Gilead Sciences (NASDAQ:GILD) Sets New 12-Month High – Here’s What Happened

Gilead Sciences, Inc. (NASDAQ:GILD)’s share price hit a new 52-week high on Wednesday . The company traded as high as $106.80 and last traded at $106.27, with a volume of 328148 shares trading hands. The stock had previously closed at $105.25.

Analyst Ratings Changes

Several equities research analysts have commented on the company. UBS Group boosted their price objective on Gilead Sciences from $70.00 to $96.00 and gave the stock a “neutral” rating in a research note on Thursday, November 21st. Wolfe Research initiated coverage on Gilead Sciences in a research report on Friday, November 15th. They set an “outperform” rating and a $110.00 price target for the company. Morgan Stanley raised their price objective on Gilead Sciences from $113.00 to $123.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Bank of America reaffirmed a “buy” rating and set a $109.00 target price on shares of Gilead Sciences in a report on Tuesday, December 10th. Finally, BMO Capital Markets raised their price target on shares of Gilead Sciences from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Eleven 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 company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $102.08.

Gilead Sciences Trading Down 0.1 %

The business’s fifty day simple moving average is $95.05 and its two-hundred day simple moving average is $88.38. The company has a quick ratio of 1.20, a current ratio of 1.50 and a debt-to-equity ratio of 1.24. The company has a market cap of $137.03 billion, a price-to-earnings ratio of 297.16, a PEG ratio of 0.90 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly 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 net margin of 1.67% and a return on equity of 31.63%. On average, equities analysts predict that Gilead Sciences, Inc. will post 7.94 EPS for the current year.

Gilead Sciences Increases Dividend

The company 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 $0.79 dividend. The ex-dividend date is Friday, March 14th. This represents a $3.16 dividend on an annualized basis and a yield of 2.87%. This is a boost from Gilead Sciences’s previous quarterly dividend of $0.77. Gilead Sciences’s payout ratio is currently 832.43%.

Insider Transactions at Gilead Sciences

In other news, insider Merdad Parsey sold 164,211 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $91.92, for a total value of $15,094,275.12. Following the completion of the sale, the insider now directly owns 80,801 shares of the company’s stock, valued at approximately $7,427,227.92. This represents a 67.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Andrew D. Dickinson sold 2,500 shares of the firm’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 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 713,000 shares of company stock worth $67,945,181. Insiders own 0.16% of the company’s stock.

Institutional Trading of Gilead Sciences

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

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.