SVB Wealth LLC Acquires Shares of 77,353 Gilead Sciences, Inc. (NASDAQ:GILD)

SVB Wealth LLC bought a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 77,353 shares of the biopharmaceutical company’s stock, valued at approximately $7,145,000.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Flputnam Investment Management Co. increased its stake in shares of Gilead Sciences by 9.3% during the fourth quarter. Flputnam Investment Management Co. now owns 5,772 shares of the biopharmaceutical company’s stock worth $533,000 after purchasing an additional 490 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in shares of Gilead Sciences by 7.8% during the fourth quarter. Parkside Financial Bank & Trust now owns 3,007 shares of the biopharmaceutical company’s stock worth $278,000 after purchasing an additional 217 shares in the last quarter. Shoker Investment Counsel Inc. increased its stake in shares of Gilead Sciences by 1.5% during the fourth quarter. Shoker Investment Counsel Inc. now owns 22,649 shares of the biopharmaceutical company’s stock worth $2,092,000 after purchasing an additional 345 shares in the last quarter. Wakefield Asset Management LLLP purchased a new stake in shares of Gilead Sciences during the fourth quarter worth about $514,000. Finally, QRG Capital Management Inc. increased its stake in shares of Gilead Sciences by 7.1% during the fourth quarter. QRG Capital Management Inc. now owns 258,585 shares of the biopharmaceutical company’s stock worth $23,885,000 after purchasing an additional 17,141 shares in the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Insider Transactions at Gilead Sciences

In other news, CFO Andrew D. Dickinson sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $91.35, for a total value of $228,375.00. Following the transaction, the chief financial officer now directly owns 129,873 shares in the company, valued at approximately $11,863,898.55. This represents a 1.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have sold 293,356 shares of company stock worth $29,166,240. 0.16% of the stock is currently owned by insiders.

Analyst Ratings Changes

GILD has been the subject of a number of research reports. Maxim Group cut shares of Gilead Sciences from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $80.00 price objective on shares of Gilead Sciences in a research note on Wednesday, December 11th. Daiwa America raised shares of Gilead Sciences to a “hold” rating in a research note on Monday, November 18th. Citigroup started coverage on shares of Gilead Sciences in a research note on Thursday, November 14th. They set a “buy” rating and a $125.00 price objective for the company. Finally, Morgan Stanley upped their price objective on shares of Gilead Sciences from $113.00 to $123.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Eleven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $102.08.

Gilead Sciences Stock Performance

Shares of GILD stock opened at $114.31 on Friday. The firm’s 50 day moving average price is $97.42 and its 200-day moving average price is $89.94. 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 $114.77. The firm has a market cap of $142.46 billion, a P/E ratio of 308.95, a P/E/G ratio of 0.71 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.90 EPS for the quarter, topping the consensus estimate 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, equities research analysts predict 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 will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued 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 2.76%. The ex-dividend date of this dividend is Friday, March 14th. Gilead Sciences’s dividend payout ratio is currently 854.05%.

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.