Summit X LLC Sells 288 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Summit X LLC reduced its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 1.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,455 shares of the biopharmaceutical company’s stock after selling 288 shares during the quarter. Summit X LLC’s holdings in Gilead Sciences were worth $2,074,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in GILD. Swedbank AB raised its holdings in Gilead Sciences by 10.2% in the 3rd quarter. Swedbank AB now owns 2,047,609 shares of the biopharmaceutical company’s stock worth $171,672,000 after acquiring an additional 189,622 shares during the last quarter. Legacy Capital Wealth Partners LLC purchased a new position in Gilead Sciences in the 3rd quarter worth approximately $245,000. Ashton Thomas Securities LLC purchased a new position in Gilead Sciences in the 3rd quarter worth approximately $102,000. Catalytic Wealth RIA LLC purchased a new position in Gilead Sciences in the 3rd quarter worth approximately $201,000. Finally, Addison Advisors LLC raised its holdings in Gilead Sciences by 42.8% in the 3rd quarter. Addison Advisors LLC now owns 677 shares of the biopharmaceutical company’s stock worth $57,000 after acquiring an additional 203 shares during the last quarter. 83.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Cantor Fitzgerald restated a “neutral” rating and issued a $80.00 price objective on shares of Gilead Sciences in a report on Wednesday, December 11th. DZ Bank upgraded shares of Gilead Sciences from a “hold” rating to a “buy” rating and set a $108.00 target price for the company in a research note on Thursday, February 13th. Wolfe Research started coverage on shares of Gilead Sciences in a research note on Friday, November 15th. They set an “outperform” rating and a $110.00 target price for the company. Piper Sandler boosted their target price on shares of Gilead Sciences from $105.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Gilead Sciences from a “hold” rating to a “buy” rating and boosted their target price for the company from $80.00 to $120.00 in a research note on Tuesday, February 18th. Eleven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $104.52.

Insider Activity

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 8,500 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $91.96, for a total value of $781,660.00. Following the transaction, the chief financial officer now directly owns 132,373 shares in the company, valued at $12,173,021.08. The trade was a 6.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold a total of 293,356 shares of company stock worth $29,166,240 over the last 90 days. 0.16% of the stock is currently owned by company insiders.

Gilead Sciences Price Performance

Shares of GILD opened at $114.43 on Wednesday. The company has a market cap of $142.50 billion, a price-to-earnings ratio of 309.27, a price-to-earnings-growth ratio of 0.71 and a beta of 0.21. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $119.96. The company has a quick ratio of 1.20, a current ratio of 1.50 and a debt-to-equity ratio of 1.24. The company has a 50 day moving average of $100.56 and a two-hundred day moving average of $92.18.

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

Gilead Sciences Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a $0.79 dividend. This is a positive change from Gilead Sciences’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.16 annualized dividend and a dividend yield of 2.76%. Gilead Sciences’s dividend payout ratio (DPR) is 854.05%.

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.