Gilead Sciences (NASDAQ:GILD) Given New $126.00 Price Target at Bank of America

Gilead Sciences (NASDAQ:GILD) had its price objective boosted by Bank of America from $116.00 to $126.00 in a research note issued to investors on Wednesday,Benzinga reports. Bank of America currently has a buy rating on the biopharmaceutical company’s stock.

Several other analysts have also weighed in on the stock. Cantor Fitzgerald reiterated a “neutral” rating and issued a $80.00 price objective on shares of Gilead Sciences in a research note on Wednesday, December 11th. Daiwa America upgraded shares of Gilead Sciences to a “hold” rating in a research note on Monday, November 18th. Maxim Group lowered shares of Gilead Sciences from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. The Goldman Sachs Group lifted their price objective on shares of Gilead Sciences from $85.00 to $96.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Finally, Robert W. Baird lifted their price objective on shares of Gilead Sciences from $80.00 to $95.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Eleven analysts have rated the stock with a hold rating, fifteen have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $104.24.

Gilead Sciences Stock Up 0.6 %

NASDAQ:GILD opened at $115.44 on Wednesday. The firm’s 50 day simple moving average is $98.71 and its 200 day simple moving average is $90.91. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.50 and a quick ratio of 1.20. Gilead Sciences has a one year low of $62.07 and a one year high of $117.39. The company has a market cap of $143.87 billion, a PE ratio of 312.00, a P/E/G ratio of 0.71 and a beta of 0.21.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share (EPS) 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%. On average, research analysts anticipate that Gilead Sciences will post 7.95 earnings per share for the current year.

Gilead Sciences Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.79 per share. The ex-dividend date of this dividend is Friday, March 14th. 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 2.74%. Gilead Sciences’s dividend payout ratio is 854.05%.

Insider Transactions at Gilead Sciences

In other news, CFO Andrew D. Dickinson sold 2,500 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $91.35, for a total value of $228,375.00. Following the sale, the chief financial officer now directly owns 129,873 shares of the company’s stock, valued at approximately $11,863,898.55. This represents a 1.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders have sold 293,356 shares of company stock valued at $29,166,240. 0.16% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GILD. HHM Wealth Advisors LLC increased its position in shares of Gilead Sciences by 118.5% in the fourth quarter. HHM Wealth Advisors LLC now owns 284 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 154 shares during the last quarter. YANKCOM Partnership bought a new position in shares of Gilead Sciences in the fourth quarter worth approximately $28,000. Decker Retirement Planning Inc. bought a new position in shares of Gilead Sciences in the fourth quarter worth approximately $29,000. Crews Bank & Trust bought a new position in shares of Gilead Sciences in the fourth quarter worth approximately $31,000. Finally, Stephens Consulting LLC increased its position in shares of Gilead Sciences by 325.0% in the fourth quarter. Stephens Consulting LLC now owns 340 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 260 shares during the last quarter. 83.67% of the stock is currently owned by institutional investors.

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.