Gilead Sciences, Inc. (NASDAQ:GILD) Shares Sold by Holderness Investments Co.

Holderness Investments Co. decreased its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 3.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,507 shares of the biopharmaceutical company’s stock after selling 339 shares during the quarter. Holderness Investments Co.’s holdings in Gilead Sciences were worth $971,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. State Street Corp increased its stake in Gilead Sciences by 1.4% during the third quarter. State Street Corp now owns 60,171,691 shares of the biopharmaceutical company’s stock worth $5,044,795,000 after acquiring an additional 841,776 shares during the last quarter. Wellington Management Group LLP increased its stake in Gilead Sciences by 50.9% during the third quarter. Wellington Management Group LLP now owns 34,600,676 shares of the biopharmaceutical company’s stock worth $2,900,921,000 after acquiring an additional 11,665,593 shares during the last quarter. FMR LLC increased its stake in Gilead Sciences by 79.4% during the third quarter. FMR LLC now owns 33,162,319 shares of the biopharmaceutical company’s stock worth $2,780,329,000 after acquiring an additional 14,680,161 shares during the last quarter. Geode Capital Management LLC increased its stake in Gilead Sciences by 2.1% during the third quarter. Geode Capital Management LLC now owns 27,540,870 shares of the biopharmaceutical company’s stock worth $2,302,119,000 after acquiring an additional 574,421 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Gilead Sciences by 3.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,002,779 shares of the biopharmaceutical company’s stock worth $739,217,000 after acquiring an additional 249,804 shares during the last quarter. Institutional investors and hedge funds own 83.67% of the company’s stock.

Analysts Set New Price Targets

GILD has been the subject of several research 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 report on Thursday, February 13th. Mizuho raised their price target on Gilead Sciences from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Oppenheimer raised their price target on Gilead Sciences from $115.00 to $132.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 4th. Piper Sandler raised their price target on Gilead Sciences from $105.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Finally, UBS Group raised their price target on Gilead Sciences from $70.00 to $96.00 and gave the stock a “neutral” rating in a research report on Thursday, November 21st. 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 stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $104.52.

Gilead Sciences Stock Down 1.5 %

GILD opened at $105.87 on Friday. The business’s 50-day simple moving average is $103.33 and its 200-day simple moving average is $93.56. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.20 and a current ratio of 1.50. Gilead Sciences, Inc. has a one year low of $62.07 and a one year high of $119.96. The stock has a market capitalization of $131.84 billion, a P/E ratio of 286.14, a price-to-earnings-growth ratio of 0.71 and a beta of 0.21.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results 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%. Analysts anticipate that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 2.98%. The ex-dividend date is Friday, March 14th. This is a boost from Gilead Sciences’s previous quarterly dividend of $0.77. Gilead Sciences’s payout ratio is 854.05%.

Insider Activity at Gilead Sciences

In related news, CFO Andrew D. Dickinson sold 2,500 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $91.35, for a total value of $228,375.00. Following the transaction, the chief financial officer now owns 129,873 shares in the company, valued at $11,863,898.55. The trade was a 1.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have sold 302,785 shares of company stock worth $30,503,250 in the last quarter. Company insiders own 0.29% of the company’s stock.

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.