GSK (NYSE:GSK) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

GSK PLC Sponsored ADR (NYSE:GSK)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $48.94 and traded as high as $52.69. GSK shares last traded at $51.9540, with a volume of 4,333,574 shares.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Morgan Stanley reiterated an “underweight” rating on shares of GSK in a research note on Wednesday, January 14th. HSBC reaffirmed a “reduce” rating on shares of GSK in a report on Wednesday, December 10th. Barclays reiterated an “underweight” rating on shares of GSK in a research report on Friday, February 20th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of GSK in a report on Friday, January 16th. Finally, TD Cowen restated a “hold” rating on shares of GSK in a research report on Monday, February 9th. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, GSK has a consensus rating of “Reduce” and a consensus price target of $44.13.

GSK Trading Up 0.2%

The business’s 50 day moving average price is $54.74 and its two-hundred day moving average price is $48.94. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.54 and a current ratio of 0.82. The company has a market capitalization of $105.79 billion, a price-to-earnings ratio of 14.04, a price-to-earnings-growth ratio of 3.13 and a beta of 0.44.

GSK Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Friday, February 20th will be given a $0.4856 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 3.7%. This is a positive change from GSK’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, February 20th. GSK’s payout ratio is currently 51.62%.

Hedge Funds Weigh In On GSK

Hedge funds have recently modified their holdings of the company. Fisher Asset Management LLC raised its stake in shares of GSK by 2.8% in the 3rd quarter. Fisher Asset Management LLC now owns 32,227,615 shares of the pharmaceutical company’s stock worth $1,390,944,000 after buying an additional 889,210 shares in the last quarter. Bard Financial Services Inc. boosted its stake in GSK by 17.4% during the third quarter. Bard Financial Services Inc. now owns 158,145 shares of the pharmaceutical company’s stock valued at $6,826,000 after buying an additional 23,400 shares in the last quarter. Brighton Jones LLC bought a new position in GSK during the fourth quarter valued at about $528,000. Quantbot Technologies LP grew its holdings in GSK by 184.6% during the second quarter. Quantbot Technologies LP now owns 138,898 shares of the pharmaceutical company’s stock worth $5,334,000 after acquiring an additional 90,097 shares during the period. Finally, Great Lakes Advisors LLC grew its holdings in GSK by 54.0% during the third quarter. Great Lakes Advisors LLC now owns 49,279 shares of the pharmaceutical company’s stock worth $2,127,000 after acquiring an additional 17,273 shares during the period. 15.74% of the stock is currently owned by institutional investors and hedge funds.

About GSK

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.