Advisors Asset Management Inc. Sells 29,260 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Advisors Asset Management Inc. lessened its position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 11.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 225,576 shares of the biopharmaceutical company's stock after selling 29,260 shares during the quarter. Advisors Asset Management Inc.'s holdings in Gilead Sciences were worth $20,836,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in GILD. FMR LLC lifted its position in shares of Gilead Sciences by 79.4% in the third quarter. FMR LLC now owns 33,162,319 shares of the biopharmaceutical company's stock valued at $2,780,329,000 after acquiring an additional 14,680,161 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Gilead Sciences by 50.9% in the third quarter. Wellington Management Group LLP now owns 34,600,676 shares of the biopharmaceutical company's stock valued at $2,900,921,000 after acquiring an additional 11,665,593 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Gilead Sciences by 723.3% in the fourth quarter. Pacer Advisors Inc. now owns 6,434,665 shares of the biopharmaceutical company's stock valued at $594,370,000 after acquiring an additional 5,653,075 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Gilead Sciences in the fourth quarter valued at approximately $207,340,000. Finally, Point72 Asset Management L.P. lifted its position in shares of Gilead Sciences by 350.1% in the third quarter. Point72 Asset Management L.P. now owns 2,305,270 shares of the biopharmaceutical company's stock valued at $193,274,000 after acquiring an additional 1,793,145 shares in the last quarter. Hedge funds and other institutional investors own 83.67% of the company's stock.

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Gilead Sciences Trading Up 1.1 %

NASDAQ GILD traded up $1.21 on Friday, hitting $107.08. 26,496,292 shares of the stock were exchanged, compared to its average volume of 6,797,069. Gilead Sciences, Inc. has a 52-week low of $62.07 and a 52-week 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 company has a market capitalization of $133.35 billion, a price-to-earnings ratio of 289.41, a P/E/G ratio of 0.71 and a beta of 0.21. The company's 50-day moving average price is $103.68 and its two-hundred day moving average price is $93.75.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 EPS for the quarter, beating 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%. Research analysts predict that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a $0.79 dividend. The ex-dividend date is Friday, March 14th. This represents a $3.16 dividend on an annualized basis and a yield of 2.95%. This is a boost from Gilead Sciences's previous quarterly dividend of $0.77. Gilead Sciences's payout ratio is presently 854.05%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on GILD shares. BMO Capital Markets increased their price target on Gilead Sciences from $110.00 to $115.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Cantor Fitzgerald reissued a "neutral" rating and set a $80.00 target price on shares of Gilead Sciences in a research note on Wednesday, December 11th. Piper Sandler raised their target price on Gilead Sciences from $105.00 to $110.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. The Goldman Sachs Group raised their target price on Gilead Sciences from $85.00 to $96.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 12th. Finally, Deutsche Bank Aktiengesellschaft raised Gilead Sciences from a "hold" rating to a "buy" rating and raised their target price for the stock from $80.00 to $120.00 in a research note on Tuesday, February 18th. Eleven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $104.52.

Insider Activity at Gilead Sciences

In related news, CFO Andrew D. Dickinson sold 17,929 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $118.17, for a total value of $2,118,669.93. Following the sale, the chief financial officer now owns 169,061 shares of the company's stock, valued at $19,977,938.37. The trade was a 9.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 302,785 shares of company stock valued at $30,503,250 over the last quarter. 0.29% of the stock is owned by company insiders.

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.