Truist Financial Raises Gilead Sciences (NASDAQ:GILD) Price Target to $83.00

Gilead Sciences (NASDAQ:GILD) had its price objective boosted by Truist Financial from $82.00 to $83.00 in a research note issued to investors on Thursday morning, Benzinga reports. Truist Financial currently has a hold rating on the biopharmaceutical company’s stock.

Other equities research analysts have also recently issued reports about the stock. Cantor Fitzgerald reiterated a neutral rating and issued a $70.00 target price on shares of Gilead Sciences in a research report on Friday, August 9th. HSBC raised shares of Gilead Sciences from a reduce rating to a hold rating and set a $69.00 target price on the stock in a research note on Wednesday, April 24th. Raymond James upgraded Gilead Sciences from a market perform rating to an outperform rating and set a $93.00 price target for the company in a research report on Monday, July 8th. BMO Capital Markets lifted their price objective on Gilead Sciences from $80.00 to $85.00 and gave the stock an outperform rating in a research report on Friday, August 9th. Finally, Barclays dropped their target price on Gilead Sciences from $80.00 to $76.00 and set an equal weight rating for the company in a report on Monday, April 29th. Twelve equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $81.94.

Gilead Sciences Stock Down 0.8 %

NASDAQ GILD opened at $73.78 on Thursday. The business has a fifty day moving average price of $70.80 and a 200 day moving average price of $70.20. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.94 and a current ratio of 1.08. The company has a market cap of $91.92 billion, a P/E ratio of 204.94, a P/E/G ratio of 3.37 and a beta of 0.18. Gilead Sciences has a one year low of $62.07 and a one year high of $87.86.

Gilead Sciences Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a $0.77 dividend. The ex-dividend date is Friday, September 13th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.17%. Gilead Sciences’s payout ratio is presently 855.56%.

Insider Activity at Gilead Sciences

In related news, insider Johanna Mercier sold 5,490 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total transaction of $406,150.20. Following the completion of the transaction, the insider now directly owns 114,979 shares in the company, valued at approximately $8,506,146.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Johanna Mercier sold 5,490 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $68.63, for a total transaction of $137,260.00. Following the completion of the transaction, the insider now directly owns 96,380 shares of the company’s stock, valued at approximately $6,614,559.40. The disclosure for this sale can be found here. Company insiders own 0.16% of the company’s stock.

Institutional Trading of Gilead Sciences

A number of large investors have recently modified their holdings of the stock. Quarry LP purchased a new stake in Gilead Sciences during the 2nd quarter worth about $43,000. Sunbelt Securities Inc. increased its stake in shares of Gilead Sciences by 35.1% during the second quarter. Sunbelt Securities Inc. now owns 15,678 shares of the biopharmaceutical company’s stock worth $1,076,000 after buying an additional 4,075 shares during the period. Magnolia Capital Advisors LLC purchased a new stake in shares of Gilead Sciences during the second quarter worth approximately $461,000. Creative Planning raised its holdings in Gilead Sciences by 8.4% in the second quarter. Creative Planning now owns 188,594 shares of the biopharmaceutical company’s stock valued at $12,939,000 after acquiring an additional 14,544 shares in the last quarter. Finally, Doheny Asset Management CA purchased a new position in Gilead Sciences in the second quarter worth approximately $2,688,000. Hedge funds and other 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.