Gilead Sciences (NASDAQ:GILD) Price Target Raised to $97.00 at Truist Financial

Gilead Sciences (NASDAQ:GILD) had its price objective raised by Truist Financial from $83.00 to $97.00 in a research report sent to investors on Friday morning,Benzinga reports. Truist Financial currently has a hold rating on the biopharmaceutical company’s stock.

Other research analysts have also issued reports about the stock. Robert W. Baird raised their price objective on shares of Gilead Sciences from $80.00 to $95.00 and gave the stock a “neutral” rating in a report on Thursday. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a report on Thursday. Piper Sandler raised their target price on shares of Gilead Sciences from $95.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday. Evercore ISI upgraded Gilead Sciences to a “strong-buy” rating in a research note on Friday, August 9th. Finally, The Goldman Sachs Group boosted their price target on shares of Gilead Sciences from $74.00 to $84.00 and gave the company a “neutral” rating in a report on Thursday. Twelve investment analysts have rated the stock with a hold rating, ten have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Gilead Sciences presently has a consensus rating of “Moderate Buy” and an average price target of $90.71.

Gilead Sciences Stock Down 1.4 %

NASDAQ:GILD traded down $1.34 during trading hours on Friday, hitting $96.57. The stock had a trading volume of 7,457,030 shares, compared to its average volume of 5,289,753. The business has a 50 day simple moving average of $85.30 and a two-hundred day simple moving average of $75.03. Gilead Sciences has a 1-year low of $62.07 and a 1-year high of $98.32. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 1.18. The company has a market cap of $120.22 billion, a PE ratio of 1,072.94, a price-to-earnings-growth ratio of 3.19 and a beta of 0.17.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.44. The firm had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.01 billion. Gilead Sciences had a net margin of 0.45% and a return on equity of 28.60%. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.29 EPS. Analysts predict that Gilead Sciences will post 3.76 EPS for the current year.

Gilead Sciences Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be paid a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.08 annualized dividend and a yield of 3.19%. Gilead Sciences’s dividend payout ratio is currently 3,422.22%.

Insiders Place Their Bets

In other news, insider Johanna Mercier sold 29,357 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the completion of the transaction, the insider now owns 78,127 shares in the company, valued at approximately $6,545,480.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Johanna Mercier sold 29,357 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the completion of the sale, the insider now owns 78,127 shares in the company, valued at approximately $6,545,480.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total value of $167,660.00. Following the completion of the transaction, the insider now owns 100,189 shares in the company, valued at $8,398,843.87. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 62,437 shares of company stock worth $5,374,825. 0.16% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Avior Wealth Management LLC raised its holdings in shares of Gilead Sciences by 1.2% during the third quarter. Avior Wealth Management LLC now owns 9,422 shares of the biopharmaceutical company’s stock valued at $782,000 after acquiring an additional 108 shares during the period. Concord Asset Management LLC VA grew its position in Gilead Sciences by 3.8% during the 3rd quarter. Concord Asset Management LLC VA now owns 3,056 shares of the biopharmaceutical company’s stock worth $256,000 after purchasing an additional 111 shares in the last quarter. TFB Advisors LLC raised its stake in Gilead Sciences by 1.2% during the 3rd quarter. TFB Advisors LLC now owns 9,397 shares of the biopharmaceutical company’s stock valued at $788,000 after purchasing an additional 116 shares during the period. Sumitomo Life Insurance Co. lifted its holdings in shares of Gilead Sciences by 0.7% in the third quarter. Sumitomo Life Insurance Co. now owns 17,822 shares of the biopharmaceutical company’s stock valued at $1,494,000 after purchasing an additional 117 shares in the last quarter. Finally, FDx Advisors Inc. lifted its holdings in shares of Gilead Sciences by 2.2% in the third quarter. FDx Advisors Inc. now owns 5,365 shares of the biopharmaceutical company’s stock valued at $450,000 after purchasing an additional 117 shares in the last quarter. 83.67% of the stock is currently owned by institutional investors and hedge funds.

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.