GlaxoSmithKline plc (LON:GSK) was downgraded by investment analysts at Societe Generale to a “sell” rating in a report issued on Thursday. They currently have a GBX 1,320 ($17.58) target price on the stock, up from their previous target price of GBX 1,300 ($17.31). Societe Generale’s target price would indicate a potential downside of 18.74% from the company’s current price.
GSK has been the subject of several other research reports. JPMorgan Chase & Co. reiterated a “neutral” rating and set a GBX 1,900 ($25.31) price objective on shares of GlaxoSmithKline plc in a research note on Tuesday, August 23rd. Deutsche Bank AG reissued a “hold” rating and set a GBX 1,800 ($23.97) target price on shares of GlaxoSmithKline plc in a research report on Friday, September 2nd. Citigroup Inc. reissued a “buy” rating on shares of GlaxoSmithKline plc in a research report on Thursday, June 23rd. Shore Capital reissued a “hold” rating on shares of GlaxoSmithKline plc in a research report on Monday. Finally, Jefferies Group dropped their target price on shares of GlaxoSmithKline plc from GBX 1,550 ($20.64) to GBX 1,500 ($19.98) and set a “hold” rating on the stock in a research report on Wednesday, May 11th. Two investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and seven have issued a buy rating to the company’s stock. GlaxoSmithKline plc presently has a consensus rating of “Hold” and a consensus price target of GBX 1,655.84 ($22.05).
Shares of GlaxoSmithKline plc (LON:GSK) traded down 0.49% during mid-day trading on Thursday, hitting GBX 1624.50. 7,661,410 shares of the stock traded hands. GlaxoSmithKline plc has a 12 month low of GBX 1,227.50 and a 12 month high of GBX 1,716.50. The firm has a 50 day moving average of GBX 1,668.21 and a 200 day moving average of GBX 1,515.75. The stock’s market cap is GBX 9431.25 billion.
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The business also recently announced a dividend, which will be paid on Thursday, October 13th. Shareholders of record on Thursday, August 11th will be paid a dividend of GBX 19 ($0.25) per share. This represents a yield of 1.12%. The ex-dividend date of this dividend is Thursday, August 11th.
In related news, insider Slaoui,Moncef bought 28 shares of the stock in a transaction on Friday, August 12th. The stock was bought at an average price of GBX 2,208 ($29.41) per share, with a total value of £618.24 ($823.44). Also, insider Cartwright,Stacey bought 461 shares of the stock in a transaction on Friday, July 1st. The shares were bought at an average cost of GBX 1,559 ($20.76) per share, with a total value of £7,186.99 ($9,572.44).
About GlaxoSmithKline plc
GlaxoSmithKline plc (GSK) is a healthcare company. The Company is engaged in the creation and discovery, development, manufacture and marketing of pharmaceutical products, including vaccines, over-the-counter (OTC) medicines and health-related consumer products. The Company’s segments include Pharmaceuticals, Pharmaceuticals R&D, Vaccines and Consumer Healthcare.
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