Gilead Sciences, Inc. (NASDAQ:GILD) Holdings Lifted by Focus Partners Wealth

Focus Partners Wealth increased its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 14.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 117,736 shares of the biopharmaceutical company’s stock after purchasing an additional 15,048 shares during the quarter. Focus Partners Wealth’s holdings in Gilead Sciences were worth $10,875,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. FMR LLC grew its holdings in shares of Gilead Sciences by 21.6% during the fourth quarter. FMR LLC now owns 40,319,432 shares of the biopharmaceutical company’s stock valued at $3,724,306,000 after buying an additional 7,157,113 shares in the last quarter. Wellington Management Group LLP grew its stake in Gilead Sciences by 3.1% in the fourth quarter. Wellington Management Group LLP now owns 35,659,007 shares of the biopharmaceutical company’s stock valued at $3,293,822,000 after purchasing an additional 1,058,331 shares in the last quarter. Geode Capital Management LLC grew its stake in Gilead Sciences by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 28,289,917 shares of the biopharmaceutical company’s stock valued at $2,608,337,000 after purchasing an additional 749,047 shares in the last quarter. Norges Bank purchased a new position in Gilead Sciences in the fourth quarter valued at about $1,789,254,000. Finally, Northern Trust Corp grew its stake in Gilead Sciences by 19.7% in the fourth quarter. Northern Trust Corp now owns 14,915,095 shares of the biopharmaceutical company’s stock valued at $1,377,707,000 after purchasing an additional 2,458,954 shares in the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Gilead Sciences Price Performance

Shares of NASDAQ:GILD opened at $103.82 on Tuesday. The business has a 50 day moving average price of $107.00 and a 200 day moving average price of $99.49. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $119.96. The company has a market cap of $129.27 billion, a price-to-earnings ratio of 280.59, a PEG ratio of 0.71 and a beta of 0.26. The company has a quick ratio of 1.20, a current ratio of 1.50 and a debt-to-equity ratio of 1.24.

Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.04. Gilead Sciences had a return on equity of 31.63% and a net margin of 1.67%. The firm had revenue of $6.67 billion during the quarter, compared to the consensus estimate of $6.77 billion. During the same quarter in the prior year, the company earned ($1.32) EPS. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. Research analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a $0.79 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 3.04%. Gilead Sciences’s dividend payout ratio is currently 66.53%.

Insiders Place Their Bets

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $104.09, for a total value of $260,225.00. Following the completion of the sale, the chief financial officer now owns 169,061 shares in the company, valued at approximately $17,597,559.49. This trade represents a 1.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders sold 160,605 shares of company stock worth $16,718,136. 0.27% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have commented on the company. DZ Bank upgraded Gilead Sciences from a “hold” rating to a “buy” rating and set a $108.00 target price on the stock in a research note on Thursday, February 13th. Morgan Stanley boosted their target price on Gilead Sciences from $130.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. The Goldman Sachs Group boosted their target price on Gilead Sciences from $85.00 to $96.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. JPMorgan Chase & Co. boosted their target price on Gilead Sciences from $120.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, March 27th. Finally, Piper Sandler boosted their target price on Gilead Sciences from $105.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Nine equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $110.55.

Gilead Sciences Company Profile

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.