Wakefield Asset Management LLLP Makes New $514,000 Investment in Gilead Sciences, Inc. (NASDAQ:GILD)

Wakefield Asset Management LLLP acquired a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) in the 4th quarter, HoldingsChannel reports. The firm acquired 5,561 shares of the biopharmaceutical company’s stock, valued at approximately $514,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Bellevue Group AG raised its position in Gilead Sciences by 18.2% in the 3rd quarter. Bellevue Group AG now owns 46,027 shares of the biopharmaceutical company’s stock valued at $3,859,000 after purchasing an additional 7,093 shares during the last quarter. Quantinno Capital Management LP lifted its position in 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 buying an additional 48,910 shares in the last quarter. McAdam LLC grew its holdings in Gilead Sciences by 16.7% during the 4th quarter. McAdam LLC now owns 25,372 shares of the biopharmaceutical company’s stock worth $2,344,000 after acquiring an additional 3,627 shares during the last quarter. IRON Financial LLC bought a new position in shares of Gilead Sciences in the third quarter worth about $830,000. Finally, Capital Investment Advisors LLC lifted its position in shares of Gilead Sciences by 2.6% during the fourth quarter. Capital Investment Advisors LLC now owns 387,492 shares of the biopharmaceutical company’s stock worth $35,793,000 after purchasing an additional 9,791 shares in the last quarter. 83.67% of the stock is owned by institutional investors and hedge funds.

Gilead Sciences Stock Up 1.4 %

Shares of GILD stock opened at $111.99 on Friday. Gilead Sciences, Inc. has a 12-month low of $62.07 and a 12-month high of $112.57. The company has a quick ratio of 1.20, a current ratio of 1.50 and a debt-to-equity ratio of 1.24. The firm has a fifty day moving average of $96.98 and a 200-day moving average of $89.65. The company has a market capitalization of $139.57 billion, a price-to-earnings ratio of 302.68, a P/E/G ratio of 0.71 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last released its earnings results 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%. As a group, equities research analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a $0.79 dividend. This is a boost from Gilead Sciences’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.16 annualized dividend and a yield of 2.82%. Gilead Sciences’s payout ratio is presently 854.05%.

Insiders Place Their Bets

In other news, CFO Andrew D. Dickinson sold 2,500 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $104.09, for a total value of $260,225.00. Following the sale, the chief financial officer now owns 169,061 shares of the company’s stock, valued at $17,597,559.49. The trade was a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold a total of 293,356 shares of company stock valued at $29,166,240 in the last quarter. 0.16% of the stock is currently owned by insiders.

Analysts Set New Price Targets

GILD has been the subject of several research analyst reports. The Goldman Sachs Group boosted their price objective on shares of Gilead Sciences from $85.00 to $96.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Morgan Stanley boosted their target price on Gilead Sciences from $113.00 to $123.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Piper Sandler raised their price target on Gilead Sciences from $105.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a report on Wednesday, February 12th. Finally, Barclays upped their target price on shares of Gilead Sciences from $84.00 to $95.00 and gave the company an “equal weight” rating in a research report on Thursday, November 7th. Eleven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, Gilead Sciences 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.