Shares of Gilead Sciences Inc. (NASDAQ:GILD) shot up 1.6% on Wednesday . The stock traded as high as $80.69 and last traded at $80.55, with a volume of 5,593,554 shares changing hands. The stock had previously closed at $79.25.

Several equities analysts recently commented on the stock. Barclays PLC reaffirmed an “overweight” rating on shares of Gilead Sciences in a report on Thursday, July 28th. Maxim Group lowered shares of Gilead Sciences from a “buy” rating to a “hold” rating in a report on Friday, April 29th. Vetr raised shares of Gilead Sciences from a “hold” rating to a “buy” rating and set a $107.61 target price on the stock in a report on Tuesday, April 26th. Zacks Investment Research lowered shares of Gilead Sciences from a “buy” rating to a “hold” rating in a report on Thursday, July 28th. Finally, RBC Capital Markets set a $105.00 target price on shares of Gilead Sciences and gave the company a “buy” rating in a report on Thursday, August 11th. Ten investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $107.37.

The firm has a market capitalization of $106.50 billion and a P/E ratio of 7.08. The stock’s 50 day moving average is $83.05 and its 200 day moving average is $87.49.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Monday, July 25th. The biopharmaceutical company reported $3.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.02 by $0.06. The business had revenue of $7.78 billion for the quarter, compared to the consensus estimate of $7.80 billion. During the same quarter in the previous year, the company earned $3.15 earnings per share. The firm’s revenue was down 5.7% on a year-over-year basis. Equities research analysts predict that Gilead Sciences Inc. will post $11.78 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Friday, September 16th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.33%. The ex-dividend date is Wednesday, September 14th.

In other news, EVP Paul Rutherford Carter sold 2,000 shares of the firm’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $79.81, for a total value of $159,620.00. Following the sale, the executive vice president now directly owns 64,122 shares in the company, valued at approximately $5,117,576.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John F. Milligan sold 112,000 shares of the firm’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $86.94, for a total transaction of $9,737,280.00. Following the completion of the sale, the chief executive officer now owns 1,170,963 shares in the company, valued at $101,803,523.22. The disclosure for this sale can be found here.

Other hedge funds have recently added to or reduced their stakes in the company. Synovus Financial Corp boosted its stake in Gilead Sciences by 8.0% in the fourth quarter. Synovus Financial Corp now owns 98,651 shares of the biopharmaceutical company’s stock worth $9,964,000 after buying an additional 7,307 shares in the last quarter. Artemis Investment Management LLP boosted its stake in Gilead Sciences by 2.1% in the fourth quarter. Artemis Investment Management LLP now owns 333,864 shares of the biopharmaceutical company’s stock worth $33,780,000 after buying an additional 7,017 shares in the last quarter. Noesis Capital Mangement Corp boosted its stake in Gilead Sciences by 2.6% in the fourth quarter. Noesis Capital Mangement Corp now owns 64,972 shares of the biopharmaceutical company’s stock worth $6,575,000 after buying an additional 1,655 shares in the last quarter. Alpha Cubed Investments LLC boosted its stake in Gilead Sciences by 0.6% in the fourth quarter. Alpha Cubed Investments LLC now owns 116,793 shares of the biopharmaceutical company’s stock worth $11,818,000 after buying an additional 648 shares in the last quarter. Finally, Sfmg LLC boosted its stake in Gilead Sciences by 5.2% in the fourth quarter. Sfmg LLC now owns 10,619 shares of the biopharmaceutical company’s stock worth $1,075,000 after buying an additional 522 shares in the last quarter.

Gilead Sciences, Inc is a research-based biopharmaceutical company. The Company focuses on the discovery, development and commercialization of medicines in areas of unmet medical need. The Company’s principal areas of focus include human immunodeficiency virus (HIV), liver diseases, such as chronic hepatitis C virus infection and chronic hepatitis B virus infection, cardiovascular, hematology/oncology and inflammation/respiratory.

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