Summit Global Investments Invests $4.72 Million in Gilead Sciences, Inc. (NASDAQ:GILD)

Summit Global Investments bought a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) during the fourth quarter, Holdings Channel.com reports. The firm bought 51,080 shares of the biopharmaceutical company’s stock, valued at approximately $4,718,000.

A number of other large investors also recently modified their holdings of GILD. State Street Corp lifted its holdings in Gilead Sciences by 1.4% in the third quarter. State Street Corp now owns 60,171,691 shares of the biopharmaceutical company’s stock valued at $5,044,795,000 after buying an additional 841,776 shares during the period. Wellington Management Group LLP lifted its holdings in Gilead Sciences by 50.9% in the third quarter. Wellington Management Group LLP now owns 34,600,676 shares of the biopharmaceutical company’s stock valued at $2,900,921,000 after buying an additional 11,665,593 shares during the period. FMR LLC lifted its holdings in Gilead Sciences by 79.4% in the third quarter. FMR LLC now owns 33,162,319 shares of the biopharmaceutical company’s stock valued at $2,780,329,000 after buying an additional 14,680,161 shares during the period. Geode Capital Management LLC lifted its holdings in Gilead Sciences by 2.1% in the third quarter. Geode Capital Management LLC now owns 27,540,870 shares of the biopharmaceutical company’s stock valued at $2,302,119,000 after buying an additional 574,421 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Gilead Sciences by 3.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,002,779 shares of the biopharmaceutical company’s stock valued at $739,217,000 after buying an additional 249,804 shares during the period. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Piper Sandler increased their price objective on shares of Gilead Sciences from $105.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Royal Bank of Canada upped their target price on shares of Gilead Sciences from $84.00 to $90.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 12th. Morgan Stanley upped their target price on shares of Gilead Sciences from $123.00 to $130.00 and gave the company an “overweight” rating in a research note on Tuesday, March 11th. JPMorgan Chase & Co. upped their target price on shares of Gilead Sciences from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Finally, DZ Bank raised shares of Gilead Sciences from a “hold” rating to a “buy” rating and set a $108.00 target price for the company in a research note on Thursday, February 13th. Eleven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $104.52.

Gilead Sciences Stock Up 1.1 %

Gilead Sciences stock opened at $107.08 on Friday. The company has a market cap of $133.35 billion, a P/E ratio of 289.41, a price-to-earnings-growth ratio of 0.71 and a beta of 0.21. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $119.96. The company has a fifty day simple moving average of $103.68 and a 200 day simple moving average of $93.75. The company has a current ratio of 1.50, a quick ratio of 1.20 and a debt-to-equity ratio of 1.24.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share for the quarter, beating 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%. Research analysts anticipate that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a $0.79 dividend. The ex-dividend date is Friday, March 14th. This represents a $3.16 dividend on an annualized basis and a yield of 2.95%. This is a boost from Gilead Sciences’s previous quarterly dividend of $0.77. Gilead Sciences’s dividend payout ratio (DPR) is currently 854.05%.

Insider Buying and Selling at Gilead Sciences

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 142,180 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $97.22, for a total value of $13,822,739.60. Following the completion of the sale, the chief financial officer now owns 129,873 shares in the company, valued at $12,626,253.06. This trade represents a 52.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 302,785 shares of company stock worth $30,503,250 over the last quarter. 0.29% of the stock is currently owned by insiders.

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.