GSK (NYSE:GSK) Shares Gap Down - Time to Sell?

Shares of GSK plc (NYSE:GSK - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $34.13, but opened at $32.59. GSK shares last traded at $32.60, with a volume of 1,738,522 shares trading hands.

Analyst Ratings Changes

Several brokerages have issued reports on GSK. Morgan Stanley began coverage on GSK in a research report on Wednesday, February 12th. They issued an "equal weight" rating for the company. StockNews.com raised shares of GSK from a "buy" rating to a "strong-buy" rating in a report on Friday, February 7th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $43.25.

GSK Stock Performance

The firm has a fifty day moving average of $37.52 and a 200-day moving average of $36.22. The company has a quick ratio of 0.52, a current ratio of 0.78 and a debt-to-equity ratio of 1.12. The firm has a market cap of $72.75 billion, a P/E ratio of 22.18, a PEG ratio of 1.12 and a beta of 0.56.

GSK (NYSE:GSK - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The pharmaceutical company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.44 by $0.15. GSK had a net margin of 8.13% and a return on equity of 48.59%. Research analysts predict that GSK plc will post 4.14 earnings per share for the current fiscal year.

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GSK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Friday, February 21st were given a dividend of $0.3932 per share. This is a boost from GSK's previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Friday, February 21st. This represents a $1.57 annualized dividend and a dividend yield of 4.46%. GSK's payout ratio is presently 100.63%.

Institutional Investors Weigh In On GSK

Institutional investors have recently made changes to their positions in the stock. Grimes & Company Inc. acquired a new position in shares of GSK during the 4th quarter worth about $4,731,000. Strategic Financial Concepts LLC bought a new position in GSK during the 4th quarter worth approximately $4,033,000. Kempner Capital Management Inc. grew its holdings in GSK by 142.7% during the fourth quarter. Kempner Capital Management Inc. now owns 183,080 shares of the pharmaceutical company's stock valued at $6,192,000 after purchasing an additional 107,648 shares during the period. Stockman Wealth Management Inc. increased its stake in GSK by 3.7% in the fourth quarter. Stockman Wealth Management Inc. now owns 217,200 shares of the pharmaceutical company's stock valued at $7,346,000 after purchasing an additional 7,683 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in GSK in the third quarter worth $3,645,000. 15.74% of the stock is owned by institutional investors and hedge funds.

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.