Gilead Sciences (NASDAQ:GILD) Price Target Raised to $96.00

Gilead Sciences (NASDAQ:GILD) had its target price boosted by The Goldman Sachs Group from $85.00 to $96.00 in a report published on Wednesday morning,Benzinga reports. They currently have a neutral rating on the biopharmaceutical company’s stock.

Other equities analysts have also issued reports about the stock. Leerink Partnrs upgraded shares of Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 21st. Citigroup initiated coverage on shares of Gilead Sciences in a research report on Thursday, November 14th. They set a “buy” rating and a $125.00 target price on the stock. Daiwa America upgraded shares of Gilead Sciences to a “hold” rating in a research report on Monday, November 18th. Maxim Group lowered shares of Gilead Sciences from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Gilead Sciences from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Eleven investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $101.33.

Gilead Sciences Price Performance

NASDAQ:GILD opened at $104.08 on Wednesday. The firm has a market cap of $129.71 billion, a PE ratio of 1,156.44, a price-to-earnings-growth ratio of 1.25 and a beta of 0.18. Gilead Sciences has a 12 month low of $62.07 and a 12 month high of $106.69. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 1.24. The company’s 50-day moving average price is $93.63 and its two-hundred day moving average price is $87.37.

Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.67 by $0.23. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. On average, equities analysts anticipate that Gilead Sciences will post 4.35 EPS for the current fiscal year.

Gilead Sciences Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 3.04%. The ex-dividend date is Friday, March 14th. This is a boost from Gilead Sciences’s previous quarterly dividend of $0.77. Gilead Sciences’s dividend payout ratio is 854.05%.

Insider Activity

In related news, Director Jeffrey Bluestone sold 6,788 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $91.39, for a total transaction of $620,355.32. Following the completion of the transaction, the director now owns 8,920 shares in the company, valued at approximately $815,198.80. This represents a 43.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Andrew D. Dickinson sold 137,676 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $102.22, for a total transaction of $14,073,240.72. Following the transaction, the chief financial officer now owns 171,223 shares of the company’s stock, valued at $17,502,415.06. The trade was a 44.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 710,500 shares of company stock worth $67,684,956 over the last quarter. 0.16% of the stock is currently owned by company insiders.

Institutional Trading of Gilead Sciences

A number of large investors have recently added to or reduced their stakes in GILD. AMF Tjanstepension AB lifted its stake in Gilead Sciences by 14.7% in the third quarter. AMF Tjanstepension AB now owns 400,819 shares of the biopharmaceutical company’s stock valued at $33,645,000 after acquiring an additional 51,390 shares during the last quarter. Koshinski Asset Management Inc. lifted its stake in Gilead Sciences by 7.7% in the third quarter. Koshinski Asset Management Inc. now owns 3,615 shares of the biopharmaceutical company’s stock valued at $303,000 after acquiring an additional 259 shares during the last quarter. Sapient Capital LLC acquired a new stake in Gilead Sciences in the third quarter valued at $213,000. CX Institutional lifted its stake in Gilead Sciences by 34.2% in the third quarter. CX Institutional now owns 60,987 shares of the biopharmaceutical company’s stock valued at $5,113,000 after acquiring an additional 15,545 shares during the last quarter. Finally, Wesbanco Bank Inc. lifted its stake in Gilead Sciences by 1.8% in the third quarter. Wesbanco Bank Inc. now owns 20,526 shares of the biopharmaceutical company’s stock valued at $1,721,000 after acquiring an additional 364 shares during the last quarter. Institutional investors and hedge funds own 83.67% 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.