Summit Global Investments Buys Shares of 51,080 Gilead Sciences, Inc. (NASDAQ:GILD)

Summit Global Investments bought a new stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 51,080 shares of the biopharmaceutical company's stock, valued at approximately $4,718,000.

Other institutional investors have also recently bought and sold shares of the company. Southland Equity Partners LLC grew its position in Gilead Sciences by 3.6% in the fourth quarter. Southland Equity Partners LLC now owns 3,128 shares of the biopharmaceutical company's stock valued at $289,000 after purchasing an additional 110 shares in the last quarter. Berkshire Bank boosted its stake 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 worth $314,000 after buying an additional 111 shares during the last quarter. CFO4Life Group LLC grew its holdings in shares of Gilead Sciences by 2.7% in the 4th quarter. CFO4Life Group LLC now owns 4,265 shares of the biopharmaceutical company's stock valued at $394,000 after acquiring an additional 112 shares in the last quarter. GHP Investment Advisors Inc. increased its position 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 acquiring an additional 122 shares during the last quarter. Finally, J.W. Cole Advisors Inc. raised its holdings in Gilead Sciences by 1.0% during the fourth quarter. J.W. Cole Advisors Inc. now owns 13,597 shares of the biopharmaceutical company's stock worth $1,256,000 after acquiring an additional 135 shares in the last quarter. Institutional investors own 83.67% of the company's stock.

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Insider Buying and Selling

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 2,500 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $91.35, for a total transaction of $228,375.00. Following the sale, the chief financial officer now directly owns 129,873 shares in the company, valued at $11,863,898.55. This represents a 1.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Over the last quarter, insiders have sold 302,785 shares of company stock worth $30,503,250. Company insiders own 0.16% of the company's stock.

Gilead Sciences Stock Performance

Shares of GILD stock traded up $1.38 on Wednesday, hitting $109.27. The company's stock had a trading volume of 7,391,019 shares, compared to its average volume of 6,804,936. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $119.96. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.20 and a current ratio of 1.50. The stock's 50 day moving average is $104.35 and its 200-day moving average is $94.36. The company has a market capitalization of $136.08 billion, a PE ratio of 295.32, a PEG ratio of 0.71 and a beta of 0.21.

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 (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.23. Gilead Sciences had a return on equity of 31.63% and a net margin of 1.67%. Equities research analysts expect that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Increases Dividend

The business also recently announced 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 is a positive change from Gilead Sciences's previous quarterly dividend of $0.77. This represents a $3.16 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend is Friday, March 14th. Gilead Sciences's dividend payout ratio is 854.05%.

Analyst Upgrades and Downgrades

GILD has been the subject of a number of analyst reports. DZ Bank upgraded Gilead Sciences from a "hold" rating to a "buy" rating and set a $108.00 price target for the company in a research note on Thursday, February 13th. BMO Capital Markets increased their price objective on Gilead Sciences from $110.00 to $115.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Needham & Company LLC restated a "hold" rating on shares of Gilead Sciences in a report on Wednesday, February 12th. The Goldman Sachs Group increased their price target on shares of Gilead Sciences from $85.00 to $96.00 and gave the company a "neutral" rating in a research note on Wednesday, February 12th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Gilead Sciences from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $80.00 to $120.00 in a research note on Tuesday, February 18th. Eleven equities research 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's stock. According to MarketBeat, the company presently has an average 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.