NewEdge Wealth LLC Boosts Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

NewEdge Wealth LLC grew its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 8.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 404,817 shares of the biopharmaceutical company’s stock after purchasing an additional 30,243 shares during the period. NewEdge Wealth LLC’s holdings in Gilead Sciences were worth $37,393,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in GILD. HHM Wealth Advisors LLC grew its holdings in shares of Gilead Sciences by 118.5% in the fourth quarter. HHM Wealth Advisors LLC now owns 284 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 154 shares during the last quarter. YANKCOM Partnership purchased a new stake in Gilead Sciences in the 4th quarter valued at about $28,000. Decker Retirement Planning Inc. bought a new position in Gilead Sciences in the 4th quarter worth about $29,000. Valued Wealth Advisors LLC increased its position in shares of Gilead Sciences by 101.9% during the third quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 161 shares during the period. Finally, Crews Bank & Trust bought a new stake in shares of Gilead Sciences during the fourth quarter valued at approximately $31,000. 83.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on GILD shares. Piper Sandler increased their price objective on Gilead Sciences from $105.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a research note on Wednesday, February 12th. Wells Fargo & Company upped their price objective on shares of Gilead Sciences from $105.00 to $120.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Mizuho increased their target price on shares of Gilead Sciences from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, BMO Capital Markets boosted their price target on shares of Gilead Sciences from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Eleven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, Gilead Sciences has an average rating of “Moderate Buy” and an average target price of $102.08.

Gilead Sciences Trading Down 1.0 %

NASDAQ:GILD opened at $110.46 on Thursday. The company has a market capitalization of $137.66 billion, a P/E ratio of 298.54, a PEG ratio of 0.71 and a beta of 0.18. The company has a current ratio of 1.50, a quick ratio of 1.20 and a debt-to-equity ratio of 1.24. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $112.11. The firm has a fifty day simple moving average of $96.56 and a 200-day simple moving average of $89.49.

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

Gilead Sciences Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a $0.79 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.16 dividend on an annualized basis and a yield of 2.86%. This is a positive change from Gilead Sciences’s previous quarterly dividend of $0.77. Gilead Sciences’s dividend payout ratio is currently 854.05%.

Insider Buying and Selling

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 248,645 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $92.76, for a total value of $23,064,310.20. Following the sale, the chief financial officer now directly owns 138,919 shares of the company’s stock, valued at approximately $12,886,126.44. This represents a 64.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders have sold 542,001 shares of company stock worth $52,230,551. 0.16% of the stock is owned by company insiders.

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.