Strategic Financial Concepts LLC Takes $6.64 Million Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Strategic Financial Concepts LLC bought a new position in Gilead Sciences, Inc. (NASDAQ:GILD) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 71,883 shares of the biopharmaceutical company’s stock, valued at approximately $6,640,000.

Several other hedge funds have also added to or reduced their stakes in GILD. Bellevue Group AG lifted its stake in shares of Gilead Sciences by 18.2% in the 3rd quarter. Bellevue Group AG now owns 46,027 shares of the biopharmaceutical company’s stock valued at $3,859,000 after acquiring an additional 7,093 shares during the last quarter. Quantinno Capital Management LP increased its stake in Gilead Sciences by 149.5% in the 3rd quarter. Quantinno Capital Management LP now owns 81,620 shares of the biopharmaceutical company’s stock worth $6,843,000 after purchasing an additional 48,910 shares during the period. McAdam LLC lifted its position in Gilead Sciences by 16.7% in the fourth quarter. McAdam LLC now owns 25,372 shares of the biopharmaceutical company’s stock valued at $2,344,000 after purchasing an additional 3,627 shares during the last quarter. IRON Financial LLC purchased a new stake in shares of Gilead Sciences during the third quarter valued at approximately $830,000. Finally, Capital Investment Advisors LLC increased its stake in shares of Gilead Sciences by 2.6% in the fourth quarter. Capital Investment Advisors LLC now owns 387,492 shares of the biopharmaceutical company’s stock worth $35,793,000 after buying an additional 9,791 shares during the period. 83.67% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 248,645 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $92.76, for a total value of $23,064,310.20. Following the completion of the transaction, the chief financial officer now directly owns 138,919 shares in the company, valued at $12,886,126.44. This represents a 64.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Merdad Parsey sold 164,211 shares of Gilead Sciences stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $91.92, for a total transaction of $15,094,275.12. Following the sale, the insider now owns 80,801 shares in the company, valued at approximately $7,427,227.92. The trade was a 67.02 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 710,500 shares of company stock worth $67,684,956. Corporate insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on GILD shares. UBS Group increased their price target on shares of Gilead Sciences from $70.00 to $96.00 and gave the company a “neutral” rating in a research report on Thursday, November 21st. Barclays raised their target price on Gilead Sciences from $84.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. Citigroup assumed coverage on Gilead Sciences in a research report on Thursday, November 14th. They set a “buy” rating and a $125.00 price target for the company. BMO Capital Markets boosted their target price on Gilead Sciences from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Robert W. Baird raised their price target on Gilead Sciences from $80.00 to $95.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Eleven investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $101.33.

Gilead Sciences Stock Performance

NASDAQ:GILD opened at $104.08 on Friday. The stock has a 50-day simple moving average of $93.87 and a two-hundred day simple moving average of $87.55. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.10 and a current ratio of 1.26. Gilead Sciences, Inc. has a 52-week low of $62.07 and a 52-week high of $106.69. The firm has a market capitalization of $129.71 billion, a PE ratio of 1,156.44, a P/E/G ratio of 1.25 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data 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 29.00% and a net margin of 0.45%. Analysts forecast that Gilead Sciences, Inc. will post 4.35 EPS for the current year.

Gilead Sciences Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a $0.79 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.16 annualized dividend and a yield of 3.04%. This is an increase from Gilead Sciences’s previous quarterly dividend of $0.77. Gilead Sciences’s dividend payout ratio is currently 3,422.22%.

About Gilead Sciences

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.