Pinnacle Financial Partners Inc Takes $265,000 Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Pinnacle Financial Partners Inc purchased a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 2,874 shares of the biopharmaceutical company’s stock, valued at approximately $265,000.

A number of other institutional investors and hedge funds have also modified their holdings of GILD. FMR LLC raised its position 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 valued at $2,780,329,000 after acquiring an additional 14,680,161 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Gilead Sciences by 50.9% during the third quarter. Wellington Management Group LLP now owns 34,600,676 shares of the biopharmaceutical company’s stock worth $2,900,921,000 after purchasing an additional 11,665,593 shares during the period. Pacer Advisors Inc. grew its stake in shares of Gilead Sciences by 723.3% during the fourth quarter. Pacer Advisors Inc. now owns 6,434,665 shares of the biopharmaceutical company’s stock worth $594,370,000 after purchasing an additional 5,653,075 shares during the period. Point72 Asset Management L.P. increased its holdings in Gilead Sciences by 350.1% in the third quarter. Point72 Asset Management L.P. now owns 2,305,270 shares of the biopharmaceutical company’s stock valued at $193,274,000 after purchasing an additional 1,793,145 shares during the last quarter. Finally, Jennison Associates LLC acquired a new position in Gilead Sciences in the fourth quarter valued at about $87,163,000. 83.67% of the stock is owned by institutional investors.

Gilead Sciences Stock Down 0.1 %

NASDAQ:GILD opened at $109.95 on Monday. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $111.03. The firm has a market capitalization of $137.03 billion, a price-to-earnings ratio of 297.16, a price-to-earnings-growth ratio of 0.71 and a beta of 0.18. The company has a quick ratio of 1.20, a current ratio of 1.50 and a debt-to-equity ratio of 1.24. The stock’s 50 day moving average price is $95.41 and its two-hundred day moving average price is $88.83.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.23. Gilead Sciences had a net margin of 1.67% and a return on equity of 31.63%. Equities research analysts expect that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Increases Dividend

The company also recently announced 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 an increase from Gilead Sciences’s previous quarterly dividend of $0.77. This represents a $3.16 annualized dividend and a yield of 2.87%. The ex-dividend date is Friday, March 14th. Gilead Sciences’s dividend payout ratio (DPR) is 832.43%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on GILD shares. UBS Group boosted their target price on Gilead Sciences from $70.00 to $96.00 and gave the stock a “neutral” rating in a research report on Thursday, November 21st. Wolfe Research began coverage on shares of Gilead Sciences in a research note on Friday, November 15th. They issued an “outperform” rating and a $110.00 target price for the company. Royal Bank of Canada lifted their price target on shares of Gilead Sciences from $84.00 to $90.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft raised shares of Gilead Sciences from a “hold” rating to a “buy” rating and boosted their price target for the company from $80.00 to $120.00 in a report on Tuesday, February 18th. Finally, Truist Financial raised their price objective on Gilead Sciences from $83.00 to $97.00 and gave the stock a “hold” rating in a research note on Friday, November 8th. Eleven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $102.08.

Insider Buying and Selling

In other 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 directly owns 169,061 shares of the company’s stock, valued at $17,597,559.49. This trade represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Merdad Parsey sold 164,211 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $91.92, for a total value of $15,094,275.12. Following the transaction, the insider now directly owns 80,801 shares in the company, valued at $7,427,227.92. The trade was a 67.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 713,000 shares of company stock worth $67,945,181. Company insiders own 0.16% of the company’s stock.

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.