Gilead Sciences (NASDAQ:GILD) Given New $96.00 Price Target at The Goldman Sachs Group

Gilead Sciences (NASDAQ:GILD) had its price objective increased by The Goldman Sachs Group from $85.00 to $96.00 in a research note published on Wednesday morning,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the biopharmaceutical company’s stock.

A number of other analysts have also commented on GILD. Cantor Fitzgerald reiterated a “neutral” rating and set a $80.00 price target on shares of Gilead Sciences in a report on Wednesday, December 11th. Leerink Partners raised Gilead Sciences from a “market perform” rating to an “outperform” rating and upped their price target for the company from $74.00 to $96.00 in a research report on Monday, October 21st. Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a research note on Wednesday. Wolfe Research began coverage on shares of Gilead Sciences in a report on Friday, November 15th. They set an “outperform” rating and a $110.00 price objective on the stock. Finally, Citigroup began coverage on shares of Gilead Sciences in a research note on Thursday, November 14th. They issued a “buy” rating and a $125.00 target price for the company. Eleven analysts have rated the stock with a hold rating, fourteen have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $101.33.

Gilead Sciences Stock Performance

NASDAQ GILD opened at $103.31 on Wednesday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.26 and a quick ratio of 1.10. The company has a fifty day moving average price of $93.14 and a 200-day moving average price of $87.12. Gilead Sciences has a 1 year low of $62.07 and a 1 year high of $104.71. The firm has a market cap of $128.75 billion, a price-to-earnings ratio of 1,147.89, a PEG ratio of 1.25 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.67 by $0.23. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. As a group, equities research analysts predict that Gilead Sciences will post 4.35 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 paid a $0.79 dividend. This is a boost from Gilead Sciences’s previous quarterly dividend of $0.77. The ex-dividend date is Friday, March 14th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 3.06%. Gilead Sciences’s dividend payout ratio is 3,422.22%.

Insider Buying and Selling

In related news, insider Merdad Parsey sold 164,211 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $91.92, for a total transaction of $15,094,275.12. Following the transaction, the insider now directly owns 80,801 shares in the company, valued at $7,427,227.92. This trade represents a 67.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $228,375.00. Following the completion of the sale, the chief financial officer now owns 129,873 shares of the company’s stock, valued at $11,863,898.55. The trade was a 1.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 572,824 shares of company stock worth $53,611,715 in the last 90 days. 0.16% of the stock is owned by company insiders.

Institutional Investors Weigh In On Gilead Sciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nicolet Advisory Services LLC raised its stake in shares of Gilead Sciences by 2.9% during the fourth quarter. Nicolet Advisory Services LLC now owns 3,580 shares of the biopharmaceutical company’s stock valued at $322,000 after acquiring an additional 100 shares during the last quarter. Avior Wealth Management LLC increased its holdings in Gilead Sciences by 1.2% during the 3rd quarter. Avior Wealth Management LLC now owns 9,422 shares of the biopharmaceutical company’s stock valued at $782,000 after purchasing an additional 108 shares during the period. Southland Equity Partners LLC raised its position in Gilead Sciences by 3.6% during the 4th quarter. Southland Equity Partners LLC now owns 3,128 shares of the biopharmaceutical company’s stock valued at $289,000 after purchasing an additional 110 shares during the last quarter. Concord Asset Management LLC VA lifted its holdings in Gilead Sciences by 3.8% in the 3rd quarter. Concord Asset Management LLC VA now owns 3,056 shares of the biopharmaceutical company’s stock worth $256,000 after buying an additional 111 shares during the period. Finally, Berkshire Bank grew its position in shares of Gilead Sciences by 3.4% in the 4th quarter. Berkshire Bank now owns 3,398 shares of the biopharmaceutical company’s stock worth $314,000 after buying an additional 111 shares during the last quarter. 83.67% of the stock is currently owned by institutional investors.

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.