Adage Capital Partners GP L.L.C. Makes New $158.33 Million Investment in Gilead Sciences, Inc. (NASDAQ:GILD)

Adage Capital Partners GP L.L.C. bought a new stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,714,130 shares of the biopharmaceutical company's stock, valued at approximately $158,334,000. Adage Capital Partners GP L.L.C. owned approximately 0.14% of Gilead Sciences at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. HHM Wealth Advisors LLC boosted its stake 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 valued at $26,000 after purchasing an additional 154 shares during the period. YANKCOM Partnership purchased a new stake in Gilead Sciences during the 4th quarter worth $28,000. Decker Retirement Planning Inc. acquired a new position in Gilead Sciences in the 4th quarter worth $29,000. Crews Bank & Trust purchased a new position in Gilead Sciences in the 4th quarter valued at about $31,000. Finally, Stephens Consulting LLC increased its position in shares of Gilead Sciences by 325.0% during the fourth quarter. Stephens Consulting LLC now owns 340 shares of the biopharmaceutical company's stock worth $31,000 after acquiring an additional 260 shares during the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on GILD. Wells Fargo & Company raised their price objective on Gilead Sciences from $120.00 to $140.00 and gave the company an "overweight" rating in a research note on Wednesday, March 5th. Oppenheimer decreased their price target on shares of Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating for the company in a research report on Friday. Piper Sandler upped their price target 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. BMO Capital Markets raised their price objective on shares of Gilead Sciences from $110.00 to $115.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Finally, Morgan Stanley upped their target price on shares of Gilead Sciences from $130.00 to $135.00 and gave the company an "overweight" rating in a research note on Friday. Nine analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $108.42.

Insider Activity 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 stock was sold at an average price of $97.22, for a total transaction of $13,822,739.60. Following the completion of the transaction, the chief financial officer now directly owns 129,873 shares of the company's stock, valued at approximately $12,626,253.06. This trade represents a 52.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 302,785 shares of company stock worth $30,540,875 in the last 90 days. Corporate insiders own 0.27% of the company's stock.

Gilead Sciences Stock Performance

NASDAQ GILD traded down $2.98 on Friday, hitting $103.17. The stock had a trading volume of 14,207,970 shares, compared to its average volume of 7,526,289. The company's 50-day moving average is $109.21 and its two-hundred day moving average is $98.15. Gilead Sciences, Inc. has a one year low of $62.07 and a one year high of $119.96. The stock has a market cap of $128.46 billion, a price-to-earnings ratio of 278.84, a P/E/G ratio of 0.71 and a beta of 0.32. The company has a quick ratio of 1.20, a current ratio of 1.50 and a debt-to-equity ratio of 1.24.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.08. Gilead Sciences had a return on equity of 31.63% and a net margin of 1.67%. The firm had revenue of $6.67 billion for the quarter, compared to the consensus estimate of $6.77 billion. During the same quarter in the previous year, the business earned ($1.32) EPS. On average, analysts expect that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be given a $0.79 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $3.16 dividend on an annualized basis and a yield of 3.06%. 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.