GlaxoSmithKline plc (NYSE:GSK) announced a quarterly dividend on Thursday, November 1st, NASDAQ reports. Investors of record on Friday, November 16th will be given a dividend of 0.486 per share by the pharmaceutical company on Thursday, January 10th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 4.71%. The ex-dividend date is Thursday, November 15th. This is a boost from GlaxoSmithKline’s previous quarterly dividend of $0.46.
GlaxoSmithKline has decreased its dividend payment by an average of 8.9% annually over the last three years. GlaxoSmithKline has a payout ratio of 66.0% meaning its dividend is sufficiently covered by earnings. Analysts expect GlaxoSmithKline to earn $3.05 per share next year, which means the company should continue to be able to cover its $1.94 annual dividend with an expected future payout ratio of 63.6%.
GSK stock opened at $41.30 on Friday. The company has a debt-to-equity ratio of 6.66, a quick ratio of 0.63 and a current ratio of 0.95. GlaxoSmithKline has a fifty-two week low of $34.52 and a fifty-two week high of $42.36. The company has a market cap of $101.21 billion, a P/E ratio of 14.34, a PEG ratio of 2.74 and a beta of 0.80.
A number of analysts recently weighed in on GSK shares. Zacks Investment Research upgraded shares of GlaxoSmithKline from a “sell” rating to a “hold” rating in a research note on Tuesday, July 17th. Shore Capital upgraded shares of GlaxoSmithKline from a “hold” rating to a “buy” rating in a research note on Friday, July 27th. Goldman Sachs Group reiterated a “buy” rating on shares of GlaxoSmithKline in a research note on Wednesday, October 10th. Argus increased their price target on shares of GlaxoSmithKline from $45.00 to $47.00 and gave the company a “buy” rating in a research note on Monday, August 20th. Finally, Guggenheim began coverage on shares of GlaxoSmithKline in a research note on Monday, October 8th. They issued a “neutral” rating on the stock. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. GlaxoSmithKline presently has a consensus rating of “Hold” and an average price target of $41.57.
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GlaxoSmithKline Company Profile
GlaxoSmithKline plc engages in the creation, discovery, development, manufacture, and marketing of vaccines, over-the-counter medicines, and health-related consumer products worldwide. It operates through four segments: Pharmaceuticals, Pharmaceuticals R&D, Vaccines, and Consumer Healthcare. The company offers pharmaceutical products comprising medicines in the therapeutic areas, such as respiratory, anti-virals, central nervous system, cardiovascular and urogenital, metabolic, anti-bacterials, dermatology, rare diseases, immuno-inflammation, and HIV, as well as vaccines.
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