Sovereign Investment Advisors LLC Acquires New Shares in Gilead Sciences, Inc. (NASDAQ:GILD)

Sovereign Investment Advisors LLC acquired a new stake in Gilead Sciences, Inc. (NASDAQ:GILD) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,780 shares of the biopharmaceutical company’s stock, valued at approximately $257,000.

Several other hedge funds have also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. increased its stake in Gilead Sciences by 6.5% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 111,772 shares of the biopharmaceutical company’s stock valued at $10,324,000 after purchasing an additional 6,815 shares in the last quarter. Choate Investment Advisors raised its holdings in shares of Gilead Sciences by 3.8% in the fourth quarter. Choate Investment Advisors now owns 9,722 shares of the biopharmaceutical company’s stock worth $898,000 after acquiring an additional 353 shares during the last quarter. Globeflex Capital L P raised its holdings in shares of Gilead Sciences by 90.2% in the fourth quarter. Globeflex Capital L P now owns 404,605 shares of the biopharmaceutical company’s stock worth $37,373,000 after acquiring an additional 191,901 shares during the last quarter. Natixis Advisors LLC raised its holdings in shares of Gilead Sciences by 97.6% in the fourth quarter. Natixis Advisors LLC now owns 334,737 shares of the biopharmaceutical company’s stock worth $30,920,000 after acquiring an additional 165,374 shares during the last quarter. Finally, Frank Rimerman Advisors LLC raised its holdings in shares of Gilead Sciences by 0.7% in the fourth quarter. Frank Rimerman Advisors LLC now owns 32,318 shares of the biopharmaceutical company’s stock worth $2,985,000 after acquiring an additional 232 shares during the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

Gilead Sciences Trading Down 1.7 %

Shares of GILD opened at $111.44 on Friday. The stock’s 50-day moving average is $101.82 and its two-hundred day moving average is $92.82. The stock has a market cap of $138.78 billion, a PE ratio of 301.19, a P/E/G ratio of 0.71 and a beta of 0.21. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $119.96. 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) last issued its quarterly earnings data 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%. Equities analysts forecast that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Gilead Sciences’s previous quarterly dividend of $0.77. Gilead Sciences’s payout ratio is currently 854.05%.

Insiders Place Their Bets

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 approximately $11,863,898.55. The trade was a 1.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold a total of 311,285 shares of company stock worth $31,284,910 over the last quarter. 0.16% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a report on Wednesday, February 12th. BMO Capital Markets boosted their price target on Gilead Sciences from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Cantor Fitzgerald reissued a “neutral” rating and issued a $80.00 price target on shares of Gilead Sciences in a report on Wednesday, December 11th. Wells Fargo & Company lifted their price objective on Gilead Sciences from $120.00 to $140.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Finally, Daiwa America raised Gilead Sciences to a “hold” rating in a research report on Monday, November 18th. Eleven investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Gilead Sciences has an average rating of “Moderate Buy” and a consensus target price of $104.52.

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.