GLOBALT Investments LLC GA Increases Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

GLOBALT Investments LLC GA raised its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 20.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,659 shares of the biopharmaceutical company’s stock after purchasing an additional 8,204 shares during the quarter. GLOBALT Investments LLC GA’s holdings in Gilead Sciences were worth $4,495,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. FMR LLC boosted its stake in shares of Gilead Sciences by 79.4% during the 3rd quarter. FMR LLC now owns 33,162,319 shares of the biopharmaceutical company’s stock worth $2,780,329,000 after acquiring an additional 14,680,161 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Gilead Sciences by 50.9% during the 3rd quarter. Wellington Management Group LLP now owns 34,600,676 shares of the biopharmaceutical company’s stock worth $2,900,921,000 after acquiring an additional 11,665,593 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Gilead Sciences by 723.3% during the 4th quarter. Pacer Advisors Inc. now owns 6,434,665 shares of the biopharmaceutical company’s stock worth $594,370,000 after acquiring an additional 5,653,075 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Gilead Sciences during the 4th quarter worth approximately $207,340,000. Finally, Point72 Asset Management L.P. raised its position in shares of Gilead Sciences by 350.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,305,270 shares of the biopharmaceutical company’s stock worth $193,274,000 after purchasing an additional 1,793,145 shares during the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Gilead Sciences Trading Down 1.7 %

NASDAQ:GILD opened at $111.44 on Monday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.20 and a current ratio of 1.50. Gilead Sciences, Inc. has a one year low of $62.07 and a one year high of $119.96. The business’s 50-day simple moving average is $101.82 and its 200 day simple moving average is $92.92. The stock has a market cap of $138.78 billion, a price-to-earnings ratio of 301.19, a price-to-earnings-growth ratio of 0.71 and a beta of 0.21.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.67 by $0.23. Gilead Sciences had a return on equity of 31.63% and a net margin of 1.67%. As a group, sell-side analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a $0.79 dividend. This is a boost from Gilead Sciences’s previous quarterly dividend of $0.77. The ex-dividend date is Friday, March 14th. This represents a $3.16 annualized dividend and a dividend yield of 2.84%. Gilead Sciences’s payout ratio is 854.05%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. DZ Bank raised Gilead Sciences from a “hold” rating to a “buy” rating and set a $108.00 price target for the company in a research report on Thursday, February 13th. Oppenheimer upped their price objective on shares of Gilead Sciences from $115.00 to $132.00 and gave the company an “outperform” rating in a research note on Tuesday, March 4th. Wells Fargo & Company boosted their target price on shares of Gilead Sciences from $120.00 to $140.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. upped their price objective on Gilead Sciences from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Eleven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, Gilead Sciences presently has an average rating of “Moderate Buy” and an average price target of $104.52.

Insider Activity at Gilead Sciences

In related news, CFO Andrew D. Dickinson sold 2,500 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $91.35, for a total value of $228,375.00. Following the completion of the sale, the chief financial officer now directly owns 129,873 shares of the company’s stock, valued at $11,863,898.55. The trade was a 1.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 302,785 shares of company stock valued at $30,503,250 over the last three months. 0.16% of the stock is owned by insiders.

About Gilead Sciences

Gilead Sciences, Inc, a biopharmaceutical company, discovers, develops, and commercializes medicines in the areas of unmet medical need in the United States, Europe, and internationally. The company provides Biktarvy, Genvoya, Descovy, Odefsey, Truvada, Complera/ Eviplera, Stribild, Sunlencs, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of COVID-19; and Epclusa, Harvoni, Vemlidy, and Viread for the treatment of viral hepatitis.