Penobscot Investment Management Company Inc. Has $296,000 Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Penobscot Investment Management Company Inc. boosted its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 18.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,200 shares of the biopharmaceutical company’s stock after acquiring an additional 500 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Gilead Sciences were worth $296,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. HHM Wealth Advisors LLC increased its position in shares of Gilead Sciences by 118.5% during the 4th quarter. HHM Wealth Advisors LLC now owns 284 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 154 shares in the last quarter. YANKCOM Partnership bought a new stake in Gilead Sciences during the fourth quarter worth about $28,000. Decker Retirement Planning Inc. acquired a new stake in shares of Gilead Sciences during the fourth quarter worth approximately $29,000. Crews Bank & Trust acquired a new position in shares of Gilead Sciences in the 4th quarter worth approximately $31,000. Finally, Stephens Consulting LLC boosted its holdings in shares of Gilead Sciences by 325.0% in the 4th quarter. Stephens Consulting LLC now owns 340 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 260 shares in the last quarter. 83.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GILD has been the subject of several research analyst reports. Wells Fargo & Company lifted their price objective on Gilead Sciences from $120.00 to $140.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a research report on Wednesday, February 12th. Piper Sandler boosted their target price on shares of Gilead Sciences from $105.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. DZ Bank upgraded shares of Gilead Sciences from a “hold” rating to a “buy” rating and set a $108.00 target price on the stock in a research report on Thursday, February 13th. Finally, Morgan Stanley raised their price target on shares of Gilead Sciences from $123.00 to $130.00 and gave the company an “overweight” rating in a report on Tuesday, March 11th. Eleven analysts have rated the stock with a hold rating, fifteen have given a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $104.52.

Gilead Sciences Trading Up 1.3 %

GILD opened at $109.27 on Thursday. The stock has a market capitalization of $136.08 billion, a P/E ratio of 295.32, a P/E/G ratio of 0.71 and a beta of 0.21. The company has a current ratio of 1.50, a quick ratio of 1.20 and a debt-to-equity ratio of 1.24. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $119.96. The firm’s fifty day simple moving average is $104.69 and its 200 day simple moving average is $94.46.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 EPS for the quarter, beating analysts’ consensus estimates 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, research analysts anticipate that Gilead Sciences, Inc. will post 7.95 EPS 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. Stockholders 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 is an increase 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 2.89%. Gilead Sciences’s dividend payout ratio (DPR) is 854.05%.

Insider Transactions at Gilead Sciences

In related news, CFO Andrew D. Dickinson sold 2,500 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $91.35, for a total transaction of $228,375.00. Following the sale, the chief financial officer now owns 129,873 shares in the company, valued at approximately $11,863,898.55. This represents a 1.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 302,785 shares of company stock valued at $30,503,250 over the last 90 days. 0.16% of the stock is owned by corporate insiders.

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.