Allstate Corp Raises Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Allstate Corp lifted its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 4.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,249 shares of the biopharmaceutical company’s stock after buying an additional 187 shares during the period. Allstate Corp’s holdings in Gilead Sciences were worth $311,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Dfpg Investments LLC lifted its stake in shares of Gilead Sciences by 19.8% in the fourth quarter. Dfpg Investments LLC now owns 4,482 shares of the biopharmaceutical company’s stock worth $374,000 after acquiring an additional 741 shares in the last quarter. Creative Financial Designs Inc. ADV lifted its stake in shares of Gilead Sciences by 19.4% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 1,439 shares of the biopharmaceutical company’s stock worth $117,000 after acquiring an additional 234 shares in the last quarter. BKM Wealth Management LLC acquired a new position in shares of Gilead Sciences in the fourth quarter worth about $130,000. FORVIS Wealth Advisors LLC raised its stake in Gilead Sciences by 8.6% during the fourth quarter. FORVIS Wealth Advisors LLC now owns 3,751 shares of the biopharmaceutical company’s stock valued at $304,000 after buying an additional 296 shares in the last quarter. Finally, OneAscent Financial Services LLC raised its stake in Gilead Sciences by 37.4% during the fourth quarter. OneAscent Financial Services LLC now owns 5,682 shares of the biopharmaceutical company’s stock valued at $460,000 after buying an additional 1,548 shares in the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on GILD shares. Morgan Stanley cut their price objective on Gilead Sciences from $80.00 to $78.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. HSBC upgraded Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 price objective on the stock in a research note on Wednesday, April 24th. Maxim Group cut their price objective on Gilead Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Oppenheimer restated an “outperform” rating and set a $105.00 price objective on shares of Gilead Sciences in a research note on Friday, April 19th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $74.00 price target on shares of Gilead Sciences in a research report on Monday, July 1st. Twelve analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $82.88.

Insider Activity

In other news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $68.63, for a total transaction of $137,260.00. Following the completion of the sale, the insider now owns 96,380 shares in the company, valued at approximately $6,614,559.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.16% of the company’s stock.

Gilead Sciences Price Performance

Shares of NASDAQ:GILD traded down $0.15 on Monday, reaching $72.41. 6,420,289 shares of the company traded hands, compared to its average volume of 7,463,010. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $87.86. The company’s 50 day moving average is $67.13 and its 200-day moving average is $71.34. The stock has a market capitalization of $90.21 billion, a PE ratio of 201.25, a P/E/G ratio of 3.11 and a beta of 0.18. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.08 and a quick ratio of 0.94.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.32) EPS for the quarter, beating analysts’ consensus estimates of ($1.49) by $0.17. Gilead Sciences had a return on equity of 24.34% and a net margin of 1.76%. The company had revenue of $6.69 billion during the quarter, compared to the consensus estimate of $6.36 billion. During the same quarter in the prior year, the firm earned $1.37 EPS. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. As a group, analysts anticipate that Gilead Sciences, Inc. will post 3.71 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Friday, June 14th were given a dividend of $0.77 per share. The ex-dividend date was Friday, June 14th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.25%. Gilead Sciences’s dividend payout ratio (DPR) is presently 855.56%.

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.