Envestnet Portfolio Solutions Inc. Raises Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Envestnet Portfolio Solutions Inc. grew its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 6.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 111,772 shares of the biopharmaceutical company’s stock after acquiring an additional 6,815 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Gilead Sciences were worth $10,324,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Choate Investment Advisors raised its holdings in shares of Gilead Sciences by 3.8% in the 4th quarter. Choate Investment Advisors now owns 9,722 shares of the biopharmaceutical company’s stock valued at $898,000 after purchasing an additional 353 shares in the last quarter. Globeflex Capital L P raised its holdings in shares of Gilead Sciences by 90.2% in the 4th quarter. Globeflex Capital L P now owns 404,605 shares of the biopharmaceutical company’s stock valued at $37,373,000 after purchasing an additional 191,901 shares in the last quarter. Natixis Advisors LLC raised its holdings in shares of Gilead Sciences by 97.6% in the 4th quarter. Natixis Advisors LLC now owns 334,737 shares of the biopharmaceutical company’s stock valued at $30,920,000 after purchasing an additional 165,374 shares in the last quarter. Frank Rimerman Advisors LLC raised its holdings in shares of Gilead Sciences by 0.7% in the 4th quarter. Frank Rimerman Advisors LLC now owns 32,318 shares of the biopharmaceutical company’s stock valued at $2,985,000 after purchasing an additional 232 shares in the last quarter. Finally, Poinciana Advisors Group LLC acquired a new stake in shares of Gilead Sciences in the 4th quarter valued at $297,000. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Andrew D. Dickinson sold 142,180 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $97.22, for a total transaction of $13,822,739.60. Following the completion of the transaction, the chief financial officer now owns 129,873 shares of the company’s stock, valued at approximately $12,626,253.06. This represents a 52.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 302,785 shares of company stock valued at $30,503,250 over the last 90 days. Insiders own 0.16% of the company’s stock.

Gilead Sciences Stock Performance

Shares of GILD opened at $111.44 on Monday. The company has a 50-day moving average of $101.82 and a two-hundred day moving average of $92.92. The company has a current ratio of 1.50, a quick ratio of 1.20 and a debt-to-equity ratio of 1.24. The stock has a market cap of $138.78 billion, a P/E ratio of 301.19, a PEG ratio of 0.71 and a beta of 0.21. Gilead Sciences, Inc. has a 12-month low of $62.07 and a 12-month high of $119.96.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates 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, research analysts predict that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.

Gilead Sciences Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Gilead Sciences’s previous quarterly dividend of $0.77. Gilead Sciences’s payout ratio is currently 854.05%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GILD. Mizuho raised their price objective on shares of Gilead Sciences from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a research note on Wednesday, February 12th. 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. Wells Fargo & Company lifted their target price on shares of Gilead Sciences from $120.00 to $140.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Finally, Daiwa America raised shares of Gilead Sciences to a “hold” rating in a report on Monday, November 18th. Eleven analysts have rated the stock with a hold rating, fifteen have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $104.52.

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.