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

Wakefield Asset Management LLLP purchased a new stake in Gilead Sciences, Inc. (NASDAQ:GILD) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 5,561 shares of the biopharmaceutical company’s stock, valued at approximately $514,000.

Other hedge funds also recently made changes to their positions in the company. FMR LLC raised its stake in Gilead Sciences by 79.4% during the 3rd quarter. FMR LLC now owns 33,162,319 shares of the biopharmaceutical company’s stock valued at $2,780,329,000 after acquiring an additional 14,680,161 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Gilead Sciences by 50.9% during the third quarter. Wellington Management Group LLP now owns 34,600,676 shares of the biopharmaceutical company’s stock valued at $2,900,921,000 after purchasing an additional 11,665,593 shares during the period. Pacer Advisors Inc. raised its stake 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 purchasing an additional 5,653,075 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in 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 purchasing an additional 1,793,145 shares during the period. Finally, Jennison Associates LLC bought a new position in Gilead Sciences in the 4th quarter valued at about $87,163,000. Institutional investors own 83.67% of the company’s stock.

Gilead Sciences Trading Up 1.4 %

Gilead Sciences stock opened at $111.99 on Friday. The company’s fifty day moving average price is $96.98 and its two-hundred day moving average price is $89.65. 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, Inc. has a one year low of $62.07 and a one year high of $112.57. The company has a market capitalization of $139.57 billion, a price-to-earnings ratio of 302.68, a PEG ratio of 0.71 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share (EPS) for the quarter, beating 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%. On average, analysts forecast that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.79 per share. The ex-dividend date is Friday, March 14th. This represents a $3.16 dividend on an annualized basis and a yield of 2.82%. This is an increase from Gilead Sciences’s previous quarterly dividend of $0.77. Gilead Sciences’s payout ratio is currently 854.05%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on GILD shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research note on Wednesday, February 12th. Citigroup initiated coverage on Gilead Sciences in a research report on Thursday, November 14th. They issued a “buy” rating and a $125.00 target price for the company. Maxim Group cut Gilead Sciences from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Mizuho raised their target price on Gilead Sciences from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Finally, The Goldman Sachs Group boosted their price target 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. Eleven 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 company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $102.08.

Insider Buying and Selling at Gilead Sciences

In other news, CFO Andrew D. Dickinson sold 2,500 shares of Gilead Sciences stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $91.35, for a total transaction of $228,375.00. Following the sale, the chief financial officer now directly owns 129,873 shares in the company, 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 is accessible through the SEC website. Insiders have sold 293,356 shares of company stock valued at $29,166,240 in the last 90 days. 0.16% of the stock is currently owned by company 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.