GlaxoSmithKline (GSK) Given New $40.00 Price Target at Argus
GlaxoSmithKline (NYSE:GSK) had its price objective decreased by Argus to $40.00 in a research note issued to investors on Thursday. Argus currently has a buy rating on the pharmaceutical company’s stock.
A number of other equities analysts also recently commented on GSK. BidaskClub raised shares of GlaxoSmithKline from a strong sell rating to a sell rating in a report on Friday, August 25th. Morgan Stanley downgraded shares of GlaxoSmithKline from an equal weight rating to an underweight rating in a report on Friday, September 8th. J P Morgan Chase & Co reissued a neutral rating on shares of GlaxoSmithKline in a report on Thursday, September 14th. Zacks Investment Research raised shares of GlaxoSmithKline from a hold rating to a buy rating and set a $46.00 price target for the company in a report on Wednesday, October 18th. Finally, Bank of America downgraded shares of GlaxoSmithKline from a buy rating to a neutral rating in a report on Thursday, October 26th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $39.71.
GlaxoSmithKline (NYSE GSK) traded up $0.26 during trading hours on Thursday, reaching $35.32. 5,393,594 shares of the company were exchanged, compared to its average volume of 3,484,149. GlaxoSmithKline has a 1-year low of $34.72 and a 1-year high of $44.53. The company has a quick ratio of 0.44, a current ratio of 0.64 and a debt-to-equity ratio of 2.96. The firm has a market cap of $85,000.00, a price-to-earnings ratio of 12.74, a PEG ratio of 1.99 and a beta of 1.00.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 11th. Shareholders of record on Friday, November 10th will be given a $0.5037 dividend. This represents a $2.01 annualized dividend and a yield of 5.70%. The ex-dividend date of this dividend is Thursday, November 9th. This is a boost from GlaxoSmithKline’s previous quarterly dividend of $0.49. GlaxoSmithKline’s dividend payout ratio (DPR) is presently 154.26%.
In related news, major shareholder Plc Glaxosmithkline acquired 428,571 shares of the stock in a transaction on Monday, November 6th. The stock was purchased at an average price of $14.00 per share, for a total transaction of $5,999,994.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 10.00% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of GSK. FinTrust Investment Advisory Services LLC acquired a new stake in shares of GlaxoSmithKline during the 3rd quarter worth approximately $401,000. Bingham Osborn & Scarborough LLC acquired a new stake in shares of GlaxoSmithKline during the 2nd quarter worth approximately $311,000. Freestone Capital Holdings LLC grew its position in shares of GlaxoSmithKline by 11.9% during the 2nd quarter. Freestone Capital Holdings LLC now owns 94,008 shares of the pharmaceutical company’s stock worth $4,054,000 after buying an additional 10,017 shares during the period. Renaissance Technologies LLC grew its position in shares of GlaxoSmithKline by 112.1% during the 2nd quarter. Renaissance Technologies LLC now owns 9,338,000 shares of the pharmaceutical company’s stock worth $402,655,000 after buying an additional 4,935,900 shares during the period. Finally, Fulton Bank N.A. grew its position in shares of GlaxoSmithKline by 4.9% during the 3rd quarter. Fulton Bank N.A. now owns 75,269 shares of the pharmaceutical company’s stock worth $3,056,000 after buying an additional 3,515 shares during the period. Hedge funds and other institutional investors own 9.83% of the company’s stock.
GlaxoSmithKline plc is a global healthcare company. The Company operates through three segments: Pharmaceuticals, Vaccines and Consumer Healthcare. The Company focuses on its research across six areas: Respiratory diseases, human immunodeficiency virus (HIV)/infectious diseases, Vaccines, Immuno-inflammation, Oncology and Rare diseases.
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