Allstate Corp Acquires Shares of 37,048 Gilead Sciences, Inc. (NASDAQ:GILD)

Allstate Corp bought a new position in Gilead Sciences, Inc. (NASDAQ:GILD) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 37,048 shares of the biopharmaceutical company’s stock, valued at approximately $3,422,000.

A number of other institutional investors and hedge funds have also made changes to their positions in GILD. HHM Wealth Advisors LLC increased its position in 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 during the period. YANKCOM Partnership purchased a new stake in shares of Gilead Sciences in the fourth quarter valued at approximately $28,000. Decker Retirement Planning Inc. acquired a new position in Gilead Sciences during the fourth quarter worth $29,000. Crews Bank & Trust purchased a new position in Gilead Sciences in the fourth quarter worth $31,000. Finally, Stephens Consulting LLC lifted its holdings in Gilead Sciences by 325.0% in the fourth quarter. Stephens Consulting LLC now owns 340 shares of the biopharmaceutical company’s stock valued at $31,000 after acquiring an additional 260 shares during the period. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Gilead Sciences Price Performance

GILD opened at $111.79 on Friday. 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 quick ratio of 1.20 and a current ratio of 1.50. The company’s 50 day simple moving average is $105.48 and its 200 day simple moving average is $94.90. The stock has a market capitalization of $139.22 billion, a PE ratio of 302.14, a P/E/G ratio of 0.71 and a beta of 0.21.

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 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, sell-side analysts expect that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $0.79 dividend. This is a positive change from Gilead Sciences’s previous quarterly dividend of $0.77. This represents a $3.16 annualized dividend and a dividend yield of 2.83%. The ex-dividend date was Friday, March 14th. Gilead Sciences’s payout ratio is currently 854.05%.

Insider Transactions at Gilead Sciences

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $91.35, for a total transaction of $228,375.00. Following the completion of the sale, the chief financial officer now directly owns 129,873 shares in the company, valued at $11,863,898.55. The trade was a 1.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders sold 302,785 shares of company stock worth $30,503,250. 0.16% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Oppenheimer upped their price target on shares of Gilead Sciences from $115.00 to $132.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 4th. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a research report on Wednesday, February 12th. DZ Bank upgraded shares of Gilead Sciences from a “hold” rating to a “buy” rating and set a $108.00 price target for the company in a research report on Thursday, February 13th. The Goldman Sachs Group raised their price objective on Gilead Sciences from $85.00 to $96.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Finally, Piper Sandler boosted their target price on Gilead Sciences from $105.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Eleven equities research 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’s stock. According to MarketBeat, Gilead Sciences has a consensus rating of “Moderate Buy” and an average target price of $105.12.

Gilead Sciences 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.