Sierra Summit Advisors LLC Boosts Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Sierra Summit Advisors LLC lifted its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 67.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,075 shares of the biopharmaceutical company’s stock after purchasing an additional 9,305 shares during the quarter. Sierra Summit Advisors LLC’s holdings in Gilead Sciences were worth $2,131,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GILD. Norges Bank purchased a new stake in shares of Gilead Sciences in the 4th quarter valued at approximately $1,789,254,000. FMR LLC lifted its stake in Gilead Sciences by 21.6% during the fourth quarter. FMR LLC now owns 40,319,432 shares of the biopharmaceutical company’s stock worth $3,724,306,000 after purchasing an additional 7,157,113 shares in the last quarter. Pacer Advisors Inc. boosted its position 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 buying an additional 5,653,075 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Gilead Sciences in the fourth quarter valued at $207,340,000. Finally, Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Gilead Sciences by 148.4% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 1,817,880 shares of the biopharmaceutical company’s stock valued at $167,209,000 after buying an additional 1,085,987 shares during the period. 83.67% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Gilead Sciences

In other news, CFO Andrew D. Dickinson sold 142,180 shares of Gilead Sciences stock in a transaction dated 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 sale, the chief financial officer now owns 129,873 shares of the company’s stock, valued at $12,626,253.06. The trade was a 52.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 302,785 shares of company stock worth $30,503,250 over the last 90 days. 0.16% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

GILD has been the topic of several recent research reports. Bank of America upped their target price on shares of Gilead Sciences from $116.00 to $126.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft upgraded Gilead Sciences from a “hold” rating to a “buy” rating and upped their price target for the stock from $80.00 to $120.00 in a report on Tuesday, February 18th. DZ Bank upgraded Gilead Sciences from a “hold” rating to a “buy” rating and set a $108.00 price objective for the company in a research note on Thursday, February 13th. The Goldman Sachs Group raised their target price on shares of Gilead Sciences from $85.00 to $96.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a research note on Wednesday, February 12th. Eleven investment 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 company currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.12.

Gilead Sciences Stock Down 4.6 %

Shares of NASDAQ:GILD opened at $107.25 on Monday. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $119.96. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.50 and a quick ratio of 1.20. The stock has a market cap of $133.54 billion, a P/E ratio of 289.86, a P/E/G ratio of 0.71 and a beta of 0.32. The firm has a fifty day moving average price of $107.30 and a 200 day moving average price of $95.98.

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

Gilead Sciences Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a $0.79 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.95%. This is a positive change from Gilead Sciences’s previous quarterly dividend of $0.77. Gilead Sciences’s payout ratio is presently 854.05%.

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.