Gilead Sciences, Inc. (NASDAQ:GILD) Shares Sold by Rhumbline Advisers

Rhumbline Advisers lowered its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 1.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,323,602 shares of the biopharmaceutical company’s stock after selling 39,739 shares during the quarter. Rhumbline Advisers’ holdings in Gilead Sciences were worth $214,631,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. HHM Wealth Advisors LLC grew its position in Gilead Sciences by 118.5% in the fourth quarter. HHM Wealth Advisors LLC now owns 284 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 154 shares during the period. nVerses Capital LLC acquired a new position in shares of Gilead Sciences in the 3rd quarter valued at $25,000. YANKCOM Partnership purchased a new position in shares of Gilead Sciences during the 4th quarter worth $28,000. Decker Retirement Planning Inc. acquired a new stake in shares of Gilead Sciences during the 4th quarter worth about $29,000. Finally, Valued Wealth Advisors LLC raised its holdings in Gilead Sciences by 101.9% in the 3rd quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 161 shares during the period. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on GILD shares. BMO Capital Markets increased their target price on shares of Gilead Sciences from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday. Wells Fargo & Company increased their price objective on shares of Gilead Sciences from $105.00 to $120.00 and gave the stock an “overweight” rating in a research report on Wednesday. Mizuho boosted their target price on Gilead Sciences from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Morgan Stanley upped their price target on Gilead Sciences from $113.00 to $123.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Oppenheimer lifted their price objective on Gilead Sciences from $105.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Eleven analysts have rated the stock with a hold rating, fourteen have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $101.33.

Insiders Place Their Bets

In related news, insider Merdad Parsey sold 164,211 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was 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 of the company’s stock, valued at $7,427,227.92. This represents a 67.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Andrew D. Dickinson sold 248,645 shares of Gilead Sciences stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $92.76, for a total value of $23,064,310.20. Following the transaction, the chief financial officer now directly owns 138,919 shares in the company, valued at approximately $12,886,126.44. This trade represents a 64.16 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 710,500 shares of company stock valued at $67,684,956. 0.16% of the stock is owned by corporate insiders.

Gilead Sciences Stock Performance

Shares of GILD stock opened at $104.08 on Friday. The company has a market cap of $129.71 billion, a P/E ratio of 1,156.44, a PEG ratio of 1.25 and a beta of 0.18. The firm has a fifty day moving average price of $93.63 and a 200 day moving average price of $87.37. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $106.69.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.23. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. Sell-side analysts predict that Gilead Sciences, Inc. will post 4.35 earnings per share for the current fiscal year.

Gilead Sciences Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be 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 yield of 3.04%. The ex-dividend date is Friday, March 14th. Gilead Sciences’s dividend payout ratio is currently 3,422.22%.

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.