Convergence Investment Partners LLC Buys 9,330 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Convergence Investment Partners LLC raised its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 15.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 68,447 shares of the biopharmaceutical company’s stock after purchasing an additional 9,330 shares during the period. Gilead Sciences accounts for 1.4% of Convergence Investment Partners LLC’s portfolio, making the stock its 8th largest position. Convergence Investment Partners LLC’s holdings in Gilead Sciences were worth $6,322,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the stock. nVerses Capital LLC purchased a new position in shares of Gilead Sciences in the 3rd quarter worth about $25,000. HHM Wealth Advisors LLC grew its stake in Gilead Sciences by 118.5% during the fourth quarter. HHM Wealth Advisors LLC now owns 284 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 154 shares during the period. Valued Wealth Advisors LLC increased its position in shares of Gilead Sciences by 101.9% in the third quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 161 shares in the last quarter. YANKCOM Partnership purchased a new position in shares of Gilead Sciences in the 4th quarter valued at $28,000. Finally, Decker Retirement Planning Inc. acquired a new position in shares of Gilead Sciences during the 4th quarter valued at $29,000. Institutional investors and hedge funds own 83.67% of the company’s stock.

Gilead Sciences Stock Up 1.1 %

NASDAQ GILD opened at $105.25 on Wednesday. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $106.69. The company has a market capitalization of $131.17 billion, a price-to-earnings ratio of 1,169.44, a PEG ratio of 1.25 and a beta of 0.18. The stock’s 50 day moving average is $94.39 and its two-hundred day moving average is $88.09. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results 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 return on equity of 29.00% and a net margin of 0.45%. Equities analysts forecast that Gilead Sciences, Inc. will post 4.35 earnings per share for the current fiscal year.

Gilead Sciences Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 3.00%. The ex-dividend date is Friday, March 14th. This is an increase from Gilead Sciences’s previous quarterly dividend of $0.77. Gilead Sciences’s payout ratio is currently 3,422.22%.

Insider Transactions at Gilead Sciences

In related news, Director Jeffrey Bluestone sold 6,788 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $91.39, for a total transaction of $620,355.32. Following the completion of the sale, the director now directly owns 8,920 shares of the company’s stock, valued at $815,198.80. This trade represents a 43.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Andrew D. Dickinson sold 137,676 shares of the business’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $102.22, for a total value of $14,073,240.72. Following the completion of the transaction, the chief financial officer now directly owns 171,223 shares in the company, valued at approximately $17,502,415.06. This represents a 44.57 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 710,500 shares of company stock valued at $67,684,956. 0.16% of the stock is owned by insiders.

Analyst Ratings Changes

GILD has been the topic of a number of recent research reports. Maxim Group cut Gilead Sciences from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Cantor Fitzgerald reiterated a “neutral” rating and set a $80.00 price objective on shares of Gilead Sciences in a research note on Wednesday, December 11th. Royal Bank of Canada upped their target price on shares of Gilead Sciences from $84.00 to $90.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 12th. Mizuho lifted their price target on shares of Gilead Sciences from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Finally, Daiwa America upgraded shares of Gilead Sciences to a “hold” rating in a report on Monday, November 18th. 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 company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $102.08.

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.