Gilead Sciences (NASDAQ:GILD) Price Target Raised to $105.00

Gilead Sciences (NASDAQ:GILD) had its price target boosted by Wells Fargo & Company from $100.00 to $105.00 in a report issued on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the biopharmaceutical company’s stock.

Several other brokerages also recently weighed in on GILD. Royal Bank of Canada reissued a “sector perform” rating and issued a $75.00 target price on shares of Gilead Sciences in a research note on Tuesday, October 29th. Evercore ISI raised shares of Gilead Sciences to a “strong-buy” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. raised their target price on shares of Gilead Sciences from $95.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Cantor Fitzgerald boosted their price target on Gilead Sciences from $70.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Truist Financial raised their price objective on Gilead Sciences from $82.00 to $83.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Eleven research analysts have rated the stock with a hold rating, ten have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $91.50.

Gilead Sciences Price Performance

Gilead Sciences stock traded down $1.34 during trading hours on Thursday, hitting $96.57. The stock had a trading volume of 7,457,030 shares, compared to its average volume of 5,289,753. The stock has a market capitalization of $120.22 billion, a price-to-earnings ratio of 1,072.94, a PEG ratio of 3.19 and a beta of 0.17. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.14 and a quick ratio of 0.95. Gilead Sciences has a 1-year low of $62.07 and a 1-year high of $98.32. The stock’s fifty day moving average is $85.30 and its two-hundred day moving average is $75.09.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.44. Gilead Sciences had a net margin of 0.45% and a return on equity of 28.60%. The firm had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.01 billion. During the same period last year, the firm posted $2.29 EPS. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. As a group, analysts predict that Gilead Sciences will post 3.76 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.77 per share. The ex-dividend date is Friday, December 13th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.19%. Gilead Sciences’s dividend payout ratio (DPR) is 3,422.22%.

Insider Activity

In related news, insider Merdad Parsey sold 25,590 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total value of $2,341,485.00. Following the sale, the insider now owns 99,599 shares of the company’s stock, valued at approximately $9,113,308.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Merdad Parsey sold 25,590 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $91.50, for a total value of $2,341,485.00. Following the sale, the insider now owns 99,599 shares of the company’s stock, valued at $9,113,308.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Johanna Mercier sold 5,490 shares of Gilead Sciences stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total transaction of $406,150.20. Following the completion of the sale, the insider now owns 114,979 shares in the company, valued at approximately $8,506,146.42. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 62,437 shares of company stock valued at $5,374,825. Company insiders own 0.16% of the company’s stock.

Institutional Trading of Gilead Sciences

Several large investors have recently added to or reduced their stakes in GILD. CarsonAllaria Wealth Management Ltd. increased its holdings in shares of Gilead Sciences by 198.3% during the second quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 238 shares during the period. nVerses Capital LLC bought a new position in Gilead Sciences in the 3rd quarter valued at about $25,000. Valued Wealth Advisors LLC increased its stake in Gilead Sciences by 101.9% during the 3rd quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 161 shares during the period. Cedar Wealth Management LLC raised its position in shares of Gilead Sciences by 51.6% during the 2nd quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 160 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of Gilead Sciences in the 2nd quarter worth approximately $33,000. 83.67% of the stock is currently owned by institutional investors and hedge funds.

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.