Opes Wealth Management LLC Has $14.52 Million Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Opes Wealth Management LLC raised its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 0.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 157,209 shares of the biopharmaceutical company’s stock after purchasing an additional 120 shares during the quarter. Gilead Sciences comprises approximately 3.0% of Opes Wealth Management LLC’s holdings, making the stock its 5th biggest holding. Opes Wealth Management LLC’s holdings in Gilead Sciences were worth $14,521,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. MOKAN Wealth Management Inc. acquired a new position in shares of Gilead Sciences in the 4th quarter valued at approximately $1,735,000. Nkcfo LLC acquired a new position in shares of Gilead Sciences in the 4th quarter valued at approximately $2,739,000. Strategic Financial Concepts LLC acquired a new position in shares of Gilead Sciences in the 4th quarter valued at approximately $6,640,000. Allworth Financial LP raised its position in shares of Gilead Sciences by 24.8% in the 4th quarter. Allworth Financial LP now owns 35,953 shares of the biopharmaceutical company’s stock valued at $3,345,000 after buying an additional 7,143 shares in the last quarter. Finally, Principal Securities Inc. raised its position in shares of Gilead Sciences by 45.0% in the 4th quarter. Principal Securities Inc. now owns 14,404 shares of the biopharmaceutical company’s stock valued at $1,330,000 after buying an additional 4,468 shares in the last quarter. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on GILD shares. Oppenheimer boosted their target price on shares of Gilead Sciences from $105.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Citigroup started coverage on shares of Gilead Sciences in a research report on Thursday, November 14th. They issued a “buy” rating and a $125.00 target price for the company. Leerink Partnrs upgraded shares of Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 21st. Leerink Partners upgraded shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $74.00 to $96.00 in a research report on Monday, October 21st. Finally, BMO Capital Markets upped their price objective on shares of Gilead Sciences from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday. Eleven investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, Gilead Sciences has an average rating of “Moderate Buy” and an average price target of $101.33.

Insider Activity

In related news, insider Merdad Parsey sold 164,211 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $91.92, for a total transaction of $15,094,275.12. Following the transaction, the insider now directly owns 80,801 shares of the company’s stock, valued at $7,427,227.92. This represents a 67.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Andrew D. Dickinson sold 248,645 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $92.76, for a total transaction of $23,064,310.20. Following the transaction, the chief financial officer now directly owns 138,919 shares in the company, valued at approximately $12,886,126.44. This represents a 64.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 710,500 shares of company stock valued at $67,684,956. 0.16% of the stock is currently owned by insiders.

Gilead Sciences Trading Down 1.8 %

NASDAQ:GILD opened at $104.08 on Friday. The firm’s fifty day moving average is $93.87 and its 200-day moving average is $87.55. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.10 and a current ratio of 1.26. Gilead Sciences, Inc. has a 52 week low of $62.07 and a 52 week high of $106.69. The firm has a market cap of $129.71 billion, a P/E ratio of 1,156.44, a P/E/G ratio of 1.25 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.67 by $0.23. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. Equities analysts expect that Gilead Sciences, Inc. will post 4.35 earnings per share for the current year.

Gilead Sciences Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $0.79 dividend. This is a positive change from Gilead Sciences’s previous quarterly dividend of $0.77. This represents a $3.16 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend is Friday, March 14th. Gilead Sciences’s dividend payout ratio is currently 3,422.22%.

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.