Harvest Fund Management Co. Ltd Boosts Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Harvest Fund Management Co. Ltd raised its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 41.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 80,889 shares of the biopharmaceutical company’s stock after purchasing an additional 23,512 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Gilead Sciences were worth $7,375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. HHM Wealth Advisors LLC grew 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. YANKCOM Partnership purchased a new position in Gilead Sciences in the fourth quarter valued at about $28,000. Decker Retirement Planning Inc. purchased a new position in Gilead Sciences in the fourth quarter valued at about $29,000. Crews Bank & Trust purchased a new stake in shares of Gilead Sciences during the fourth quarter worth about $31,000. Finally, Stephens Consulting LLC grew its stake in shares of Gilead Sciences by 325.0% during the fourth quarter. Stephens Consulting LLC now owns 340 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 260 shares during the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Insider Activity

In other news, CFO Andrew D. Dickinson sold 2,500 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $91.35, for a total transaction of $228,375.00. Following the transaction, the chief financial officer now owns 129,873 shares in the company, valued at $11,863,898.55. This trade represents a 1.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 302,785 shares of company stock worth $30,503,250 in the last quarter. Corporate insiders own 0.29% of the company’s stock.

Gilead Sciences Trading Down 1.8 %

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 firm has a market capitalization of $137.27 billion, a price-to-earnings ratio of 297.92, a price-to-earnings-growth ratio of 0.71 and a beta of 0.21. 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’s 50 day moving average price is $102.63 and its 200-day moving average price is $93.38.

Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share (EPS) for the quarter, beating 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%. On average, equities research 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 announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $0.79 per share. This is a positive change 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 dividend on an annualized basis and a dividend yield of 2.87%. Gilead Sciences’s dividend payout ratio (DPR) is 854.05%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Bank of America boosted their price target on Gilead Sciences from $116.00 to $126.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a research note on Wednesday, February 12th. JPMorgan Chase & Co. boosted their price target on Gilead Sciences from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. UBS Group boosted their price target on Gilead Sciences from $70.00 to $96.00 and gave the stock a “neutral” rating in a research note on Thursday, November 21st. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $80.00 price target on shares of Gilead Sciences in a research note on Wednesday, December 11th. Eleven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $104.52.

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.