GSK (NYSE:GSK) Sees Strong Trading Volume - Still a Buy?

GSK plc (NYSE:GSK - Get Free Report) shares saw an uptick in trading volume on Friday . 3,507,937 shares changed hands during trading, a decline of 13% from the previous session's volume of 4,039,613 shares.The stock last traded at $32.99 and had previously closed at $34.00.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Guggenheim cut shares of GSK from a "buy" rating to a "neutral" rating in a report on Thursday, October 31st. Jefferies Financial Group downgraded shares of GSK from a "buy" rating to a "hold" rating and decreased their price objective for the company from $53.00 to $39.50 in a research note on Tuesday. Barclays raised GSK to a "hold" rating in a report on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft downgraded GSK from a "buy" rating to a "hold" rating in a research note on Friday. Finally, Argus upgraded GSK to a "strong-buy" rating in a research note on Wednesday, August 7th. Seven research analysts have rated the stock with a hold rating and three have assigned a strong buy rating to the stock. According to MarketBeat, GSK currently has an average rating of "Moderate Buy" and an average target price of $43.25.

GSK Stock Down 1.9 %

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 firm has a 50 day simple moving average of $39.29 and a two-hundred day simple moving average of $40.75. The company has a market capitalization of $69.11 billion, a PE ratio of 21.37, a P/E/G ratio of 1.35 and a beta of 0.66.

GSK Increases Dividend

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

Insider Transactions at GSK

In other GSK news, major shareholder Plc Gsk purchased 2,791,930 shares of the firm's stock in a transaction that occurred on Friday, September 27th. The shares were purchased at an average cost of $8.00 per share, for a total transaction of $22,335,440.00. Following the completion of the purchase, the insider now directly owns 16,775,691 shares in the company, valued at $134,205,528. This represents a 19.97 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 10.00% of the company's stock.

Institutional Investors Weigh In On GSK

Institutional investors have recently made changes to their positions in the stock. Eastern Bank acquired a new position in GSK during the third quarter worth about $26,000. Concord Wealth Partners increased its stake in GSK by 231.8% in the 3rd quarter. Concord Wealth Partners now owns 783 shares of the pharmaceutical company's stock valued at $32,000 after purchasing an additional 547 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in GSK during the second quarter worth $37,000. Fortitude Family Office LLC purchased a new stake in GSK during the third quarter worth $42,000. Finally, PrairieView Partners LLC purchased a new position in shares of GSK in the second quarter valued at $47,000. 15.74% of the stock is currently owned by hedge funds and other institutional investors.

About GSK

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.