Gulf International Bank UK Ltd Reduces Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Gulf International Bank UK Ltd lowered its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 1.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 97,639 shares of the biopharmaceutical company’s stock after selling 1,066 shares during the period. Gulf International Bank UK Ltd’s holdings in Gilead Sciences were worth $9,018,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. AMF Tjanstepension AB boosted its position in shares of Gilead Sciences by 14.7% in the third quarter. AMF Tjanstepension AB now owns 400,819 shares of the biopharmaceutical company’s stock worth $33,645,000 after acquiring an additional 51,390 shares during the last quarter. Swedbank AB boosted its holdings in shares of Gilead Sciences by 10.2% during the third quarter. Swedbank AB now owns 2,047,609 shares of the biopharmaceutical company’s stock valued at $171,672,000 after acquiring an additional 189,622 shares during the period. Pallas Capital Advisors LLC boosted its holdings in shares of Gilead Sciences by 35.9% during the third quarter. Pallas Capital Advisors LLC now owns 7,836 shares of the biopharmaceutical company’s stock valued at $696,000 after acquiring an additional 2,069 shares during the period. Fortitude Family Office LLC lifted its holdings in Gilead Sciences by 225.1% in the third quarter. Fortitude Family Office LLC now owns 829 shares of the biopharmaceutical company’s stock worth $70,000 after purchasing an additional 574 shares during the period. Finally, Farmers & Merchants Investments Inc. lifted its holdings in Gilead Sciences by 2.3% in the 3rd quarter. Farmers & Merchants Investments Inc. now owns 8,861 shares of the biopharmaceutical company’s stock valued at $743,000 after acquiring an additional 200 shares during the last quarter. Institutional investors and hedge funds own 83.67% of the company’s stock.

Gilead Sciences Trading Down 1.0 %

NASDAQ:GILD opened at $110.46 on Thursday. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $112.11. The company has a 50 day simple moving average of $96.56 and a two-hundred day simple moving average of $89.49. The company has a current ratio of 1.50, a quick ratio of 1.20 and a debt-to-equity ratio of 1.24. The company has a market cap of $137.66 billion, a PE ratio of 298.54, a price-to-earnings-growth ratio of 0.71 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share 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%. Research analysts forecast that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Increases Dividend

The business also recently announced 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. 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 2.86%. The ex-dividend date is Friday, March 14th. Gilead Sciences’s dividend payout ratio is currently 854.05%.

Insiders Place Their Bets

In other news, CFO Andrew D. Dickinson sold 2,500 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $91.35, for a total transaction 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 trade represents a 1.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 542,001 shares of company stock worth $52,230,551 in the last three months. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on GILD shares. Morgan Stanley upped their target price on Gilead Sciences from $113.00 to $123.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. UBS Group upped their target price on Gilead Sciences from $70.00 to $96.00 and gave the stock a “neutral” rating in a research report on Thursday, November 21st. Bank of America reaffirmed a “buy” rating and set a $109.00 target price on shares of Gilead Sciences in a research report on Tuesday, December 10th. Wolfe Research initiated coverage on Gilead Sciences in a research report on Friday, November 15th. They issued an “outperform” rating and a $110.00 price objective for the company. Finally, Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences 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 issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.