Seven Mile Advisory Invests $246,000 in Gilead Sciences, Inc. (NASDAQ:GILD)

Seven Mile Advisory purchased a new stake in Gilead Sciences, Inc. (NASDAQ:GILD) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,668 shares of the biopharmaceutical company’s stock, valued at approximately $246,000.

A number of other large investors have also bought and sold shares of the stock. Summit Financial LLC grew its holdings in shares of Gilead Sciences by 392.0% in the fourth quarter. Summit Financial LLC now owns 19,434 shares of the biopharmaceutical company’s stock valued at $1,795,000 after acquiring an additional 15,484 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Gilead Sciences by 0.7% during the fourth quarter. Alliancebernstein L.P. now owns 7,047,846 shares of the biopharmaceutical company’s stock worth $651,010,000 after acquiring an additional 50,434 shares in the last quarter. C M Bidwell & Associates Ltd. bought a new position in shares of Gilead Sciences in the fourth quarter worth $351,000. Meeder Asset Management Inc. lifted its holdings in Gilead Sciences by 12.9% during the 4th quarter. Meeder Asset Management Inc. now owns 214,606 shares of the biopharmaceutical company’s stock worth $19,823,000 after purchasing an additional 24,571 shares in the last quarter. Finally, AIA Group Ltd increased its position in shares of Gilead Sciences by 183.4% during the fourth quarter. AIA Group Ltd now owns 14,933 shares of the biopharmaceutical company’s stock valued at $1,379,000 after buying an additional 9,664 shares during the period. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Gilead Sciences Price Performance

GILD stock opened at $111.79 on Monday. The company has a current ratio of 1.50, a quick ratio of 1.20 and a debt-to-equity ratio of 1.24. Gilead Sciences, Inc. has a 12-month low of $62.07 and a 12-month high of $119.96. The stock has a 50-day moving average price of $105.48 and a two-hundred day moving average price of $95.00. The company has a market cap of $139.22 billion, a PE ratio of 302.14, a price-to-earnings-growth ratio of 0.71 and a beta of 0.21.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.67 by $0.23. Gilead Sciences had a return on equity of 31.63% and a net margin of 1.67%. As a group, research analysts predict that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a dividend of $0.79 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $3.16 annualized dividend and a yield of 2.83%. This is an increase from Gilead Sciences’s previous quarterly dividend of $0.77. Gilead Sciences’s payout ratio is presently 854.05%.

Insider Buying and Selling at Gilead Sciences

In other news, CFO Andrew D. Dickinson sold 17,929 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $118.17, for a total value of $2,118,669.93. Following the completion of the sale, the chief financial officer now owns 169,061 shares of the company’s stock, valued at $19,977,938.37. This trade represents a 9.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In the last 90 days, insiders have sold 302,785 shares of company stock valued at $30,503,250. Company insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Bank of America raised their price target on shares of Gilead Sciences from $116.00 to $126.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a research report on Wednesday, February 12th. BMO Capital Markets lifted their target price on shares of Gilead Sciences from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft upgraded shares of Gilead Sciences from a “hold” rating to a “buy” rating and raised their price objective for the company from $80.00 to $120.00 in a research report on Tuesday, February 18th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $80.00 target price on shares of Gilead Sciences in a research note on Wednesday, December 11th. Eleven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $105.12.

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.