Belpointe Asset Management LLC Acquires 4,433 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Belpointe Asset Management LLC raised its stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 108.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,527 shares of the biopharmaceutical company's stock after acquiring an additional 4,433 shares during the quarter. Belpointe Asset Management LLC's holdings in Gilead Sciences were worth $788,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. McAdam LLC increased its position in Gilead Sciences by 16.7% during the fourth quarter. McAdam LLC now owns 25,372 shares of the biopharmaceutical company's stock worth $2,344,000 after purchasing an additional 3,627 shares during the last quarter. Capital Investment Advisors LLC grew its holdings in Gilead Sciences by 2.6% during 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 in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in shares of Gilead Sciences by 3.9% during the fourth 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 acquiring an additional 5,382 shares during the last quarter. Global Financial Private Client LLC raised its position in shares of Gilead Sciences by 1,222.0% in the 4th quarter. Global Financial Private Client LLC now owns 6,068 shares of the biopharmaceutical company's stock valued at $561,000 after purchasing an additional 5,609 shares in the last quarter. Finally, Exome Asset Management LLC acquired a new position in Gilead Sciences during the 3rd quarter worth $4,192,000. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GILD has been the subject of a number of research reports. Wells Fargo & Company lifted their price target on Gilead Sciences from $120.00 to $140.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft upgraded Gilead Sciences from a "hold" rating to a "buy" rating and lifted their target price for the stock from $80.00 to $120.00 in a research report on Tuesday, February 18th. DZ Bank raised shares of Gilead Sciences from a "hold" rating to a "buy" rating and set a $108.00 price objective for the company in a report on Thursday, February 13th. Bank of America raised their target price on shares of Gilead Sciences from $116.00 to $126.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Finally, Oppenheimer raised their target price on Gilead Sciences from $115.00 to $132.00 and gave the company an "outperform" rating in a research note on Tuesday, March 4th. Eleven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Gilead Sciences presently has a consensus rating of "Moderate Buy" and a consensus target price of $105.12.

Insider Activity

In related news, CFO Andrew D. Dickinson sold 2,500 shares of Gilead Sciences stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $106.40, for a total transaction of $266,000.00. Following the completion of the sale, the chief financial officer now owns 168,174 shares of the company's stock, valued at approximately $17,893,713.60. This trade represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 302,785 shares of company stock worth $30,540,875 in the last ninety days. Corporate insiders own 0.27% of the company's stock.

Gilead Sciences Stock Down 0.4 %

Shares of Gilead Sciences stock traded down $0.39 during midday trading on Friday, hitting $104.49. The company's stock had a trading volume of 8,066,368 shares, compared to its average volume of 7,515,503. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $119.96. The company has a quick ratio of 1.20, a current ratio of 1.50 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $130.10 billion, a P/E ratio of 282.40, a PEG ratio of 0.71 and a beta of 0.32. The stock has a 50-day simple moving average of $108.99 and a 200-day simple moving average of $97.30.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.90 EPS for the quarter, topping analysts' consensus estimates 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, sell-side analysts expect that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a dividend of $0.79 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 3.02%. This is a positive change from Gilead Sciences's previous quarterly dividend of $0.77. Gilead Sciences's dividend payout ratio (DPR) is 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.