Pinnacle Wealth Management Advisory Group LLC Increases Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Pinnacle Wealth Management Advisory Group LLC grew its position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 8.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,698 shares of the biopharmaceutical company's stock after acquiring an additional 2,580 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC's holdings in Gilead Sciences were worth $3,113,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. J.W. Cole Advisors Inc. raised its position in shares of Gilead Sciences by 1.0% during the 4th quarter. J.W. Cole Advisors Inc. now owns 13,597 shares of the biopharmaceutical company's stock valued at $1,256,000 after buying an additional 135 shares in the last quarter. MOKAN Wealth Management Inc. purchased a new stake in Gilead Sciences during the fourth quarter valued at approximately $1,735,000. Nkcfo LLC purchased a new stake in Gilead Sciences during the fourth quarter valued at approximately $2,739,000. Strategic Financial Concepts LLC bought a new stake in shares of Gilead Sciences in the 4th quarter valued at approximately $6,640,000. Finally, Allworth Financial LP boosted its holdings in shares of Gilead Sciences by 24.8% in the 4th quarter. Allworth Financial LP now owns 35,953 shares of the biopharmaceutical company's stock worth $3,345,000 after purchasing an additional 7,143 shares during the period. 83.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on GILD shares. Robert W. Baird increased their price target on Gilead Sciences from $80.00 to $95.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. Daiwa America raised shares of Gilead Sciences to a "hold" rating in a research note on Monday, November 18th. Citigroup assumed coverage on shares of Gilead Sciences in a research note on Thursday, November 14th. They set a "buy" rating and a $125.00 price target for the company. DZ Bank raised shares of Gilead Sciences from a "hold" rating to a "buy" rating and set a $108.00 price objective on the stock in a research report on Thursday, February 13th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Gilead Sciences in a research note on Wednesday, February 12th. Eleven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $102.08.

Gilead Sciences Stock Up 1.9 %

Gilead Sciences stock traded up $2.05 during trading hours on Wednesday, reaching $107.30. The stock had a trading volume of 3,330,839 shares, compared to its average volume of 7,270,763. The company has a market cap of $133.72 billion, a price-to-earnings ratio of 290.13, a PEG ratio of 0.87 and a beta of 0.18. The business's 50 day moving average price is $94.39 and its 200-day moving average price is $88.09. Gilead Sciences, Inc. has a 52 week low of $62.07 and a 52 week high of $107.31. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.50 and a quick ratio of 1.20.

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 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%. Sell-side analysts anticipate that Gilead Sciences, Inc. will post 7.94 EPS for the current year.

Gilead Sciences Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 2.95%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Gilead Sciences's previous quarterly dividend of $0.77. Gilead Sciences's dividend payout ratio is currently 832.43%.

Insider Transactions at Gilead Sciences

In related news, insider Merdad Parsey sold 164,211 shares of Gilead Sciences stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $91.92, for a total value of $15,094,275.12. Following the completion of the sale, the insider now directly owns 80,801 shares in the company, valued at $7,427,227.92. This trade represents a 67.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Andrew D. Dickinson sold 248,645 shares of the company's stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $92.76, for a total transaction of $23,064,310.20. Following the transaction, 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 disclosure for this sale can be found here. Insiders sold 710,500 shares of company stock valued at $67,684,956 in the last quarter. 0.29% of the stock is currently owned by corporate insiders.

Gilead Sciences Company 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.