Tocqueville Asset Management L.P. Sells 600 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Tocqueville Asset Management L.P. cut its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 0.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 75,197 shares of the biopharmaceutical company’s stock after selling 600 shares during the period. Tocqueville Asset Management L.P.’s holdings in Gilead Sciences were worth $6,946,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of GILD. TCTC Holdings LLC increased its position in shares of Gilead Sciences by 10.0% in the fourth quarter. TCTC Holdings LLC now owns 2,764 shares of the biopharmaceutical company’s stock worth $255,000 after purchasing an additional 251 shares during the last quarter. Signaturefd LLC increased its position in shares of Gilead Sciences by 5.1% in the fourth quarter. Signaturefd LLC now owns 22,062 shares of the biopharmaceutical company’s stock worth $2,038,000 after purchasing an additional 1,062 shares during the last quarter. Cibc World Markets Corp increased its position in shares of Gilead Sciences by 236.8% in the fourth quarter. Cibc World Markets Corp now owns 661,209 shares of the biopharmaceutical company’s stock worth $61,076,000 after purchasing an additional 464,874 shares during the last quarter. GLOBALT Investments LLC GA increased its position in shares of Gilead Sciences by 20.3% in the fourth quarter. GLOBALT Investments LLC GA now owns 48,659 shares of the biopharmaceutical company’s stock worth $4,495,000 after purchasing an additional 8,204 shares during the last quarter. Finally, SlateStone Wealth LLC bought a new position in shares of Gilead Sciences in the fourth quarter worth approximately $237,000. 83.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on GILD shares. Piper Sandler upped their price objective on shares of Gilead Sciences from $105.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. DZ Bank upgraded shares of Gilead Sciences from a “hold” rating to a “buy” rating and set a $108.00 price target on the stock in a research report on Thursday, February 13th. Mizuho increased their price target on shares of Gilead Sciences from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. The Goldman Sachs Group increased their price target on shares of Gilead Sciences from $85.00 to $96.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $80.00 price target on shares of Gilead Sciences in a research report on Wednesday, December 11th. 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $104.52.

Gilead Sciences Price Performance

Shares of NASDAQ:GILD opened at $110.23 on Wednesday. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $119.96. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.50 and a quick ratio of 1.20. The business has a fifty day moving average price of $102.63 and a 200-day moving average price of $93.38. The company has a market capitalization of $137.27 billion, a PE ratio of 297.92, a PEG ratio of 0.71 and a beta of 0.21.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.90 EPS for the quarter, topping the consensus estimate 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 analysts expect that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.

Gilead Sciences Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 2.87%. This is an increase from Gilead Sciences’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend is Friday, March 14th. Gilead Sciences’s dividend payout ratio (DPR) is presently 854.05%.

Insider Buying and Selling

In related news, CFO Andrew D. Dickinson sold 142,180 shares of Gilead Sciences stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $97.22, for a total value of $13,822,739.60. Following the completion of the sale, the chief financial officer now directly owns 129,873 shares in the company, valued at approximately $12,626,253.06. This trade represents a 52.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders sold 302,785 shares of company stock worth $30,503,250. 0.29% of the stock is owned by corporate insiders.

Gilead Sciences 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.