Summit Securities Group LLC Has $2.02 Million Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Summit Securities Group LLC increased its position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 942.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,897 shares of the biopharmaceutical company's stock after buying an additional 19,797 shares during the quarter. Gilead Sciences comprises approximately 0.4% of Summit Securities Group LLC's holdings, making the stock its 28th largest position. Summit Securities Group LLC's holdings in Gilead Sciences were worth $2,023,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Southland Equity Partners LLC grew its stake in Gilead Sciences by 3.6% during the 4th quarter. Southland Equity Partners LLC now owns 3,128 shares of the biopharmaceutical company's stock valued at $289,000 after acquiring an additional 110 shares in the last quarter. Berkshire Bank boosted its holdings in shares of Gilead Sciences by 3.4% during the fourth quarter. Berkshire Bank now owns 3,398 shares of the biopharmaceutical company's stock worth $314,000 after purchasing an additional 111 shares during the period. CFO4Life Group LLC grew its position in Gilead Sciences by 2.7% during the fourth quarter. CFO4Life Group LLC now owns 4,265 shares of the biopharmaceutical company's stock valued at $394,000 after purchasing an additional 112 shares in the last quarter. Howe & Rusling Inc. increased its stake in Gilead Sciences by 2.5% in the 4th quarter. Howe & Rusling Inc. now owns 4,704 shares of the biopharmaceutical company's stock valued at $435,000 after buying an additional 115 shares during the period. Finally, GHP Investment Advisors Inc. lifted its position in Gilead Sciences by 1.1% in the 4th quarter. GHP Investment Advisors Inc. now owns 11,354 shares of the biopharmaceutical company's stock worth $1,049,000 after buying an additional 122 shares in the last quarter. Institutional investors own 83.67% of the company's stock.

Remove Ads

Gilead Sciences Stock Performance

Shares of NASDAQ GILD traded down $0.77 during trading hours on Tuesday, reaching $111.28. The stock had a trading volume of 6,284,006 shares, compared to its average volume of 7,287,905. The company has a market cap of $138.58 billion, a price-to-earnings ratio of 300.76, a PEG ratio of 0.71 and a beta of 0.21. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $119.96. The business's fifty day moving average is $105.88 and its two-hundred day moving average is $95.20. 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 announced its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share (EPS) 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, research analysts expect that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $0.79 dividend. 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 2.84%. The ex-dividend date of this dividend was Friday, March 14th. Gilead Sciences's dividend payout ratio is currently 854.05%.

Wall Street Analysts Forecast Growth

GILD has been the subject of several recent research reports. 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 report on Wednesday, February 12th. DZ Bank upgraded shares of Gilead Sciences from a "hold" rating to a "buy" rating and set a $108.00 target price for the company in a research note on Thursday, February 13th. Needham & Company LLC restated a "hold" rating on shares of Gilead Sciences in a research note on Wednesday, February 12th. JPMorgan Chase & Co. lifted their price objective on shares of Gilead Sciences from $120.00 to $130.00 and gave the company an "overweight" rating in a research note on Thursday, March 27th. Finally, Royal Bank of Canada raised their target price on Gilead Sciences from $84.00 to $90.00 and gave the company a "sector perform" rating in a 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $105.12.

Insider Buying and Selling

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 17,929 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $118.17, for a total transaction of $2,118,669.93. Following the sale, the chief financial officer now directly owns 169,061 shares of the company's stock, valued at approximately $19,977,938.37. This represents a 9.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 302,785 shares of company stock worth $30,503,250 in the last 90 days. 0.16% of the stock is owned by company insiders.

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.