SVB Wealth LLC Invests $7.15 Million in Gilead Sciences, Inc. (NASDAQ:GILD)

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

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

Insider Activity at Gilead Sciences

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 2,500 shares of Gilead Sciences stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $104.09, for a total value of $260,225.00. Following the completion of the transaction, the chief financial officer now owns 169,061 shares of the company’s stock, valued at approximately $17,597,559.49. The trade was a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 293,356 shares of company stock worth $29,166,240 over the last three months. Company insiders own 0.16% of the company’s stock.

Gilead Sciences Trading Up 2.1 %

NASDAQ GILD opened at $114.31 on Friday. The company has a market capitalization of $142.46 billion, a PE ratio of 308.95, a P/E/G ratio of 0.71 and a beta of 0.18. The company has a fifty day moving average of $97.42 and a 200 day moving average of $89.94. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $114.77. 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 posted its earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.67 by $0.23. Gilead Sciences had a net margin of 1.67% and a return on equity of 31.63%. Research analysts forecast that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a dividend of $0.79 per share. The ex-dividend date is Friday, March 14th. This is an increase from Gilead Sciences’s previous quarterly dividend of $0.77. This represents a $3.16 dividend on an annualized basis and a yield of 2.76%. Gilead Sciences’s payout ratio is currently 854.05%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on GILD shares. Truist Financial lifted their price objective on shares of Gilead Sciences from $83.00 to $97.00 and gave the company a “hold” rating in a report on Friday, November 8th. Bank of America reissued a “buy” rating and set a $109.00 price objective on shares of Gilead Sciences in a report on Tuesday, December 10th. Oppenheimer lifted their price objective on shares of Gilead Sciences from $105.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Wells Fargo & Company raised their target price on shares of Gilead Sciences from $105.00 to $120.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Finally, BMO Capital Markets raised their target price on shares of Gilead Sciences from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Eleven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $102.08.

Gilead Sciences Company 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.