Wellington Management Group LLP Purchases 1,058,331 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Wellington Management Group LLP lifted its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 3.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,659,007 shares of the biopharmaceutical company’s stock after acquiring an additional 1,058,331 shares during the quarter. Gilead Sciences accounts for approximately 0.6% of Wellington Management Group LLP’s investment portfolio, making the stock its 29th largest holding. Wellington Management Group LLP owned approximately 2.86% of Gilead Sciences worth $3,293,822,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. HHM Wealth Advisors LLC boosted its position in Gilead Sciences by 118.5% during the 4th quarter. HHM Wealth Advisors LLC now owns 284 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 154 shares in the last quarter. YANKCOM Partnership purchased a new stake in shares of Gilead Sciences during the 4th quarter worth $28,000. Decker Retirement Planning Inc. bought a new stake in Gilead Sciences during the fourth quarter valued at about $29,000. Crews Bank & Trust purchased a new position in Gilead Sciences in the fourth quarter valued at about $31,000. Finally, Stephens Consulting LLC raised its holdings in Gilead Sciences by 325.0% in the fourth quarter. Stephens Consulting LLC now owns 340 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 260 shares in the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GILD has been the topic of a number of analyst reports. DZ Bank raised shares of Gilead Sciences from a “hold” rating to a “buy” rating and set a $108.00 price objective on the stock in a research report on Thursday, February 13th. Morgan Stanley lifted their price target on shares of Gilead Sciences from $123.00 to $130.00 and gave the stock an “overweight” rating in a report on Tuesday, March 11th. BMO Capital Markets increased their price objective on Gilead Sciences from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft upgraded Gilead Sciences from a “hold” rating to a “buy” rating and boosted their target price for the stock from $80.00 to $120.00 in a research note on Tuesday, February 18th. Finally, JPMorgan Chase & Co. increased their price target on Gilead Sciences from $120.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday. Eleven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $105.12.

Insider Activity

In other news, CFO Andrew D. Dickinson sold 142,180 shares of Gilead Sciences stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $97.22, for a total value of $13,822,739.60. Following the sale, the chief financial officer now owns 129,873 shares in the company, valued at $12,626,253.06. This trade represents a 52.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 302,785 shares of company stock worth $30,503,250 over the last three months. 0.16% of the stock is currently owned by corporate insiders.

Gilead Sciences Stock Performance

GILD opened at $111.79 on Monday. The stock has a market cap of $139.22 billion, a P/E ratio of 302.14, a P/E/G ratio of 0.71 and a beta of 0.21. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.50 and a quick ratio of 1.20. The firm has a fifty day moving average price of $105.48 and a 200 day moving average price of $95.00. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $119.96.

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

Gilead Sciences Increases Dividend

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

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.