Pictet Asset Management Holding SA lowered its stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 24.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,212,654 shares of the biopharmaceutical company's stock after selling 1,048,709 shares during the quarter. Pictet Asset Management Holding SA owned about 0.26% of Gilead Sciences worth $296,753,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Southland Equity Partners LLC boosted its position in shares of Gilead Sciences by 3.6% during the fourth quarter. Southland Equity Partners LLC now owns 3,128 shares of the biopharmaceutical company's stock worth $289,000 after purchasing an additional 110 shares in the last quarter. Berkshire Bank lifted its holdings in shares of Gilead Sciences by 3.4% during the 4th quarter. Berkshire Bank now owns 3,398 shares of the biopharmaceutical company's stock valued at $314,000 after purchasing an additional 111 shares in the last quarter. CFO4Life Group LLC increased its stake 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. increased its position in shares of Gilead Sciences by 2.5% during the fourth quarter. Howe & Rusling Inc. now owns 4,704 shares of the biopharmaceutical company's stock worth $435,000 after acquiring an additional 115 shares in the last quarter. Finally, GHP Investment Advisors Inc. raised its stake in shares of Gilead Sciences by 1.1% in the 4th 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 during the period. Institutional investors own 83.67% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on the company. 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 report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft upgraded shares of Gilead Sciences from a "hold" rating to a "buy" rating and increased their price objective for the stock from $80.00 to $120.00 in a research note on Tuesday, February 18th. Needham & Company LLC reaffirmed a "hold" rating on shares of Gilead Sciences in a research report on Wednesday, February 12th. Wells Fargo & Company raised their price target on Gilead Sciences from $120.00 to $140.00 and gave the company an "overweight" rating in a research note on Wednesday, March 5th. Finally, DZ Bank raised 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. Eleven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $105.12.
Get Our Latest Stock Analysis on GILD
Gilead Sciences Stock Performance
Shares of GILD traded down $0.58 during mid-day trading on Tuesday, hitting $111.47. 2,410,650 shares of the company's stock were exchanged, compared to its average volume of 8,562,145. 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 52 week low of $62.07 and a 52 week high of $119.96. The stock's 50-day simple moving average is $105.88 and its 200-day simple moving average is $95.20. The firm has a market cap of $138.82 billion, a price-to-earnings ratio of 301.08, a price-to-earnings-growth ratio of 0.71 and a beta of 0.21.
Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted 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%. On average, equities research analysts expect that Gilead Sciences, Inc. will post 7.95 EPS for the current year.
Gilead Sciences Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from Gilead Sciences's previous quarterly dividend of $0.77. Gilead Sciences's dividend payout ratio is 854.05%.
Insider Buying and Selling
In other Gilead Sciences news, CFO Andrew D. Dickinson sold 142,180 shares of Gilead Sciences stock in a transaction dated 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 transaction, the chief financial officer now owns 129,873 shares in the company, valued at $12,626,253.06. The trade was a 52.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last 90 days, insiders have sold 302,785 shares of company stock worth $30,503,250. Corporate insiders own 0.16% of the company's stock.
Gilead Sciences Profile
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Free Report)
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.
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