, February 20th. This represents a $1.94 annualized dividend and a yield of 3.2%. This is a boost from GSK’s previous quarterly dividend of $0.42. GSK’s dividend payout ratio (DPR) is presently 45.95%.

Insider Activity at GSK

In related news, major shareholder Plc Gsk purchased 1,470,000 shares of the firm’s stock in a transaction dated Thursday, December 11th. The stock was acquired at an average price of $19.00 per share, with a total value of $27,930,000.00. Following the completion of the transaction, the insider owned 18,245,691 shares of the company’s stock, valued at $346,668,129. This represents a 8.76% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 10.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of GSK in the 2nd quarter valued at about $25,000. First Horizon Corp increased its holdings in GSK by 78.7% in the fourth quarter. First Horizon Corp now owns 536 shares of the pharmaceutical company’s stock valued at $26,000 after buying an additional 236 shares during the last quarter. Elyxium Wealth LLC acquired a new stake in GSK during the fourth quarter valued at approximately $30,000. CNB Bank bought a new position in GSK during the 3rd quarter worth approximately $31,000. Finally, CoreFirst Bank & Trust bought a new position in GSK during the 2nd quarter worth approximately $33,000. 15.74% of the stock is owned by institutional investors and hedge funds.

GSK Company Profile

GSK (GlaxoSmithKline plc) is a London-headquartered, multinational pharmaceutical and healthcare company formed through the 2000 merger of Glaxo Wellcome and SmithKline Beecham. The company is dual-listed and operates globally, developing, manufacturing and commercializing prescription medicines, vaccines and specialty treatments. Over its history GSK has evolved through portfolio reshaping and strategic transactions to focus on science-led pharmaceuticals and vaccines.

GSK’s core activities include research and development of therapies and vaccines across a range of therapeutic areas, commercial manufacturing, and global marketing.