2,874 Shares in Gilead Sciences, Inc. (NASDAQ:GILD) Acquired by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc acquired a new stake in Gilead Sciences, Inc. (NASDAQ:GILD) during the fourth quarter, HoldingsChannel reports. The fund acquired 2,874 shares of the biopharmaceutical company’s stock, valued at approximately $265,000.

Several other large investors have also recently added to or reduced their stakes in the company. Bellevue Group AG increased its position in Gilead Sciences by 18.2% during the third quarter. Bellevue Group AG now owns 46,027 shares of the biopharmaceutical company’s stock worth $3,859,000 after acquiring an additional 7,093 shares during the period. Quantinno Capital Management LP grew its position in shares of Gilead Sciences by 149.5% during the 3rd quarter. Quantinno Capital Management LP now owns 81,620 shares of the biopharmaceutical company’s stock worth $6,843,000 after purchasing an additional 48,910 shares in the last quarter. McAdam LLC increased its holdings in shares of Gilead Sciences by 16.7% during the fourth quarter. McAdam LLC now owns 25,372 shares of the biopharmaceutical company’s stock worth $2,344,000 after purchasing an additional 3,627 shares during the period. IRON Financial LLC acquired a new stake in shares of Gilead Sciences in the third quarter valued at approximately $830,000. Finally, Capital Investment Advisors LLC boosted its stake in shares of Gilead Sciences by 2.6% in the fourth quarter. Capital Investment Advisors LLC now owns 387,492 shares of the biopharmaceutical company’s stock valued at $35,793,000 after buying an additional 9,791 shares during the period. Institutional investors own 83.67% of the company’s stock.

Insider Transactions at Gilead Sciences

In other 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 value of $620,355.32. Following the transaction, the director now directly owns 8,920 shares of the company’s stock, valued at $815,198.80. The trade was a 43.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Andrew D. Dickinson sold 248,645 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $92.76, for a total value of $23,064,310.20. Following the sale, the chief financial officer now owns 138,919 shares in the company, valued at approximately $12,886,126.44. The trade was a 64.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 713,000 shares of company stock worth $67,945,181 over the last three months. 0.16% of the stock is owned by company insiders.

Gilead Sciences Stock Performance

Shares of Gilead Sciences stock opened at $109.95 on Monday. The stock has a market cap of $137.03 billion, a price-to-earnings ratio of 297.16, a P/E/G ratio of 0.71 and a beta of 0.18. The company has a quick ratio of 1.20, a current ratio of 1.50 and a debt-to-equity ratio of 1.24. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $111.03. The company’s fifty day moving average is $95.41 and its 200 day moving average is $88.83.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data 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 return on equity of 31.63% and a net margin of 1.67%. Sell-side analysts forecast that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $0.79 dividend. This is a positive change from Gilead Sciences’s previous quarterly dividend of $0.77. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date is Friday, March 14th. Gilead Sciences’s dividend payout ratio is currently 832.43%.

Analysts Set New Price Targets

Several brokerages have weighed in on GILD. Deutsche Bank Aktiengesellschaft raised Gilead Sciences from a “hold” rating to a “buy” rating and lifted their price objective for the company from $80.00 to $120.00 in a report on Tuesday, February 18th. BMO Capital Markets upped their price objective on shares of Gilead Sciences from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Piper Sandler raised their target price on shares of Gilead Sciences from $105.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Bank of America restated a “buy” rating and issued a $109.00 target price on shares of Gilead Sciences in a research report on Tuesday, December 10th. Finally, Oppenheimer increased their price target on shares of Gilead Sciences from $105.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Eleven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $102.08.

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.