Gilead Sciences (NASDAQ:GILD) Given New $74.00 Price Target at Wells Fargo & Company

Gilead Sciences (NASDAQ:GILDGet Rating) had its price target boosted by Wells Fargo & Company from $63.00 to $74.00 in a report published on Tuesday morning, The Fly reports. They currently have an equal weight rating on the biopharmaceutical company’s stock.

GILD has been the topic of several other research reports. StockNews.com lowered shares of Gilead Sciences from a strong-buy rating to a buy rating in a research report on Wednesday, August 17th. Cantor Fitzgerald started coverage on shares of Gilead Sciences in a report on Tuesday, July 12th. They set a neutral rating and a $70.00 target price on the stock. Morgan Stanley upped their target price on shares of Gilead Sciences from $63.00 to $65.00 and gave the stock an equal weight rating in a report on Friday, July 15th. SVB Leerink started coverage on shares of Gilead Sciences in a report on Monday, May 23rd. They set a market perform rating and a $68.00 target price on the stock. Finally, Piper Sandler upped their target price on shares of Gilead Sciences from $74.00 to $79.00 in a report on Monday. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $73.47.

Gilead Sciences Stock Performance

NASDAQ GILD opened at $65.10 on Tuesday. The company’s 50 day moving average is $62.90 and its 200-day moving average is $61.84. Gilead Sciences has a 12-month low of $57.17 and a 12-month high of $74.12. The company has a quick ratio of 1.27, a current ratio of 1.43 and a debt-to-equity ratio of 1.30. The firm has a market cap of $81.59 billion, a P/E ratio of 19.85, a price-to-earnings-growth ratio of 0.67 and a beta of 0.31.

Gilead Sciences Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders 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 dividend payout ratio (DPR) is 89.02%.

Institutional Investors Weigh In On Gilead Sciences

Institutional investors have recently made changes to their positions in the business. BlackRock Inc. boosted its position in Gilead Sciences by 2.3% during the 1st quarter. BlackRock Inc. now owns 121,709,365 shares of the biopharmaceutical company’s stock valued at $7,235,622,000 after buying an additional 2,748,159 shares during the period. State Street Corp boosted its position in Gilead Sciences by 1.0% during the 1st quarter. State Street Corp now owns 57,970,959 shares of the biopharmaceutical company’s stock valued at $3,446,374,000 after buying an additional 601,690 shares during the period. Capital World Investors boosted its position in Gilead Sciences by 16.0% during the 1st quarter. Capital World Investors now owns 49,501,852 shares of the biopharmaceutical company’s stock valued at $2,942,905,000 after buying an additional 6,820,228 shares during the period. Geode Capital Management LLC boosted its position in Gilead Sciences by 2.0% during 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 buying an additional 440,695 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its position in Gilead Sciences by 324.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 18,002,214 shares of the biopharmaceutical company’s stock valued at $1,070,232,000 after buying an additional 13,764,169 shares during the period. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Gilead Sciences Company Profile

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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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