Silverlake Wealth Management LLC Takes $210,000 Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Silverlake Wealth Management LLC acquired a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 2,499 shares of the biopharmaceutical company’s stock, valued at approximately $210,000.

Other institutional investors also recently added to or reduced their stakes in the company. Sunpointe LLC purchased a new stake in Gilead Sciences during the fourth quarter valued at approximately $283,000. GLOBALT Investments LLC GA purchased a new position in Gilead Sciences during the 4th quarter worth $3,562,000. Sierra Summit Advisors LLC acquired a new stake in Gilead Sciences in the fourth quarter worth about $235,000. Chicago Partners Investment Group LLC grew its stake in shares of Gilead Sciences by 7.5% during the fourth quarter. Chicago Partners Investment Group LLC now owns 6,446 shares of the biopharmaceutical company’s stock worth $513,000 after acquiring an additional 452 shares during the last quarter. Finally, Syon Capital LLC increased its holdings in shares of Gilead Sciences by 4.3% during the fourth quarter. Syon Capital LLC now owns 12,975 shares of the biopharmaceutical company’s stock valued at $1,051,000 after acquiring an additional 529 shares in the last quarter. Institutional investors own 83.67% of the company’s stock.

Analyst Upgrades and Downgrades

GILD has been the topic of several research analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a research report on Thursday, August 15th. JPMorgan Chase & Co. raised their target price on Gilead Sciences from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday. Raymond James upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 target price on the stock in a research report on Monday, July 8th. Robert W. Baird reissued a “neutral” rating and set a $80.00 price target on shares of Gilead Sciences in a research report on Thursday, June 20th. Finally, Truist Financial upped their price objective on shares of Gilead Sciences from $82.00 to $83.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Ten analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $84.83.

Insiders Place Their Bets

In related news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total transaction of $167,660.00. Following the completion of the transaction, the insider now owns 100,189 shares of the company’s stock, valued at approximately $8,398,843.87. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Johanna Mercier sold 5,490 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total value of $406,150.20. Following the sale, the insider now directly owns 114,979 shares in the company, valued at approximately $8,506,146.42. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total value of $167,660.00. Following the sale, the insider now owns 100,189 shares in the company, valued at approximately $8,398,843.87. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 36,847 shares of company stock valued at $3,033,340 over the last quarter. 0.16% of the stock is owned by insiders.

Gilead Sciences Trading Up 0.3 %

Shares of GILD opened at $84.95 on Friday. Gilead Sciences, Inc. has a 52-week low of $62.07 and a 52-week high of $87.86. The stock has a market cap of $105.84 billion, a PE ratio of 235.97, a price-to-earnings-growth ratio of 2.98 and a beta of 0.18. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 1.18. The firm’s fifty day moving average is $79.87 and its two-hundred day moving average is $72.34.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 EPS for the quarter, topping the consensus estimate of $1.61 by $0.40. The business had revenue of $6.95 billion for the quarter, compared to analyst estimates of $6.64 billion. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. Research analysts forecast that Gilead Sciences, Inc. will post 3.78 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a $0.77 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.08 annualized dividend and a yield of 3.63%. Gilead Sciences’s payout ratio is 855.56%.

Gilead Sciences Company 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.