Gilead Sciences (NASDAQ:GILD) Shares Up 2.5%

Gilead Sciences, Inc. (NASDAQ:GILD) rose 2.5% on Wednesday . The company traded as high as $78.94 and last traded at $78.93. Approximately 950,846 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 7,158,963 shares. The stock had previously closed at $77.00.

Analysts Set New Price Targets

A number of equities analysts have commented on GILD shares. Truist Financial lifted their price target on Gilead Sciences from $82.00 to $83.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Robert W. Baird restated a “neutral” rating and issued a $80.00 price objective on shares of Gilead Sciences in a research report on Thursday, June 20th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $70.00 price objective on shares of Gilead Sciences in a research report on Friday, August 9th. Raymond James upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 target price for the company in a report on Monday, July 8th. Finally, Evercore ISI upgraded shares of Gilead Sciences to a “strong-buy” rating in a report on Friday, August 9th. Twelve research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $81.94.

Gilead Sciences Price Performance

The company has a market cap of $98.11 billion, a PE ratio of 219.25, a P/E/G ratio of 3.37 and a beta of 0.18. The firm has a 50 day moving average of $72.13 and a two-hundred day moving average of $70.17. The company has a current ratio of 1.08, a quick ratio of 0.94 and a debt-to-equity ratio of 1.31.

Gilead Sciences Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 3.91%. The ex-dividend date of this dividend is Friday, September 13th. Gilead Sciences’s dividend payout ratio (DPR) is 855.56%.

Insider Activity at Gilead Sciences

In related news, insider Johanna Mercier sold 5,490 shares of Gilead Sciences stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total value of $406,150.20. Following the completion of the sale, the insider now directly owns 114,979 shares in the company, valued at approximately $8,506,146.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Johanna Mercier sold 5,490 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total transaction of $406,150.20. Following the transaction, the insider now directly owns 114,979 shares of the company’s stock, valued at approximately $8,506,146.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction on Monday, July 1st. The stock was sold at an average price of $68.63, for a total value of $137,260.00. Following the completion of the sale, the insider now directly owns 96,380 shares of the company’s stock, valued at approximately $6,614,559.40. The disclosure for this sale can be found here. 0.16% of the stock is owned by insiders.

Institutional Investors Weigh In On Gilead Sciences

Hedge funds and other institutional investors have recently made changes to their positions in the business. Institute for Wealth Management LLC. increased its holdings in Gilead Sciences by 1.9% during the second quarter. Institute for Wealth Management LLC. now owns 7,551 shares of the biopharmaceutical company’s stock valued at $518,000 after buying an additional 142 shares during the last quarter. First Affirmative Financial Network increased its stake in shares of Gilead Sciences by 3.5% in the 1st quarter. First Affirmative Financial Network now owns 4,342 shares of the biopharmaceutical company’s stock worth $318,000 after purchasing an additional 147 shares in the last quarter. Insigneo Advisory Services LLC raised its holdings in Gilead Sciences by 1.7% in the 2nd quarter. Insigneo Advisory Services LLC now owns 8,830 shares of the biopharmaceutical company’s stock worth $661,000 after purchasing an additional 148 shares during the period. Rathbones Group PLC lifted its position in Gilead Sciences by 3.7% during the fourth quarter. Rathbones Group PLC now owns 4,185 shares of the biopharmaceutical company’s stock valued at $339,000 after purchasing an additional 150 shares in the last quarter. Finally, MCF Advisors LLC grew its holdings in Gilead Sciences by 2.1% during the first quarter. MCF Advisors LLC now owns 7,348 shares of the biopharmaceutical company’s stock valued at $538,000 after purchasing an additional 152 shares during the period. Hedge funds and other institutional investors own 83.67% of the company’s stock.

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.