Tocqueville Asset Management L.P. Has $6.95 Million Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Tocqueville Asset Management L.P. cut its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 0.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). 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 quarter.

Other hedge funds have also added to or reduced their stakes in the company. FMR LLC lifted its position in shares of Gilead Sciences by 79.4% in the 3rd quarter. FMR LLC now owns 33,162,319 shares of the biopharmaceutical company’s stock worth $2,780,329,000 after purchasing an additional 14,680,161 shares during the period. Wellington Management Group LLP lifted its position in shares of Gilead Sciences by 50.9% in 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 purchasing an additional 11,665,593 shares during the period. Pacer Advisors Inc. lifted its position in shares of Gilead Sciences by 723.3% in the 4th quarter. Pacer Advisors Inc. now owns 6,434,665 shares of the biopharmaceutical company’s stock worth $594,370,000 after purchasing an additional 5,653,075 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Gilead Sciences in the 4th quarter worth approximately $207,340,000. Finally, Point72 Asset Management L.P. lifted its position in shares of Gilead Sciences by 350.1% in 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 purchasing an additional 1,793,145 shares during the period. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Gilead Sciences

In other news, CFO Andrew D. Dickinson sold 142,180 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $97.22, for a total transaction of $13,822,739.60. Following the sale, the chief financial officer now directly owns 129,873 shares in the company, valued at $12,626,253.06. This represents a 52.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders have sold a total of 302,785 shares of company stock valued at $30,503,250 over the last three months. 0.29% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

GILD has been the topic of a number of recent analyst reports. Cantor Fitzgerald restated a “neutral” rating and issued a $80.00 price target on shares of Gilead Sciences in a research report on Wednesday, December 11th. UBS Group lifted their price objective on shares of Gilead Sciences from $70.00 to $96.00 and gave the company a “neutral” rating in a research note on Thursday, November 21st. Morgan Stanley lifted their price objective on shares of Gilead Sciences from $123.00 to $130.00 and gave the company an “overweight” rating in a research note on Tuesday, March 11th. Wells Fargo & Company lifted their price objective on shares of Gilead Sciences from $120.00 to $140.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Finally, Bank of America lifted their price objective 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. Eleven investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $104.52.

Gilead Sciences Price Performance

GILD opened at $110.23 on Wednesday. The company has a market capitalization of $137.27 billion, a price-to-earnings ratio of 297.92, a P/E/G ratio of 0.71 and a beta of 0.21. 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 firm’s fifty day moving average price is $102.63 and its two-hundred day moving average price is $93.38.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.67 by $0.23. Gilead Sciences had a net margin of 1.67% and a return on equity of 31.63%. As a group, analysts anticipate that Gilead Sciences, Inc. will post 7.95 earnings per share 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. Shareholders of record on Friday, March 14th will be issued a dividend of $0.79 per share. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Gilead Sciences’s previous quarterly dividend of $0.77. This represents a $3.16 annualized dividend and a yield of 2.87%. Gilead Sciences’s dividend payout ratio is 854.05%.

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.