Douglas Lane & Associates LLC Takes $278,000 Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Douglas Lane & Associates LLC purchased a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,479 shares of the biopharmaceutical company's stock, valued at approximately $278,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Norges Bank bought a new stake in Gilead Sciences during the 4th quarter valued at approximately $1,789,254,000. FMR LLC boosted its stake in Gilead Sciences by 21.6% during the fourth quarter. FMR LLC now owns 40,319,432 shares of the biopharmaceutical company's stock worth $3,724,306,000 after buying an additional 7,157,113 shares in the last quarter. GAMMA Investing LLC increased its holdings in Gilead Sciences by 13,891.1% in the 1st quarter. GAMMA Investing LLC now owns 2,550,298 shares of the biopharmaceutical company's stock valued at $285,761,000 after buying an additional 2,532,070 shares during the period. Northern Trust Corp raised its stake in shares of Gilead Sciences by 19.7% in the 4th quarter. Northern Trust Corp now owns 14,915,095 shares of the biopharmaceutical company's stock valued at $1,377,707,000 after buying an additional 2,458,954 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Gilead Sciences during the 4th quarter worth about $207,340,000. Institutional investors own 83.67% of the company's stock.

Insider Transactions at Gilead Sciences

In other news, CFO Andrew D. Dickinson sold 2,500 shares of the firm's stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $106.40, for a total value of $266,000.00. Following the transaction, the chief financial officer now directly owns 168,174 shares in the company, valued at $17,893,713.60. This trade represents a 1.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Johanna Mercier sold 28,000 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $107.52, for a total value of $3,010,560.00. Following the completion of the sale, the insider now owns 121,152 shares of the company's stock, valued at $13,026,263.04. This represents a 18.77% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 60,929 shares of company stock worth $6,748,980 in the last quarter. 0.27% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on GILD shares. Bank of America upped their target price on shares of Gilead Sciences from $116.00 to $126.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. Morgan Stanley lifted their price objective on Gilead Sciences from $130.00 to $135.00 and gave the company an "overweight" rating in a report on Friday, April 25th. BMO Capital Markets increased their target price on Gilead Sciences from $110.00 to $115.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. boosted their price target on Gilead Sciences from $120.00 to $130.00 and gave the company an "overweight" rating in a research note on Thursday, March 27th. Finally, Cantor Fitzgerald assumed coverage on Gilead Sciences in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $125.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Gilead Sciences currently has a consensus rating of "Moderate Buy" and an average target price of $110.55.

Gilead Sciences Trading Up 0.4%

NASDAQ:GILD traded up $0.42 during trading hours on Tuesday, hitting $109.33. 9,875,443 shares of the stock were exchanged, compared to its average volume of 7,732,483. The company has a market capitalization of $136.00 billion, a P/E ratio of 295.49, a price-to-earnings-growth ratio of 0.71 and a beta of 0.26. 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 company's 50 day moving average is $105.49 and its two-hundred day moving average is $101.04. Gilead Sciences, Inc. has a twelve month low of $62.69 and a twelve month high of $119.96.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, topping analysts' consensus estimates of $1.77 by $0.04. The company had revenue of $6.67 billion during the quarter, compared to the consensus estimate of $6.77 billion. Gilead Sciences had a return on equity of 31.63% and a net margin of 1.67%. The firm's quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.32) earnings per share. On average, sell-side analysts anticipate that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend is Friday, June 13th. Gilead Sciences's dividend payout ratio (DPR) is presently 66.53%.

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.