GSK (NYSE:GSK) Sees Strong Trading Volume Following Analyst Upgrade

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Shares of GSK plc (NYSE:GSKGet Rating) saw an uptick in trading volume on Friday after Credit Suisse Group raised their price target on the stock from GBX 1,400 to GBX 1,600. 384,480 shares were traded during mid-day trading, a decline of 91% from the previous session’s volume of 4,330,625 shares.The stock last traded at $40.82 and had previously closed at $40.22.

A number of other equities analysts also recently issued reports on the company. StockNews.com raised GSK from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 6th. Barclays upped their price target on GSK from GBX 1,775 ($21.11) to GBX 1,800 ($21.41) in a research report on Friday, April 29th. Finally, JPMorgan Chase & Co. upped their price target on GSK from GBX 1,740 ($20.69) to GBX 1,900 ($22.60) in a research report on Thursday, April 28th. Six research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, GSK currently has an average rating of “Hold” and an average target price of $1,766.67.

Institutional Investors Weigh In On GSK

A number of large investors have recently made changes to their positions in GSK. Tyler Stone Wealth Management purchased a new stake in shares of GSK during the fourth quarter valued at $26,000. Clearview Wealth Advisors LLC purchased a new stake in shares of GSK during the fourth quarter valued at $27,000. Allegheny Financial Group LTD purchased a new stake in shares of GSK during the fourth quarter valued at $27,000. Tsfg LLC grew its holdings in shares of GSK by 67.9% during the first quarter. Tsfg LLC now owns 618 shares of the pharmaceutical company’s stock valued at $27,000 after buying an additional 250 shares during the last quarter. Finally, Glassman Wealth Services grew its holdings in shares of GSK by 71.3% during the fourth quarter. Glassman Wealth Services now owns 627 shares of the pharmaceutical company’s stock valued at $28,000 after buying an additional 261 shares during the last quarter. 32.76% of the stock is owned by hedge funds and other institutional investors.

GSK Stock Up 2.6 %

The stock has a market capitalization of $104.85 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 1.79 and a beta of 0.61. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.19 and a quick ratio of 0.95. The business’s fifty day moving average price is $43.08 and its two-hundred day moving average price is $43.70.

GSK (NYSE:GSKGet Rating) last announced its quarterly earnings data on Wednesday, April 27th. The pharmaceutical company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.11. GSK had a net margin of 14.03% and a return on equity of 28.13%. The firm had revenue of $13.12 billion for the quarter, compared to analyst estimates of $11.97 billion. On average, equities research analysts forecast that GSK plc will post 3.17 EPS for the current fiscal year.

GSK Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 1st. Shareholders of record on Friday, May 20th were issued a $0.3496 dividend. This represents a $1.40 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend was Thursday, May 19th. GSK’s payout ratio is 48.38%.

GSK Company Profile

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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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