OVERSEA CHINESE BANKING Corp Ltd Invests $670,000 in Gilead Sciences, Inc. (NASDAQ:GILD)

OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,253 shares of the biopharmaceutical company’s stock, valued at approximately $670,000.

Other large investors have also recently bought and sold shares of the company. FMR LLC raised its stake in Gilead Sciences by 79.4% in the third quarter. FMR LLC now owns 33,162,319 shares of the biopharmaceutical company’s stock valued at $2,780,329,000 after buying an additional 14,680,161 shares during the period. Wellington Management Group LLP increased its stake in Gilead Sciences by 50.9% during the 3rd quarter. Wellington Management Group LLP now owns 34,600,676 shares of the biopharmaceutical company’s stock worth $2,900,921,000 after acquiring an additional 11,665,593 shares during the period. Pacer Advisors Inc. increased its stake in Gilead Sciences by 723.3% during the 4th quarter. Pacer Advisors Inc. now owns 6,434,665 shares of the biopharmaceutical company’s stock worth $594,370,000 after acquiring an additional 5,653,075 shares during the period. Raymond James Financial Inc. bought a new position in Gilead Sciences during the 4th quarter worth $207,340,000. Finally, Point72 Asset Management L.P. increased its stake in Gilead Sciences by 350.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,305,270 shares of the biopharmaceutical company’s stock worth $193,274,000 after acquiring an additional 1,793,145 shares during the period. 83.67% of the stock is owned by institutional investors and hedge funds.

Gilead Sciences Stock Performance

GILD stock opened at $105.87 on Friday. The firm has a market cap of $131.84 billion, a PE ratio of 286.14, a P/E/G ratio of 0.71 and a beta of 0.21. 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 business has a 50 day moving average of $103.33 and a 200-day moving average of $93.56. Gilead Sciences, Inc. has a 12-month low of $62.07 and a 12-month high of $119.96.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share 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%. As a group, sell-side analysts expect that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $0.79 dividend. This is a positive change from Gilead Sciences’s previous quarterly dividend of $0.77. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date is Friday, March 14th. Gilead Sciences’s dividend payout ratio (DPR) is presently 854.05%.

Insider Transactions at Gilead Sciences

In other news, CFO Andrew D. Dickinson sold 17,929 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $118.17, for a total value of $2,118,669.93. Following the completion of the transaction, the chief financial officer now directly owns 169,061 shares of the company’s stock, valued at $19,977,938.37. This trade represents a 9.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 302,785 shares of company stock valued at $30,503,250 over the last three months. Company insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

GILD has been the topic of a number of research analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a report on Wednesday, February 12th. Morgan Stanley raised their price objective on Gilead Sciences from $123.00 to $130.00 and gave the company an “overweight” rating in a report on Tuesday, March 11th. Wells Fargo & Company raised their target price on Gilead Sciences from $120.00 to $140.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Oppenheimer raised their target price on Gilead Sciences from $115.00 to $132.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 4th. Finally, Bank of America raised their target price on Gilead Sciences from $116.00 to $126.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Eleven equities research 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $104.52.

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.