Exchange Traded Concepts LLC Raises Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Exchange Traded Concepts LLC raised its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 36.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 335,325 shares of the biopharmaceutical company’s stock after buying an additional 89,508 shares during the period. Gilead Sciences accounts for 0.6% of Exchange Traded Concepts LLC’s portfolio, making the stock its 23rd biggest position. Exchange Traded Concepts LLC’s holdings in Gilead Sciences were worth $30,974,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Public Sector Pension Investment Board lifted its holdings in Gilead Sciences by 72.9% in the second quarter. Public Sector Pension Investment Board now owns 47,722 shares of the biopharmaceutical company’s stock valued at $3,274,000 after acquiring an additional 20,120 shares during the period. Marshall Wace LLP purchased a new stake in Gilead Sciences during the 2nd quarter worth approximately $8,269,000. Insigneo Advisory Services LLC lifted its position in shares of Gilead Sciences by 1.7% in the second quarter. Insigneo Advisory Services LLC now owns 8,830 shares of the biopharmaceutical company’s stock valued at $661,000 after acquiring an additional 148 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Gilead Sciences by 43.2% in the second quarter. Point72 Asset Management L.P. now owns 512,125 shares of the biopharmaceutical company’s stock worth $35,137,000 after acquiring an additional 154,525 shares during the last quarter. Finally, Fred Alger Management LLC raised its position in shares of Gilead Sciences by 9.8% in the second quarter. Fred Alger Management LLC now owns 27,357 shares of the biopharmaceutical company’s stock valued at $1,877,000 after buying an additional 2,442 shares during the last quarter. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GILD has been the subject of a number of recent analyst reports. Leerink Partners upgraded shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $74.00 to $96.00 in a report on Monday, October 21st. Citigroup assumed coverage on Gilead Sciences in a research report on Thursday, November 14th. They set a “buy” rating and a $125.00 price target for the company. Oppenheimer boosted their price objective on Gilead Sciences from $105.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Royal Bank of Canada reiterated a “sector perform” rating and set a $84.00 target price on shares of Gilead Sciences in a report on Wednesday, December 11th. Finally, The Goldman Sachs Group lifted their price objective on Gilead Sciences from $74.00 to $84.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Eleven analysts have rated the stock with a hold rating, thirteen have given a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $97.96.

Gilead Sciences Price Performance

Shares of NASDAQ GILD opened at $92.78 on Friday. The firm has a market capitalization of $115.63 billion, a P/E ratio of 1,030.87, a PEG ratio of 1.31 and a beta of 0.18. Gilead Sciences, Inc. has a one year low of $62.07 and a one year high of $98.90. The company’s fifty day moving average is $91.63 and its two-hundred day moving average is $84.63. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.10 and a current ratio of 1.26.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.44. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The business had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.01 billion. During the same quarter last year, the business posted $2.29 earnings per share. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. Analysts forecast that Gilead Sciences, Inc. will post 4.36 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were paid a dividend of $0.77 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $3.08 annualized dividend and a dividend yield of 3.32%. Gilead Sciences’s dividend payout ratio is currently 3,422.22%.

Insiders Place Their Bets

In other Gilead Sciences news, Director Jeffrey Bluestone sold 6,788 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $91.39, for a total transaction of $620,355.32. Following the completion of the sale, the director now owns 8,920 shares of the company’s stock, valued at approximately $815,198.80. The trade was a 43.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Andrew D. Dickinson sold 2,500 shares of Gilead Sciences stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $91.35, for a total value of $228,375.00. Following the completion of the transaction, the chief financial officer now directly owns 129,873 shares in the company, valued at $11,863,898.55. This represents a 1.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 456,234 shares of company stock valued at $42,130,461. Company insiders own 0.16% of the company’s stock.

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.