Summit Securities Group LLC Increases Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Summit Securities Group LLC lifted its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 942.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,897 shares of the biopharmaceutical company’s stock after purchasing an additional 19,797 shares during the quarter. Gilead Sciences comprises approximately 0.4% of Summit Securities Group LLC’s investment portfolio, making the stock its 28th biggest position. Summit Securities Group LLC’s holdings in Gilead Sciences were worth $2,023,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Southland Equity Partners LLC raised its position in shares of Gilead Sciences by 3.6% during the 4th quarter. Southland Equity Partners LLC now owns 3,128 shares of the biopharmaceutical company’s stock worth $289,000 after acquiring an additional 110 shares in the last quarter. Berkshire Bank grew its position in Gilead Sciences by 3.4% in the 4th quarter. Berkshire Bank now owns 3,398 shares of the biopharmaceutical company’s stock valued at $314,000 after buying an additional 111 shares during the last quarter. CFO4Life Group LLC grew its position in Gilead Sciences by 2.7% in the 4th quarter. CFO4Life Group LLC now owns 4,265 shares of the biopharmaceutical company’s stock valued at $394,000 after buying an additional 112 shares during the last quarter. Howe & Rusling Inc. raised its position in Gilead Sciences by 2.5% during the 4th quarter. Howe & Rusling Inc. now owns 4,704 shares of the biopharmaceutical company’s stock worth $435,000 after buying an additional 115 shares during the last quarter. Finally, GHP Investment Advisors Inc. lifted its stake in shares of Gilead Sciences by 1.1% in the 4th quarter. GHP Investment Advisors Inc. now owns 11,354 shares of the biopharmaceutical company’s stock worth $1,049,000 after acquiring an additional 122 shares during the period. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Gilead Sciences Stock Up 0.6 %

Shares of NASDAQ:GILD opened at $111.79 on Friday. The stock has a 50-day simple moving average of $105.48 and a 200-day simple moving average of $94.90. The stock has a market capitalization of $139.22 billion, a P/E ratio of 302.14, a PEG ratio of 0.71 and a beta of 0.21. 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.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share (EPS) for the quarter, topping 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%. Equities analysts forecast that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from Gilead Sciences’s previous quarterly dividend of $0.77. Gilead Sciences’s payout ratio is currently 854.05%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on GILD. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a report on Wednesday, February 12th. Royal Bank of Canada raised their price target on Gilead Sciences from $84.00 to $90.00 and gave the company a “sector perform” rating in a report on Wednesday, February 12th. BMO Capital Markets increased their price objective on Gilead Sciences from $110.00 to $115.00 and gave the stock an “outperform” rating 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 target price on the stock in a research report on Thursday, February 13th. Finally, Morgan Stanley increased 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 equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $105.12.

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 on Wednesday, January 15th. The shares were sold at an average price of $91.35, for a total value of $228,375.00. Following the transaction, the chief financial officer now owns 129,873 shares in the company, valued at $11,863,898.55. The trade was a 1.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold 302,785 shares of company stock valued at $30,503,250 over the last quarter. Company insiders own 0.16% 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.