Summit Financial LLC Has $1.80 Million Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Summit Financial LLC increased its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 392.0% in the fourth quarter, Holdings Channel reports. The firm owned 19,434 shares of the biopharmaceutical company’s stock after buying an additional 15,484 shares during the quarter. Summit Financial LLC’s holdings in Gilead Sciences were worth $1,795,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Gilead Sciences in the 4th quarter valued at $1,789,254,000. Wellington Management Group LLP grew its stake in Gilead Sciences by 50.9% in the third quarter. Wellington Management Group LLP now owns 34,600,676 shares of the biopharmaceutical company’s stock valued at $2,900,921,000 after acquiring an additional 11,665,593 shares during the period. Pacer Advisors Inc. increased its holdings in shares of Gilead Sciences by 723.3% in the fourth quarter. Pacer Advisors Inc. now owns 6,434,665 shares of the biopharmaceutical company’s stock worth $594,370,000 after acquiring an additional 5,653,075 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Gilead Sciences during the fourth quarter worth about $207,340,000. Finally, Point72 Asset Management L.P. lifted its holdings in shares of Gilead Sciences by 350.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,305,270 shares of the biopharmaceutical company’s stock valued at $193,274,000 after purchasing an additional 1,793,145 shares in the last quarter. Institutional investors own 83.67% of the company’s stock.

Insider Activity

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 2,500 shares of Gilead Sciences stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $91.35, for a total value of $228,375.00. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders sold 302,785 shares of company stock valued at $30,503,250. 0.16% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on GILD shares. Morgan Stanley increased their target price on Gilead Sciences from $123.00 to $130.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 11th. Oppenheimer raised their price objective on shares of Gilead Sciences from $115.00 to $132.00 and gave the stock an “outperform” rating in a report on Tuesday, March 4th. Piper Sandler boosted their price objective on shares of Gilead Sciences from $105.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Cantor Fitzgerald reiterated a “neutral” rating and set a $80.00 target price on shares of Gilead Sciences in a report on Wednesday, December 11th. Finally, Deutsche Bank Aktiengesellschaft upgraded Gilead Sciences from a “hold” rating to a “buy” rating and boosted their price target for the company from $80.00 to $120.00 in a report on Tuesday, February 18th. 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 company. According to MarketBeat, Gilead Sciences presently has a consensus rating of “Moderate Buy” and an average price target of $105.12.

Gilead Sciences Stock Performance

Shares of GILD stock opened at $111.28 on Wednesday. Gilead Sciences, Inc. has a 52 week low of $62.07 and a 52 week high of $119.96. The company has a market capitalization of $138.58 billion, a price-to-earnings ratio of 300.76, a PEG ratio of 0.71 and a beta of 0.21. The company has a 50-day simple moving average of $106.25 and a 200 day simple moving average of $95.40. 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 (NASDAQ:GILD) last issued its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share (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%. On average, sell-side analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a dividend of $0.79 per share. This is a boost from Gilead Sciences’s previous quarterly dividend of $0.77. The ex-dividend date was Friday, March 14th. This represents a $3.16 annualized dividend and a yield of 2.84%. Gilead Sciences’s dividend payout ratio (DPR) is presently 854.05%.

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.