Independent Advisor Alliance Has $461,000 Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Independent Advisor Alliance raised its position in Gilead Sciences, Inc. (NASDAQ:GILDGet Rating) by 4.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,759 shares of the biopharmaceutical company’s stock after purchasing an additional 357 shares during the quarter. Independent Advisor Alliance’s holdings in Gilead Sciences were worth $461,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp raised its stake in shares of Gilead Sciences by 4.0% in the 4th quarter. State Street Corp now owns 57,369,269 shares of the biopharmaceutical company’s stock valued at $4,165,583,000 after purchasing an additional 2,187,144 shares during the period. Capital World Investors raised its stake in shares of Gilead Sciences by 15.4% in the 4th quarter. Capital World Investors now owns 42,681,624 shares of the biopharmaceutical company’s stock valued at $3,099,157,000 after purchasing an additional 5,705,315 shares during the period. Geode Capital Management LLC raised its stake in shares of Gilead Sciences by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 22,739,179 shares of the biopharmaceutical company’s stock valued at $1,647,123,000 after purchasing an additional 440,695 shares during the period. Northern Trust Corp increased its position in shares of Gilead Sciences by 0.4% in the fourth quarter. Northern Trust Corp now owns 14,538,441 shares of the biopharmaceutical company’s stock valued at $1,055,636,000 after acquiring an additional 60,475 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Gilead Sciences in the fourth quarter valued at about $950,911,000. Institutional investors and hedge funds own 80.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. SVB Leerink assumed coverage on Gilead Sciences in a research report on Monday, May 23rd. They issued a “market perform” rating and a $68.00 target price on the stock. BMO Capital Markets began coverage on Gilead Sciences in a report on Tuesday, June 7th. They set a “hold” rating and a $63.00 price target for the company. Morgan Stanley lifted their price target on Gilead Sciences from $63.00 to $65.00 and gave the stock an “equal weight” rating in a report on Friday, July 15th. StockNews.com cut Gilead Sciences from a “strong-buy” rating to a “buy” rating in a report on Thursday. Finally, Piper Sandler reduced their price target on Gilead Sciences from $73.00 to $69.00 and set a “neutral” rating for the company in a report on Monday, May 16th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $72.07.

Gilead Sciences Trading Down 1.3 %

Shares of NASDAQ:GILD opened at $61.09 on Friday. Gilead Sciences, Inc. has a 12-month low of $57.17 and a 12-month high of $74.12. The stock has a market cap of $76.63 billion, a PE ratio of 18.63, a P/E/G ratio of 0.64 and a beta of 0.34. The business has a 50 day moving average of $61.55 and a 200-day moving average of $61.93. The company has a quick ratio of 1.30, a current ratio of 1.49 and a debt-to-equity ratio of 1.31.

Gilead Sciences Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th will be issued a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date of this dividend is Wednesday, September 14th. Gilead Sciences’s dividend payout ratio is presently 89.02%.

About Gilead Sciences

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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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Institutional Ownership by Quarter for Gilead Sciences (NASDAQ:GILD)

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