GSK (NYSE:GSK) Sees Large Volume Increase – Time to Buy?

GSK plc (NYSE:GSK) saw strong trading volume on Thursday . 10,844,634 shares traded hands during mid-day trading, an increase of 174% from the previous session’s volume of 3,954,231 shares.The stock last traded at $36.33 and had previously closed at $35.90.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Barclays upgraded GSK to a “hold” rating in a report on Tuesday, August 27th. Guggenheim cut GSK from a “buy” rating to a “neutral” rating in a report on Thursday, October 31st. Finally, Argus upgraded GSK to a “strong-buy” rating in a report on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating, one has assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $50.00.

GSK Stock Performance

The stock has a 50-day simple moving average of $39.95 and a 200-day simple moving average of $40.91. The company has a market capitalization of $75.21 billion, a price-to-earnings ratio of 23.57, a price-to-earnings-growth ratio of 1.38 and a beta of 0.66. The company has a current ratio of 0.81, a quick ratio of 0.53 and a debt-to-equity ratio of 0.98.

GSK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Friday, November 15th will be given a $0.3928 dividend. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.33%. This is a positive change from GSK’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, November 15th. GSK’s dividend payout ratio is presently 100.00%.

Insider Buying and Selling at GSK

In other news, major shareholder Plc Gsk purchased 2,791,930 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The shares were acquired at an average cost of $8.00 per share, with a total value of $22,335,440.00. Following the transaction, the insider now owns 16,775,691 shares in the company, valued at approximately $134,205,528. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 10.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On GSK

Institutional investors and hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp raised its position in shares of GSK by 8.4% during the 3rd quarter. Van ECK Associates Corp now owns 736,510 shares of the pharmaceutical company’s stock valued at $27,973,000 after acquiring an additional 56,843 shares in the last quarter. Cohen Investment Advisors LLC bought a new position in GSK during the 2nd quarter worth $349,000. Blair William & Co. IL grew its stake in GSK by 14.9% during the 1st quarter. Blair William & Co. IL now owns 23,493 shares of the pharmaceutical company’s stock worth $1,007,000 after buying an additional 3,044 shares during the last quarter. SG Americas Securities LLC grew its stake in GSK by 448.7% during the 1st quarter. SG Americas Securities LLC now owns 17,690 shares of the pharmaceutical company’s stock worth $758,000 after buying an additional 14,466 shares during the last quarter. Finally, US Bancorp DE grew its stake in GSK by 12.2% during the 3rd quarter. US Bancorp DE now owns 236,770 shares of the pharmaceutical company’s stock worth $9,679,000 after buying an additional 25,781 shares during the last quarter. 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.