19,370,510 Shares in Gilead Sciences, Inc. (NASDAQ:GILD) Purchased by Norges Bank

Norges Bank acquired a new position in Gilead Sciences, Inc. (NASDAQ:GILD) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 19,370,510 shares of the biopharmaceutical company’s stock, valued at approximately $1,789,254,000.

A number of other large investors have also recently made changes to their positions in the business. HHM Wealth Advisors LLC raised its holdings in Gilead Sciences by 118.5% in the 4th quarter. HHM Wealth Advisors LLC now owns 284 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 154 shares in the last quarter. YANKCOM Partnership bought a new position in Gilead Sciences in the fourth quarter worth about $28,000. Decker Retirement Planning Inc. purchased a new stake in Gilead Sciences in the fourth quarter worth about $29,000. Crews Bank & Trust purchased a new position in shares of Gilead Sciences during the 4th quarter worth approximately $31,000. Finally, Stephens Consulting LLC raised its position in shares of Gilead Sciences by 325.0% in the 4th quarter. Stephens Consulting LLC now owns 340 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 260 shares in the last quarter. 83.67% of the stock is currently owned by institutional investors.

Gilead Sciences Price Performance

GILD stock opened at $109.27 on Thursday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.20 and a current ratio of 1.50. The company’s fifty day moving average price is $104.69 and its 200-day moving average price is $94.46. Gilead Sciences, Inc. has a one year low of $62.07 and a one year high of $119.96. The company has a market capitalization of $136.08 billion, a PE ratio of 295.32, a price-to-earnings-growth ratio of 0.71 and a beta of 0.21.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 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%. On average, equities analysts anticipate that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.

Gilead Sciences Increases Dividend

The firm 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 dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 2.89%. This is a boost from Gilead Sciences’s previous quarterly dividend of $0.77. The ex-dividend date is Friday, March 14th. Gilead Sciences’s dividend payout ratio is currently 854.05%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on GILD shares. Morgan Stanley upped their price target on Gilead Sciences from $123.00 to $130.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 11th. Wells Fargo & Company increased their price target on shares of Gilead Sciences from $120.00 to $140.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. The Goldman Sachs Group upped their price objective on shares of Gilead Sciences from $85.00 to $96.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft raised Gilead Sciences from a “hold” rating to a “buy” rating and raised their price objective for the company from $80.00 to $120.00 in a research report on Tuesday, February 18th. Finally, DZ Bank upgraded Gilead Sciences from a “hold” rating to a “buy” rating and set a $108.00 price target for the company in a report on Thursday, February 13th. Eleven 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.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $104.52.

Insider Activity at Gilead Sciences

In other news, CFO Andrew D. Dickinson sold 2,500 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $91.35, for a total value of $228,375.00. Following the sale, the chief financial officer now owns 129,873 shares of the company’s stock, valued at approximately $11,863,898.55. This represents a 1.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last quarter, insiders sold 302,785 shares of company stock valued at $30,503,250. Insiders own 0.16% of the company’s stock.

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.