Golden State Equity Partners purchased a new stake in Gilead Sciences, Inc. (NASDAQ:GILD – Get Rating) in the 1st quarter, HoldingsChannel reports. The fund purchased 17,083 shares of the biopharmaceutical company’s stock, valued at approximately $1,104,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. abrdn plc increased its stake in Gilead Sciences by 2.4% in the 4th quarter. abrdn plc now owns 1,005,045 shares of the biopharmaceutical company’s stock valued at $72,976,000 after buying an additional 23,519 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Gilead Sciences by 46.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 260,655 shares of the biopharmaceutical company’s stock valued at $18,926,000 after acquiring an additional 82,245 shares in the last quarter. Nwam LLC increased its stake in shares of Gilead Sciences by 52.6% in the fourth quarter. Nwam LLC now owns 24,193 shares of the biopharmaceutical company’s stock worth $1,757,000 after acquiring an additional 8,340 shares during the last quarter. Legacy Wealth Asset Management LLC raised its holdings in shares of Gilead Sciences by 15.2% during the fourth quarter. Legacy Wealth Asset Management LLC now owns 12,294 shares of the biopharmaceutical company’s stock worth $893,000 after acquiring an additional 1,620 shares in the last quarter. Finally, Linscomb & Williams Inc. boosted its position in Gilead Sciences by 8.8% during the fourth quarter. Linscomb & Williams Inc. now owns 28,099 shares of the biopharmaceutical company’s stock valued at $2,040,000 after purchasing an additional 2,283 shares during the last quarter. Institutional investors and hedge funds own 78.58% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company raised their price target on Gilead Sciences from $63.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Cantor Fitzgerald initiated coverage on shares of Gilead Sciences in a research report on Tuesday, July 12th. They set a “neutral” rating and a $70.00 price objective on the stock. BMO Capital Markets assumed coverage on shares of Gilead Sciences in a research note on Tuesday, June 7th. They issued a “hold” rating and a $63.00 price objective for the company. SVB Leerink initiated coverage on shares of Gilead Sciences in a research report on Monday, May 23rd. They set a “market perform” rating and a $68.00 target price on the stock. Finally, Morgan Stanley boosted their price target on Gilead Sciences from $63.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Friday, July 15th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $73.47.
Gilead Sciences Trading Down 4.3 %
Gilead Sciences Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Thursday, September 15th will be paid a $0.73 dividend. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 4.49%. Gilead Sciences’s payout ratio is 89.02%.
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, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of coronavirus disease 2019; and Epclusa, Harvoni, Vosevi, Vemlidy, and Viread for the treatment of liver diseases.
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