Gilead Sciences, Inc. (NASDAQ:GILD) Shares Acquired by Convergence Investment Partners LLC

Convergence Investment Partners LLC lifted its position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 15.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,447 shares of the biopharmaceutical company's stock after buying an additional 9,330 shares during the quarter. Gilead Sciences comprises approximately 1.4% of Convergence Investment Partners LLC's holdings, making the stock its 8th biggest position. Convergence Investment Partners LLC's holdings in Gilead Sciences were worth $6,322,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in GILD. nVerses Capital LLC bought a new position in Gilead Sciences during the third quarter worth $25,000. HHM Wealth Advisors LLC boosted its position in Gilead Sciences by 118.5% during the fourth quarter. HHM Wealth Advisors LLC now owns 284 shares of the biopharmaceutical company's stock worth $26,000 after purchasing an additional 154 shares during the period. Valued Wealth Advisors LLC boosted its position in Gilead Sciences by 101.9% during the third quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company's stock worth $27,000 after purchasing an additional 161 shares during the period. YANKCOM Partnership bought a new position in Gilead Sciences during the fourth quarter worth $28,000. Finally, Decker Retirement Planning Inc. bought a new position in Gilead Sciences during the fourth quarter worth $29,000. 83.67% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Andrew D. Dickinson sold 248,645 shares of Gilead Sciences stock in a transaction on Friday, November 29th. The shares were sold at an average price of $92.76, for a total value of $23,064,310.20. Following the completion of the sale, the chief financial officer now owns 138,919 shares in the company, valued at $12,886,126.44. The trade was a 64.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jeffrey Bluestone sold 6,788 shares of Gilead Sciences stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $91.39, for a total transaction of $620,355.32. Following the completion of the sale, the director now directly owns 8,920 shares of the company's stock, valued at approximately $815,198.80. The trade was a 43.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 713,000 shares of company stock worth $67,945,181 in the last quarter. 0.16% of the stock is owned by corporate insiders.

Gilead Sciences Trading Down 0.1 %

Gilead Sciences stock traded down $0.08 during mid-day trading on Friday, hitting $109.95. 9,729,048 shares of the stock were exchanged, compared to its average volume of 7,379,648. 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, Inc. has a 12 month low of $62.07 and a 12 month high of $111.03. The firm's fifty day simple moving average is $95.41 and its two-hundred day simple moving average is $88.73. The stock has a market capitalization of $137.03 billion, a price-to-earnings ratio of 297.16, a PEG ratio of 0.71 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share 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%. Analysts forecast that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders 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 annualized dividend and a dividend yield of 2.87%. This is a positive change from Gilead Sciences's previous quarterly dividend of $0.77. Gilead Sciences's payout ratio is currently 832.43%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Piper Sandler lifted their price objective on shares of Gilead Sciences from $105.00 to $110.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Maxim Group cut shares of Gilead Sciences from a "buy" rating to a "hold" rating in a research report on Friday, November 8th. Wolfe Research assumed coverage on shares of Gilead Sciences in a research report on Friday, November 15th. They issued an "outperform" rating and a $110.00 target price for the company. Daiwa America raised shares of Gilead Sciences to a "hold" rating in a research report on Monday, November 18th. Finally, UBS Group boosted their target price on shares of Gilead Sciences from $70.00 to $96.00 and gave the company a "neutral" rating in a research report on Thursday, November 21st. Eleven analysts have rated the stock with a hold rating, fifteen have issued a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $102.08.

Gilead Sciences 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.