Morgan Stanley Issues Positive Forecast for Gilead Sciences (NASDAQ:GILD) Stock Price

Gilead Sciences (NASDAQ:GILD) had its target price increased by Morgan Stanley from $123.00 to $130.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an overweight rating on the biopharmaceutical company’s stock.

Other analysts have also issued reports about the company. Piper Sandler raised their price target on Gilead Sciences from $105.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Bank of America raised their target price on shares of Gilead Sciences from $116.00 to $126.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $80.00 price target on shares of Gilead Sciences in a research report on Wednesday, December 11th. Wolfe Research initiated coverage on shares of Gilead Sciences in a report on Friday, November 15th. They issued an “outperform” rating and a $110.00 price target on the stock. Finally, Daiwa America raised shares of Gilead Sciences to a “hold” rating in a research note on Monday, November 18th. Eleven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $104.52.

Gilead Sciences Stock Performance

Shares of NASDAQ GILD opened at $114.43 on Tuesday. The company has a 50-day simple moving average of $100.56 and a 200-day simple moving average of $92.18. 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 company has a market cap of $142.50 billion, a PE ratio of 309.27, a price-to-earnings-growth ratio of 0.71 and a beta of 0.21. Gilead Sciences has a 12 month low of $62.07 and a 12 month high of $119.96.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.67 by $0.23. Gilead Sciences had a net margin of 1.67% and a return on equity of 31.63%. On average, equities analysts anticipate that Gilead Sciences will post 7.95 earnings per share for the current year.

Gilead Sciences Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Gilead Sciences’s previous quarterly dividend of $0.77. Gilead Sciences’s dividend payout ratio is 854.05%.

Insider Buying and Selling

In related news, CFO Andrew D. Dickinson sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $104.09, for a total transaction of $260,225.00. Following the sale, the chief financial officer now directly owns 169,061 shares of the company’s stock, valued at approximately $17,597,559.49. This represents a 1.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last three months, insiders sold 293,356 shares of company stock worth $29,166,240. Corporate insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GILD. Swedbank AB raised its position in shares of Gilead Sciences by 10.2% during the 3rd quarter. Swedbank AB now owns 2,047,609 shares of the biopharmaceutical company’s stock worth $171,672,000 after purchasing an additional 189,622 shares during the period. Legacy Capital Wealth Partners LLC bought a new position in Gilead Sciences during the 3rd quarter worth $245,000. Ashton Thomas Securities LLC acquired a new stake in Gilead Sciences in the third quarter worth $102,000. Catalytic Wealth RIA LLC bought a new stake in Gilead Sciences in the third quarter valued at $201,000. Finally, Addison Advisors LLC boosted its holdings in shares of Gilead Sciences by 42.8% during the third quarter. Addison Advisors LLC now owns 677 shares of the biopharmaceutical company’s stock valued at $57,000 after acquiring an additional 203 shares during the period. 83.67% of the stock is currently owned by institutional investors.

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.