Rialto Wealth Management LLC Makes New Investment in Gilead Sciences, Inc. (NASDAQ:GILD)

Rialto Wealth Management LLC purchased a new stake in Gilead Sciences, Inc. (NASDAQ:GILD) in the fourth quarter, Holdings Channel reports. The firm purchased 1,000 shares of the biopharmaceutical company’s stock, valued at approximately $92,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. HHM Wealth Advisors LLC boosted its holdings in 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 period. YANKCOM Partnership bought a new position in shares of Gilead Sciences in the 4th quarter worth about $28,000. Decker Retirement Planning Inc. acquired a new position in shares of Gilead Sciences in the 4th quarter valued at about $29,000. Crews Bank & Trust bought a new stake in shares of Gilead Sciences during the 4th quarter valued at about $31,000. Finally, Stephens Consulting LLC raised its stake in Gilead Sciences by 325.0% during the fourth quarter. Stephens Consulting LLC now owns 340 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 260 shares during the period. 83.67% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Gilead Sciences

In related news, CFO Andrew D. Dickinson sold 8,500 shares of Gilead Sciences stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $91.96, for a total value of $781,660.00. Following the transaction, the chief financial officer now owns 132,373 shares of the company’s stock, valued at approximately $12,173,021.08. This trade represents a 6.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 293,356 shares of company stock valued at $29,166,240 over the last three months. Company insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on GILD shares. Wolfe Research started coverage on Gilead Sciences in a research note on Friday, November 15th. They issued an “outperform” rating and a $110.00 target price for the company. Deutsche Bank Aktiengesellschaft upgraded Gilead Sciences from a “hold” rating to a “buy” rating and upped their price objective for the stock from $80.00 to $120.00 in a research note on Tuesday, February 18th. Morgan Stanley increased their target price on Gilead Sciences from $113.00 to $123.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Mizuho boosted their price target on shares of Gilead Sciences from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Finally, Oppenheimer increased their price objective on shares of Gilead Sciences from $115.00 to $132.00 and gave the stock an “outperform” rating in a report on Tuesday, March 4th. Eleven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Gilead Sciences presently has an average rating of “Moderate Buy” and a consensus target price of $104.24.

Gilead Sciences Stock Performance

NASDAQ:GILD opened at $117.41 on Friday. The company has a 50-day moving average of $99.61 and a 200-day moving average of $91.50. The firm has a market cap of $146.22 billion, a price-to-earnings ratio of 317.32, a price-to-earnings-growth ratio of 0.71 and a beta of 0.21. 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 twelve month low of $62.07 and a twelve month high of $118.42.

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

Gilead Sciences Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.69%. This is a boost from Gilead Sciences’s previous quarterly dividend of $0.77. The ex-dividend date is Friday, March 14th. Gilead Sciences’s payout ratio is presently 854.05%.

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.