Gilead Sciences (NASDAQ:GILD) Trading Up 2.5%

Shares of Gilead Sciences, Inc. (NASDAQ:GILD) shot up 2.5% on Wednesday . The stock traded as high as $78.94 and last traded at $78.93. 950,846 shares were traded during mid-day trading, a decline of 87% from the average session volume of 7,158,963 shares. The stock had previously closed at $77.00.

Analyst Upgrades and Downgrades

GILD has been the topic of several recent analyst reports. Truist Financial lifted their price objective on shares of Gilead Sciences from $82.00 to $83.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. BMO Capital Markets increased their price objective on shares of Gilead Sciences from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Raymond James raised Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 target price on the stock in a report on Monday, July 8th. Robert W. Baird reiterated a “neutral” rating and issued a $80.00 price target on shares of Gilead Sciences in a research report on Thursday, June 20th. Finally, Evercore ISI upgraded shares of Gilead Sciences to a “strong-buy” rating in a research report on Friday, August 9th. Twelve equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $81.94.

Gilead Sciences Trading Up 0.4 %

The company has a quick ratio of 0.94, a current ratio of 1.08 and a debt-to-equity ratio of 1.31. The company has a market capitalization of $99.41 billion, a PE ratio of 220.69, a price-to-earnings-growth ratio of 3.37 and a beta of 0.18. The stock’s 50 day moving average is $72.71 and its two-hundred day moving average is $70.25.

Gilead Sciences Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 3.86%. The ex-dividend date is Friday, September 13th. Gilead Sciences’s payout ratio is 855.56%.

Insider Buying and Selling at Gilead Sciences

In related news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $68.63, for a total transaction of $137,260.00. Following the sale, the insider now owns 96,380 shares of the company’s stock, valued at $6,614,559.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $68.63, for a total transaction of $137,260.00. Following the completion of the sale, the insider now owns 96,380 shares of the company’s stock, valued at $6,614,559.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Johanna Mercier sold 5,490 shares of Gilead Sciences stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total transaction of $406,150.20. Following the completion of the transaction, the insider now directly owns 114,979 shares in the company, valued at $8,506,146.42. The disclosure for this sale can be found here. Insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Gilead Sciences

Several institutional investors have recently added to or reduced their stakes in the business. Manning & Napier Advisors LLC purchased a new stake in Gilead Sciences in the second quarter valued at approximately $25,328,000. Charles Schwab Investment Management Inc. lifted its stake in Gilead Sciences by 1.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,281,489 shares of the biopharmaceutical company’s stock valued at $589,873,000 after buying an additional 87,482 shares in the last quarter. Eagle Asset Management Inc. increased its position in shares of Gilead Sciences by 23.6% during the fourth quarter. Eagle Asset Management Inc. now owns 317,539 shares of the biopharmaceutical company’s stock worth $25,724,000 after purchasing an additional 60,697 shares in the last quarter. ARGA Investment Management LP raised its position in shares of Gilead Sciences by 6.2% in the fourth quarter. ARGA Investment Management LP now owns 635,058 shares of the biopharmaceutical company’s stock valued at $51,446,000 after buying an additional 37,069 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new position in Gilead Sciences in the 1st quarter worth approximately $462,000. Institutional investors and hedge funds own 83.67% of the company’s stock.

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.