Truist Financial Issues Positive Forecast for Gilead Sciences (NASDAQ:GILD) Stock Price

Gilead Sciences (NASDAQ:GILD) had its price objective upped by Truist Financial from $83.00 to $97.00 in a research note released on Friday,Benzinga reports. The brokerage currently has a hold rating on the biopharmaceutical company’s stock.

Other equities analysts have also issued reports about the company. Piper Sandler raised their target price on Gilead Sciences from $95.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday. The Goldman Sachs Group boosted their target price on Gilead Sciences from $74.00 to $84.00 and gave the stock a “neutral” rating in a report on Thursday. Maxim Group cut shares of Gilead Sciences from a “buy” rating to a “hold” rating in a research note on Friday. Barclays lifted their target price on shares of Gilead Sciences from $84.00 to $95.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, Cantor Fitzgerald raised their price target on Gilead Sciences from $70.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday. Twelve investment analysts have rated the stock with a hold rating, ten have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.71.

Gilead Sciences Stock Down 1.4 %

GILD stock traded down $1.34 during mid-day trading on Friday, hitting $96.57. The stock had a trading volume of 7,457,030 shares, compared to its average volume of 5,289,753. The stock has a market capitalization of $120.22 billion, a price-to-earnings ratio of 1,072.94, a PEG ratio of 3.19 and a beta of 0.17. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 1.18. Gilead Sciences has a 1-year low of $62.07 and a 1-year high of $98.32. The company has a fifty day moving average of $85.30 and a 200 day moving average of $75.03.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.44. Gilead Sciences had a net margin of 0.45% and a return on equity of 28.60%. The firm had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.01 billion. During the same period in the previous year, the company earned $2.29 earnings per share. The company’s revenue was up 7.0% compared to the same quarter last year. On average, equities analysts expect that Gilead Sciences will post 3.76 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be paid a $0.77 dividend. The ex-dividend date is Friday, December 13th. This represents a $3.08 dividend on an annualized basis and a yield of 3.19%. Gilead Sciences’s payout ratio is currently 3,422.22%.

Insiders Place Their Bets

In related news, insider Johanna Mercier sold 5,490 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total value of $406,150.20. Following the sale, the insider now owns 114,979 shares of the company’s stock, valued at $8,506,146.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Gilead Sciences news, insider Johanna Mercier sold 5,490 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total value of $406,150.20. Following the completion of the transaction, the insider now directly owns 114,979 shares of the company’s stock, valued at approximately $8,506,146.42. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Merdad Parsey sold 25,590 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the sale, the insider now directly owns 99,599 shares in the company, valued at $9,113,308.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 62,437 shares of company stock worth $5,374,825 over the last quarter. Company insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Gilead Sciences

Several hedge funds have recently added to or reduced their stakes in GILD. CarsonAllaria Wealth Management Ltd. lifted its position in Gilead Sciences by 198.3% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 238 shares during the period. nVerses Capital LLC acquired a new position in Gilead Sciences in the third quarter valued at approximately $25,000. Valued Wealth Advisors LLC boosted its stake in Gilead Sciences by 101.9% in the third quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 161 shares during the last quarter. Cedar Wealth Management LLC raised its position in shares of Gilead Sciences by 51.6% during the 2nd quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 160 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Gilead Sciences in the 2nd quarter valued at $33,000. Institutional investors own 83.67% of the company’s stock.

Gilead Sciences Company 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.