Petros Family Wealth LLC Buys New Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Petros Family Wealth LLC bought a new position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 2,931 shares of the biopharmaceutical company's stock, valued at approximately $271,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GILD. FMR LLC grew its stake in shares of Gilead Sciences by 21.6% during the fourth quarter. FMR LLC now owns 40,319,432 shares of the biopharmaceutical company's stock worth $3,724,306,000 after purchasing an additional 7,157,113 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Gilead Sciences by 3.1% in the fourth quarter. Wellington Management Group LLP now owns 35,659,007 shares of the biopharmaceutical company's stock valued at $3,293,822,000 after acquiring an additional 1,058,331 shares during the period. Geode Capital Management LLC lifted its position in shares of Gilead Sciences by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 28,289,917 shares of the biopharmaceutical company's stock valued at $2,608,337,000 after acquiring an additional 749,047 shares during the period. Norges Bank purchased a new stake in shares of Gilead Sciences in the 4th quarter worth about $1,789,254,000. Finally, Invesco Ltd. grew its holdings in Gilead Sciences by 12.9% during the 4th quarter. Invesco Ltd. now owns 11,277,915 shares of the biopharmaceutical company's stock valued at $1,041,741,000 after buying an additional 1,292,399 shares during the last quarter. Institutional investors and hedge funds own 83.67% of the company's stock.

Gilead Sciences Price Performance

Shares of GILD traded up $0.31 during midday trading on Wednesday, hitting $105.99. 1,906,760 shares of the company traded hands, compared to its average volume of 8,887,362. The firm has a 50 day moving average of $108.63 and a 200-day moving average of $97.11. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.20 and a current ratio of 1.50. Gilead Sciences, Inc. has a 52 week low of $62.07 and a 52 week high of $119.96. The stock has a market cap of $131.97 billion, a price-to-earnings ratio of 286.46, a PEG ratio of 0.71 and a beta of 0.32.

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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, topping 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, analysts forecast that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.

Gilead Sciences Increases Dividend

The company also recently declared 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. This represents a $3.16 annualized dividend and a yield of 2.98%. The ex-dividend date was Friday, March 14th. This is an increase from Gilead Sciences's previous quarterly dividend of $0.77. Gilead Sciences's payout ratio is presently 854.05%.

Insider Activity

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 142,180 shares of the firm's stock in a transaction on Friday, January 31st. The stock was sold at an average price of $97.22, for a total value of $13,822,739.60. Following the completion of the sale, the chief financial officer now directly owns 129,873 shares of the company's stock, valued at $12,626,253.06. This trade represents a 52.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 300,285 shares of company stock valued at $30,274,875 in the last ninety days. Insiders own 0.16% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Morgan Stanley lifted their target price on Gilead Sciences from $123.00 to $130.00 and gave the company an "overweight" rating in a report on Tuesday, March 11th. Royal Bank of Canada boosted their price target on shares of Gilead Sciences from $84.00 to $90.00 and gave the company a "sector perform" rating in a report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft upgraded shares of Gilead Sciences from a "hold" rating to a "buy" rating and lifted their price objective for the company from $80.00 to $120.00 in a research note on Tuesday, February 18th. Piper Sandler lifted their target price on Gilead Sciences from $105.00 to $110.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Finally, 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 research report on Wednesday, February 12th. Eleven equities research 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 data from MarketBeat, Gilead Sciences has an average rating of "Moderate Buy" and a consensus price target of $105.12.

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.