Abacus FCF Advisors LLC Acquires 50,408 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Abacus FCF Advisors LLC increased its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 66.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 125,877 shares of the biopharmaceutical company's stock after purchasing an additional 50,408 shares during the quarter. Gilead Sciences makes up approximately 1.5% of Abacus FCF Advisors LLC's holdings, making the stock its 11th biggest holding. Abacus FCF Advisors LLC's holdings in Gilead Sciences were worth $11,627,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GILD. McAdam LLC lifted its stake in shares of Gilead Sciences by 16.7% during the fourth quarter. McAdam LLC now owns 25,372 shares of the biopharmaceutical company's stock valued at $2,344,000 after acquiring an additional 3,627 shares during the period. Capital Investment Advisors LLC boosted its stake in shares of Gilead Sciences by 2.6% in the 4th quarter. Capital Investment Advisors LLC now owns 387,492 shares of the biopharmaceutical company's stock valued at $35,793,000 after purchasing an additional 9,791 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in shares of Gilead Sciences by 3.9% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 142,167 shares of the biopharmaceutical company's stock worth $13,132,000 after buying an additional 5,382 shares during the period. Global Financial Private Client LLC raised its stake in shares of Gilead Sciences by 1,222.0% during the fourth quarter. Global Financial Private Client LLC now owns 6,068 shares of the biopharmaceutical company's stock worth $561,000 after buying an additional 5,609 shares during the last quarter. Finally, Exome Asset Management LLC acquired a new position in Gilead Sciences in the third quarter valued at approximately $4,192,000. 83.67% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

GILD has been the subject of several recent research reports. 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 report on Wednesday, February 12th. JPMorgan Chase & Co. increased their target price on Gilead Sciences from $120.00 to $130.00 and gave the company an "overweight" rating in a research note on Thursday, March 27th. BMO Capital Markets raised their target price on Gilead Sciences from $110.00 to $115.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Wells Fargo & Company upped their price target on Gilead Sciences from $120.00 to $140.00 and gave the company an "overweight" rating in a research note on Wednesday, March 5th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Gilead Sciences from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $80.00 to $120.00 in a research note on Tuesday, February 18th. Eleven 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.com, Gilead Sciences has an average rating of "Moderate Buy" and a consensus price target of $105.12.

Insiders Place Their Bets

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 2,500 shares of Gilead Sciences stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $91.35, for a total value of $228,375.00. Following the completion of the transaction, the chief financial officer now directly owns 129,873 shares of the company's stock, valued at $11,863,898.55. The trade was a 1.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 302,785 shares of company stock worth $30,503,250 in the last quarter. 0.16% of the stock is currently owned by corporate insiders.

Gilead Sciences Stock Performance

GILD traded up $2.23 on Friday, reaching $103.63. The company had a trading volume of 8,683,683 shares, compared to its average volume of 7,493,897. The company's fifty day moving average is $108.34 and its 200 day moving average is $96.79. 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 stock has a market cap of $129.04 billion, a P/E ratio of 280.08, a P/E/G ratio of 0.71 and a beta of 0.32. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $119.96.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its quarterly 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 return on equity of 31.63% and a net margin of 1.67%. As a group, analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 3.05%. This is a positive change from Gilead Sciences's previous quarterly dividend of $0.77. The ex-dividend date of this dividend was Friday, March 14th. Gilead Sciences's dividend payout ratio (DPR) is currently 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.