IPG Investment Advisors LLC Acquires New Position in Gilead Sciences, Inc. (NASDAQ:GILD)

IPG Investment Advisors LLC bought a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,350 shares of the biopharmaceutical company's stock, valued at approximately $217,000.

A number of other institutional investors also recently bought and sold shares of the business. Summit Securities Group LLC increased its position in Gilead Sciences by 942.7% during the 4th quarter. Summit Securities Group LLC now owns 21,897 shares of the biopharmaceutical company's stock worth $2,023,000 after purchasing an additional 19,797 shares during the period. Schroder Investment Management Group increased its holdings in shares of Gilead Sciences by 14.1% in the 4th quarter. Schroder Investment Management Group now owns 2,286,141 shares of the biopharmaceutical company's stock valued at $210,348,000 after purchasing an additional 282,787 shares in the last quarter. Intrust Bank NA grew its position in Gilead Sciences by 10.0% during the fourth quarter. Intrust Bank NA now owns 26,764 shares of the biopharmaceutical company's stock worth $2,472,000 after buying an additional 2,435 shares during the period. Allstate Corp purchased a new position in Gilead Sciences in the fourth quarter valued at about $3,422,000. Finally, Maridea Wealth Management LLC purchased a new stake in shares of Gilead Sciences during the 4th quarter worth approximately $496,000. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on GILD. DZ Bank upgraded shares of Gilead Sciences from a "hold" rating to a "buy" rating and set a $108.00 price objective on the stock in a research report on Thursday, February 13th. Piper Sandler boosted their price target on Gilead Sciences from $105.00 to $110.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $80.00 price objective on shares of Gilead Sciences in a research note on Wednesday, December 11th. Needham & Company LLC restated a "hold" rating on shares of Gilead Sciences in a research report on Wednesday, February 12th. Finally, Oppenheimer upped their price objective on shares of Gilead Sciences from $115.00 to $132.00 and gave the company an "outperform" rating in a research note on Tuesday, March 4th. Eleven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Gilead Sciences currently has a consensus rating of "Moderate Buy" and a consensus target price of $105.12.

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Insider Activity at Gilead Sciences

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 17,929 shares of the company's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $118.17, for a total transaction of $2,118,669.93. Following the transaction, the chief financial officer now owns 169,061 shares of the company's stock, valued at approximately $19,977,938.37. This represents a 9.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 302,785 shares of company stock valued at $30,503,250 over the last ninety days. 0.16% of the stock is owned by insiders.

Gilead Sciences Price Performance

Shares of NASDAQ:GILD traded down $0.77 on Tuesday, hitting $111.28. The stock had a trading volume of 6,284,006 shares, compared to its average volume of 7,301,817. The company has a market capitalization of $138.58 billion, a price-to-earnings ratio of 300.76, a price-to-earnings-growth ratio of 0.71 and a beta of 0.21. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.20 and a current ratio of 1.50. The firm's 50 day moving average price is $106.25 and its 200-day moving average price is $95.40. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $119.96.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted its quarterly earnings data 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%. On average, equities research analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 2.84%. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from Gilead Sciences's previous quarterly dividend of $0.77. Gilead Sciences's dividend payout ratio is presently 854.05%.

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.