CIBC Asset Management Inc Raises Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

CIBC Asset Management Inc increased its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 2.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 448,281 shares of the biopharmaceutical company’s stock after buying an additional 8,911 shares during the period. CIBC Asset Management Inc’s holdings in Gilead Sciences were worth $41,408,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. HHM Wealth Advisors LLC increased its stake in Gilead Sciences by 118.5% in the fourth quarter. HHM Wealth Advisors LLC now owns 284 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 154 shares during the last quarter. nVerses Capital LLC purchased a new position in Gilead Sciences in the 3rd quarter valued at $25,000. YANKCOM Partnership purchased a new position in Gilead Sciences during the fourth quarter worth about $28,000. Decker Retirement Planning Inc. acquired a new position in Gilead Sciences during the fourth quarter worth $29,000. Finally, Valued Wealth Advisors LLC lifted its position in shares of 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 acquiring an additional 161 shares during the period. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Gilead Sciences Price Performance

Shares of Gilead Sciences stock opened at $104.08 on Monday. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $106.69. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.10 and a current ratio of 1.26. The firm has a market cap of $129.71 billion, a P/E ratio of 1,156.44, a price-to-earnings-growth ratio of 1.25 and a beta of 0.18. The firm’s 50-day simple moving average is $93.87 and its 200-day simple moving average is $87.70.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.67 by $0.23. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. As a group, research analysts expect that Gilead Sciences, Inc. will post 4.35 EPS for the current fiscal year.

Gilead Sciences Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a dividend of $0.79 per share. This is an increase from Gilead Sciences’s previous quarterly dividend of $0.77. This represents a $3.16 annualized dividend and a yield of 3.04%. The ex-dividend date is Friday, March 14th. Gilead Sciences’s dividend payout ratio (DPR) is currently 3,422.22%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. DZ Bank raised Gilead Sciences from a “hold” rating to a “buy” rating and set a $108.00 price objective on the stock in a research note on Thursday. Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a research note on Wednesday, February 12th. UBS Group boosted their target price on shares of Gilead Sciences from $70.00 to $96.00 and gave the stock a “neutral” rating in a research report on Thursday, November 21st. Piper Sandler raised their target price on Gilead Sciences from $105.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Finally, The Goldman Sachs Group raised their price objective on Gilead Sciences from $85.00 to $96.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Eleven analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $101.33.

Insider Buying and Selling at Gilead Sciences

In other news, CFO Andrew D. Dickinson sold 137,676 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $102.22, for a total transaction of $14,073,240.72. Following the sale, the chief financial officer now owns 171,223 shares in the company, valued at approximately $17,502,415.06. This represents a 44.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Merdad Parsey sold 164,211 shares of the firm’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $91.92, for a total value of $15,094,275.12. Following the completion of the sale, the insider now owns 80,801 shares of the company’s stock, valued at approximately $7,427,227.92. This trade represents a 67.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 710,500 shares of company stock worth $67,684,956 over the last ninety days. Corporate 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.