DnB Asset Management AS Has $28 Million Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

DnB Asset Management AS increased its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 5.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 303,103 shares of the biopharmaceutical company's stock after purchasing an additional 14,626 shares during the period. DnB Asset Management AS's holdings in Gilead Sciences were worth $27,998,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Southland Equity Partners LLC increased its position in shares of Gilead Sciences by 3.6% in the fourth quarter. Southland Equity Partners LLC now owns 3,128 shares of the biopharmaceutical company's stock worth $289,000 after acquiring an additional 110 shares in the last quarter. Berkshire Bank boosted its stake in Gilead Sciences by 3.4% in the 4th quarter. Berkshire Bank now owns 3,398 shares of the biopharmaceutical company's stock worth $314,000 after purchasing an additional 111 shares during the period. CFO4Life Group LLC grew its position in Gilead Sciences by 2.7% during the 4th quarter. CFO4Life Group LLC now owns 4,265 shares of the biopharmaceutical company's stock worth $394,000 after purchasing an additional 112 shares in the last quarter. Howe & Rusling Inc. raised its stake in Gilead Sciences by 2.5% during the 4th quarter. Howe & Rusling Inc. now owns 4,704 shares of the biopharmaceutical company's stock valued at $435,000 after purchasing an additional 115 shares during the period. Finally, GHP Investment Advisors Inc. lifted its holdings in shares of Gilead Sciences by 1.1% in the fourth quarter. GHP Investment Advisors Inc. now owns 11,354 shares of the biopharmaceutical company's stock valued at $1,049,000 after purchasing an additional 122 shares in the last quarter. 83.67% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

Several analysts recently commented on GILD shares. Oppenheimer raised their price target on shares of Gilead Sciences from $115.00 to $132.00 and gave the stock an "outperform" rating in a report on Tuesday, March 4th. DZ Bank upgraded shares of Gilead Sciences from a "hold" rating to a "buy" rating and set a $108.00 price target on the stock in a research note on Thursday, February 13th. BMO Capital Markets lifted their price objective on shares of Gilead Sciences from $110.00 to $115.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Royal Bank of Canada increased their target price on shares of Gilead Sciences from $84.00 to $90.00 and gave the stock a "sector perform" rating in a research report on Wednesday, February 12th. Finally, Wells Fargo & Company boosted their price target on Gilead Sciences from $120.00 to $140.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 5th. Eleven 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $105.12.

Gilead Sciences Price Performance

NASDAQ:GILD traded down $0.77 during mid-day trading on Tuesday, reaching $111.28. 6,218,323 shares of the company were exchanged, compared to its average volume of 7,287,868. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $119.96. The stock has a market cap of $138.58 billion, a PE ratio of 300.76, a PEG ratio of 0.71 and a beta of 0.21. 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 company has a fifty day moving average of $105.88 and a 200 day moving average of $95.20.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share for the quarter, beating analysts' consensus estimates of $1.67 by $0.23. Gilead Sciences had a net margin of 1.67% and a return on equity of 31.63%. On average, research analysts anticipate that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.

Gilead Sciences Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a dividend of $0.79 per share. This is a boost from Gilead Sciences's previous quarterly dividend of $0.77. This represents a $3.16 annualized dividend and a yield of 2.84%. The ex-dividend date was Friday, March 14th. Gilead Sciences's payout ratio is currently 854.05%.

Insider Buying and Selling at Gilead Sciences

In other news, CFO Andrew D. Dickinson sold 17,929 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $118.17, for a total value of $2,118,669.93. Following the transaction, the chief financial officer now owns 169,061 shares of the company's stock, valued at $19,977,938.37. This represents a 9.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders have sold 302,785 shares of company stock worth $30,503,250. Company insiders own 0.16% of the company's stock.

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.