GSK (NYSE:GSK) Raised to Strong-Buy at Argus

Argus upgraded shares of GSK (NYSE:GSK) to a strong-buy rating in a research report sent to investors on Wednesday morning, Zacks.com reports.

Several other equities analysts have also commented on the stock. Citigroup upgraded shares of GSK to a strong-buy rating in a research note on Monday, June 24th. The Goldman Sachs Group initiated coverage on shares of GSK in a research note on Thursday, May 30th. They issued a neutral rating and a $47.00 price target on the stock. Jefferies Financial Group increased their price target on shares of GSK from $52.50 to $53.00 and gave the company a buy rating in a research note on Tuesday, July 2nd. UBS Group lowered shares of GSK from a buy rating to a neutral rating in a research note on Monday, July 8th. Finally, Berenberg Bank upgraded shares of GSK to a strong-buy rating in a research note on Thursday, June 20th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Buy and an average target price of $50.00.

GSK Stock Up 0.6 %

Shares of GSK stock traded up $0.24 during trading hours on Wednesday, reaching $40.27. 5,831,826 shares of the stock were exchanged, compared to its average volume of 3,607,394. The firm has a market capitalization of $83.45 billion, a P/E ratio of 14.50, a P/E/G ratio of 1.32 and a beta of 0.64. GSK has a 12-month low of $33.67 and a 12-month 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 0.58. The business’s fifty day moving average is $39.85 and its two-hundred day moving average is $41.38.

GSK Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Friday, August 16th will be issued a $0.3843 dividend. This is an increase from GSK’s previous quarterly dividend of $0.38. This represents a $1.54 annualized dividend and a dividend yield of 3.82%. The ex-dividend date is Friday, August 16th. GSK’s dividend payout ratio is presently 54.71%.

Institutional Investors Weigh In On GSK

Several large investors have recently modified their holdings of the company. Renaissance Technologies LLC lifted its holdings in shares of GSK by 30.9% during the second quarter. Renaissance Technologies LLC now owns 2,347,993 shares of the pharmaceutical company’s stock worth $90,398,000 after purchasing an additional 554,600 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of GSK by 33.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,256,320 shares of the pharmaceutical company’s stock worth $86,875,000 after purchasing an additional 569,614 shares during the period. Redwood Wealth Management Group LLC acquired a new stake in shares of GSK during the second quarter worth $71,000. Oppenheimer Asset Management Inc. lifted its holdings in shares of GSK by 11.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 105,927 shares of the pharmaceutical company’s stock worth $4,078,000 after purchasing an additional 10,942 shares during the period. Finally, Thoroughbred Financial Services LLC lifted its holdings in shares of GSK by 6.6% during the second quarter. Thoroughbred Financial Services LLC now owns 6,908 shares of the pharmaceutical company’s stock worth $265,000 after purchasing an additional 428 shares during the period. 15.74% of the stock is owned by institutional investors and hedge funds.

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.