Gilead Sciences, Inc. (NASDAQ:GILD) Shares Purchased by Wealth Alliance

Wealth Alliance raised its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 3.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,687 shares of the biopharmaceutical company’s stock after acquiring an additional 396 shares during the period. Wealth Alliance’s holdings in Gilead Sciences were worth $947,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Arrowstreet Capital Limited Partnership increased its position in shares of Gilead Sciences by 324.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 18,002,214 shares of the biopharmaceutical company’s stock valued at $1,070,232,000 after acquiring an additional 13,764,169 shares during the last quarter. Morgan Stanley boosted its stake in shares of Gilead Sciences by 11.5% in the fourth quarter. Morgan Stanley now owns 17,196,950 shares of the biopharmaceutical company’s stock valued at $1,476,358,000 after purchasing an additional 1,780,489 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Gilead Sciences by 70.6% in the first quarter. Renaissance Technologies LLC now owns 15,492,116 shares of the biopharmaceutical company’s stock valued at $921,006,000 after purchasing an additional 6,410,047 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Gilead Sciences by 14.8% in the third quarter. Bank of New York Mellon Corp now owns 15,421,436 shares of the biopharmaceutical company’s stock valued at $951,350,000 after purchasing an additional 1,987,058 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Gilead Sciences by 3.0% in the first quarter. Northern Trust Corp now owns 14,969,251 shares of the biopharmaceutical company’s stock valued at $889,922,000 after purchasing an additional 430,810 shares during the period. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $72.96, for a total transaction of $145,920.00. Following the transaction, the insider now owns 96,304 shares of the company’s stock, valued at $7,026,339.84. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Barclays lowered their price objective on shares of Gilead Sciences from $85.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, February 12th. StockNews.com upgraded shares of Gilead Sciences from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 26th. Oppenheimer decreased their price target on shares of Gilead Sciences from $115.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, February 12th. Royal Bank of Canada decreased their price target on shares of Gilead Sciences from $76.00 to $75.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 14th. Finally, Mizuho decreased their price target on shares of Gilead Sciences from $101.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $85.36.

Gilead Sciences Stock Performance

Shares of GILD stock opened at $67.31 on Wednesday. The stock’s 50-day moving average is $72.40 and its two-hundred day moving average is $76.73. The firm has a market cap of $83.81 billion, a price-to-earnings ratio of 14.96, a PEG ratio of 0.86 and a beta of 0.19. Gilead Sciences, Inc. has a 1 year low of $67.18 and a 1 year high of $87.86. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.27 and a current ratio of 1.43.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Tuesday, February 6th. The biopharmaceutical company reported $1.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.76 by ($0.04). The firm had revenue of $7.12 billion for the quarter, compared to analysts’ expectations of $7.10 billion. Gilead Sciences had a return on equity of 38.85% and a net margin of 20.89%. The business’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.67 EPS. Analysts predict that Gilead Sciences, Inc. will post 7.06 earnings per share for the current year.

Gilead Sciences Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a dividend of $0.77 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.58%. This is a positive change from Gilead Sciences’s previous quarterly dividend of $0.75. Gilead Sciences’s dividend payout ratio (DPR) is currently 68.44%.

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.