OVERSEA CHINESE BANKING Corp Ltd Acquires Shares of 7,253 Gilead Sciences, Inc. (NASDAQ:GILD)

OVERSEA CHINESE BANKING Corp Ltd bought a new stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 7,253 shares of the biopharmaceutical company's stock, valued at approximately $670,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GILD. HHM Wealth Advisors LLC increased 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 worth $26,000 after purchasing an additional 154 shares during the period. YANKCOM Partnership bought a new position in Gilead Sciences in the fourth quarter worth $28,000. Decker Retirement Planning Inc. bought a new stake in Gilead Sciences in the 4th quarter valued at $29,000. Crews Bank & Trust acquired a new position in shares of Gilead Sciences in the 4th quarter valued at $31,000. Finally, Stephens Consulting LLC raised its position in Gilead Sciences by 325.0% in the fourth quarter. Stephens Consulting LLC now owns 340 shares of the biopharmaceutical company's stock worth $31,000 after purchasing an additional 260 shares in the last quarter. Institutional investors and hedge funds own 83.67% of the company's stock.

Gilead Sciences Stock Up 1.1 %

Shares of NASDAQ:GILD traded up $1.15 during mid-day trading on Tuesday, reaching $107.89. 8,444,141 shares of the stock were exchanged, compared to its average volume of 6,795,009. 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 one year low of $62.07 and a one year high of $119.96. The company has a market cap of $134.36 billion, a P/E ratio of 291.59, a P/E/G ratio of 0.71 and a beta of 0.21. The stock's 50 day simple moving average is $104.01 and its 200-day simple moving average is $94.15.

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Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its 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%. As a group, equities research analysts predict that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Friday, March 14th. 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 2.93%. Gilead Sciences's dividend payout ratio is 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 that occurred 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 completion of the sale, the chief financial officer now owns 169,061 shares of the company's stock, valued at approximately $19,977,938.37. This represents a 9.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 302,785 shares of company stock worth $30,503,250 over the last ninety days. 0.16% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on GILD shares. Oppenheimer increased their target price on Gilead Sciences from $115.00 to $132.00 and gave the stock an "outperform" rating in a report on Tuesday, March 4th. The Goldman Sachs Group increased their price objective on Gilead Sciences from $85.00 to $96.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 12th. BMO Capital Markets boosted their price target on shares of Gilead Sciences from $110.00 to $115.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Cantor Fitzgerald reissued a "neutral" rating and issued a $80.00 price objective on shares of Gilead Sciences in a research note on Wednesday, December 11th. Finally, Royal Bank of Canada lifted their target price on Gilead Sciences from $84.00 to $90.00 and gave the company a "sector perform" rating in a research note on Wednesday, February 12th. 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. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $104.52.

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.