IPG Investment Advisors LLC Purchases New Shares in Gilead Sciences, Inc. (NASDAQ:GILD)

IPG Investment Advisors LLC acquired a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) in the 4th quarter, Holdings Channel.com reports. The fund acquired 2,350 shares of the biopharmaceutical company’s stock, valued at approximately $217,000.

A number of other hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Gilead Sciences in the 4th quarter worth about $1,789,254,000. Wellington Management Group LLP lifted its stake in Gilead Sciences by 50.9% in the third quarter. Wellington Management Group LLP now owns 34,600,676 shares of the biopharmaceutical company’s stock worth $2,900,921,000 after purchasing an additional 11,665,593 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of Gilead Sciences by 723.3% during the fourth quarter. Pacer Advisors Inc. now owns 6,434,665 shares of the biopharmaceutical company’s stock valued at $594,370,000 after buying an additional 5,653,075 shares during the period. Raymond James Financial Inc. bought a new position in shares of Gilead Sciences during the fourth quarter valued at approximately $207,340,000. Finally, Point72 Asset Management L.P. raised its holdings in shares of Gilead Sciences by 350.1% in the third quarter. Point72 Asset Management L.P. now owns 2,305,270 shares of the biopharmaceutical company’s stock worth $193,274,000 after buying an additional 1,793,145 shares during the period. Institutional investors own 83.67% of the company’s stock.

Insider Transactions at Gilead Sciences

In related news, CFO Andrew D. Dickinson sold 2,500 shares of the business’s 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 completion of the sale, the chief financial officer now owns 129,873 shares of the company’s stock, valued at approximately $11,863,898.55. The trade was a 1.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 302,785 shares of company stock valued at $30,503,250 in the last three months. 0.16% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GILD. Piper Sandler boosted their price objective on Gilead Sciences from $105.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Oppenheimer boosted their target price on shares of Gilead Sciences from $115.00 to $132.00 and gave the company an “outperform” rating in a research note on Tuesday, March 4th. Wells Fargo & Company raised 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. JPMorgan Chase & Co. boosted their price objective on shares of Gilead Sciences from $120.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a research note on Wednesday, February 12th. Eleven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $105.12.

Gilead Sciences Stock Performance

GILD opened at $111.79 on Monday. The firm has a fifty day moving average price of $105.48 and a 200 day moving average price of $95.00. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $119.96. The stock has a market cap of $139.22 billion, a P/E ratio of 302.14, a P/E/G ratio of 0.71 and a beta of 0.21. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.50 and a quick ratio of 1.20.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.23. Gilead Sciences had a net margin of 1.67% and a return on equity of 31.63%. Equities research analysts anticipate that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a $0.79 dividend. The ex-dividend date of this dividend was Friday, March 14th. This is a boost 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 2.83%. Gilead Sciences’s payout ratio is 854.05%.

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.