Gilead Sciences (NASDAQ:GILD) Price Target Raised to $85.00 at BMO Capital Markets

Gilead Sciences (NASDAQ:GILD) had its price target increased by BMO Capital Markets from $80.00 to $85.00 in a research report report published on Friday morning, Benzinga reports. BMO Capital Markets currently has an outperform rating on the biopharmaceutical company’s stock.

Several other research firms have also issued reports on GILD. Needham & Company LLC restated a hold rating on shares of Gilead Sciences in a research report on Friday, April 26th. Oppenheimer restated an outperform rating and set a $105.00 target price on shares of Gilead Sciences in a report on Friday, April 19th. HSBC upgraded Gilead Sciences from a reduce rating to a hold rating and set a $69.00 target price for the company in a research report on Wednesday, April 24th. Robert W. Baird reiterated a neutral rating and issued a $80.00 price target on shares of Gilead Sciences in a research report on Thursday, June 20th. Finally, Cantor Fitzgerald decreased their price objective on shares of Gilead Sciences from $75.00 to $70.00 and set a neutral rating for the company in a report on Monday, July 22nd. Twelve analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $81.88.

Gilead Sciences Trading Down 0.9 %

Shares of NASDAQ GILD opened at $72.99 on Friday. Gilead Sciences has a fifty-two week low of $62.07 and a fifty-two week high of $87.86. The firm has a market capitalization of $90.93 billion, a P/E ratio of 202.75, a P/E/G ratio of 3.37 and a beta of 0.18. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.08 and a quick ratio of 0.94. The company’s 50 day simple moving average is $70.00 and its 200 day simple moving average is $70.34.

Gilead Sciences Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 4.22%. The ex-dividend date of this dividend is Friday, September 13th. Gilead Sciences’s dividend payout ratio is 855.56%.

Insider Activity

In related news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction dated Monday, July 1st. The stock was 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 in the company, valued at $6,614,559.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in GILD. Financial Counselors Inc. lifted its position in Gilead Sciences by 1.5% during the 4th quarter. Financial Counselors Inc. now owns 8,862 shares of the biopharmaceutical company’s stock worth $718,000 after buying an additional 128 shares in the last quarter. Steph & Co. boosted its position in Gilead Sciences by 1.9% during the fourth quarter. Steph & Co. now owns 7,548 shares of the biopharmaceutical company’s stock valued at $611,000 after purchasing an additional 142 shares during the last quarter. Institute for Wealth Management LLC. grew its stake in Gilead Sciences by 1.9% in the second quarter. Institute for Wealth Management LLC. now owns 7,551 shares of the biopharmaceutical company’s stock valued at $518,000 after purchasing an additional 142 shares in the last quarter. First Affirmative Financial Network increased its position in shares of Gilead Sciences by 3.5% during the 1st quarter. First Affirmative Financial Network now owns 4,342 shares of the biopharmaceutical company’s stock worth $318,000 after purchasing an additional 147 shares during the last quarter. Finally, Rathbones Group PLC raised its stake in shares of Gilead Sciences by 3.7% during the 4th quarter. Rathbones Group PLC now owns 4,185 shares of the biopharmaceutical company’s stock worth $339,000 after purchasing an additional 150 shares in the last quarter. Institutional investors and hedge funds own 83.67% of the company’s stock.

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, 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.