Institute for Wealth Management LLC. Has $518,000 Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Institute for Wealth Management LLC. increased its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 1.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,551 shares of the biopharmaceutical company’s stock after acquiring an additional 142 shares during the period. Institute for Wealth Management LLC.’s holdings in Gilead Sciences were worth $518,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Private Wealth Management Group LLC acquired a new stake in Gilead Sciences in the fourth quarter valued at approximately $29,000. CarsonAllaria Wealth Management Ltd. boosted its stake in shares of Gilead Sciences by 198.3% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 238 shares in the last quarter. Sachetta LLC bought a new position in shares of Gilead Sciences in the 4th quarter valued at approximately $30,000. Palisade Asset Management LLC bought a new stake in Gilead Sciences during the first quarter worth approximately $29,000. Finally, Gladius Capital Management LP acquired a new position in Gilead Sciences during the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Gilead Sciences Price Performance

Shares of NASDAQ:GILD traded up $0.82 during trading on Friday, reaching $76.72. The stock had a trading volume of 6,847,053 shares, compared to its average volume of 7,242,981. The stock has a market capitalization of $95.58 billion, a PE ratio of 213.11, 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. Gilead Sciences, Inc. has a 52 week low of $62.07 and a 52 week high of $87.86. The business’s 50-day moving average price is $71.87 and its 200 day moving average price is $70.18.

Gilead Sciences Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date is Friday, September 13th. Gilead Sciences’s dividend payout ratio is currently 855.56%.

Insider Transactions at Gilead Sciences

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Barclays dropped their price objective on Gilead Sciences from $80.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Monday, April 29th. BMO Capital Markets increased their price objective on Gilead Sciences from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $70.00 target price on shares of Gilead Sciences in a research report on Friday, August 9th. Truist Financial raised their price target on shares of Gilead Sciences from $82.00 to $83.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Finally, Evercore ISI raised shares of Gilead Sciences to a “strong-buy” rating in a research report on Friday, August 9th. Twelve analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Gilead Sciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.94.

Gilead Sciences 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.