Pictet Asset Management Holding SA Has $296.75 Million Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Pictet Asset Management Holding SA cut its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 24.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,212,654 shares of the biopharmaceutical company’s stock after selling 1,048,709 shares during the quarter. Pictet Asset Management Holding SA owned 0.26% of Gilead Sciences worth $296,753,000 at the end of the most recent quarter.

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

Gilead Sciences Stock Up 1.7 %

Shares of Gilead Sciences stock opened at $111.16 on Friday. The company has a market capitalization of $138.43 billion, a P/E ratio of 300.43, a price-to-earnings-growth 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 current ratio of 1.50 and a quick ratio of 1.20. The business has a 50-day moving average of $105.08 and a two-hundred day moving average of $94.58.

Gilead Sciences (NASDAQ:GILD) last posted 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 return on equity of 31.63% and a net margin of 1.67%. As a group, equities analysts predict that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be 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 yield of 2.84%. The ex-dividend date of this dividend is Friday, March 14th. Gilead Sciences’s payout ratio is presently 854.05%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on GILD. The Goldman Sachs Group raised their price target on shares of Gilead Sciences from $85.00 to $96.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Bank of America boosted their price target on Gilead Sciences from $116.00 to $126.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. DZ Bank upgraded Gilead Sciences from a “hold” rating to a “buy” rating and set a $108.00 price objective for the company in a research note on Thursday, February 13th. Morgan Stanley lifted their price objective on Gilead Sciences from $123.00 to $130.00 and gave the company an “overweight” rating in a report on Tuesday, March 11th. Finally, Piper Sandler increased their target price on shares of Gilead Sciences from $105.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Eleven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, Gilead Sciences presently has an average rating of “Moderate Buy” and a consensus target price of $105.12.

Insider Transactions at Gilead Sciences

In related news, CFO Andrew D. Dickinson sold 142,180 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $97.22, for a total value of $13,822,739.60. Following the sale, the chief financial officer now owns 129,873 shares in the company, valued at approximately $12,626,253.06. This represents a 52.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 302,785 shares of company stock worth $30,503,250 in the last three months. Insiders own 0.16% of the company’s stock.

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.