AXS Investments LLC Makes New Investment in Gilead Sciences, Inc. (NASDAQ:GILD)

Key Points

• AXS Investments LLC acquired 11,560 shares of Gilead Sciences, valued at approximately $1,295,000, signaling increased institutional interest in the company.
• Insiders, including CEO Daniel Patrick O'Day, sold a total of 82,000 shares worth around $8.98 million in the last ninety days, indicating possible shifts in insider confidence.
• Research analysts have upwardly adjusted their ratings and price targets for Gilead, with a significant upgrade from Needham & Company from "hold" to "buy", reflecting positive market sentiment.

AXS Investments LLC purchased a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,560 shares of the biopharmaceutical company's stock, valued at approximately $1,295,000.

Several other institutional investors have also added to or reduced their stakes in GILD. Redwood Financial Network Corp lifted its position in shares of Gilead Sciences by 4.0% in the 4th quarter. Redwood Financial Network Corp now owns 2,530 shares of the biopharmaceutical company's stock worth $234,000 after purchasing an additional 98 shares during the period. Argentarii LLC grew its position in shares of Gilead Sciences by 3.0% during the 1st quarter. Argentarii LLC now owns 3,392 shares of the biopharmaceutical company's stock worth $380,000 after buying an additional 99 shares during the period. Peak Financial Advisors LLC grew its position in shares of Gilead Sciences by 1.7% during the 1st quarter. Peak Financial Advisors LLC now owns 6,040 shares of the biopharmaceutical company's stock worth $677,000 after buying an additional 100 shares during the period. Perkins Coie Trust Co grew its position in shares of Gilead Sciences by 2.6% during the 1st quarter. Perkins Coie Trust Co now owns 3,880 shares of the biopharmaceutical company's stock worth $435,000 after buying an additional 100 shares during the period. Finally, Investment Research & Advisory Group Inc. grew its position in shares of Gilead Sciences by 33.3% during the 1st quarter. Investment Research & Advisory Group Inc. now owns 400 shares of the biopharmaceutical company's stock worth $45,000 after buying an additional 100 shares during the period. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Gilead Sciences

In related news, CFO Andrew D. Dickinson sold 2,500 shares of the company's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $111.03, for a total value of $277,575.00. Following the transaction, the chief financial officer owned 162,610 shares in the company, valued at approximately $18,054,588.30. This represents a 1.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Johanna Mercier sold 28,000 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $107.52, for a total value of $3,010,560.00. Following the completion of the transaction, the insider owned 121,152 shares in the company, valued at approximately $13,026,263.04. The trade was a 18.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 82,000 shares of company stock worth $8,984,175 in the last ninety days. Company insiders own 0.27% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GILD. Oppenheimer reduced their price objective on shares of Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Cantor Fitzgerald assumed coverage on shares of Gilead Sciences in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 price objective for the company. Truist Financial raised Gilead Sciences from a "hold" rating to a "buy" rating and upped their target price for the stock from $108.00 to $127.00 in a research report on Friday. Morgan Stanley upped their target price on Gilead Sciences from $130.00 to $135.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Finally, Needham & Company LLC raised Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 target price on the stock in a research report on Friday, July 25th. Seven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $114.82.

Gilead Sciences Stock Performance

Shares of Gilead Sciences stock traded up $9.13 during trading hours on Friday, hitting $119.41. 13,112,190 shares of the company's stock traded hands, compared to its average volume of 5,807,634. Gilead Sciences, Inc. has a 12-month low of $72.43 and a 12-month high of $121.38. The stock has a market capitalization of $148.54 billion, a price-to-earnings ratio of 23.79, a PEG ratio of 0.70 and a beta of 0.33. The company has a fifty day simple moving average of $110.93 and a 200-day simple moving average of $107.43. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.37 and a quick ratio of 1.23.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced its earnings results on Thursday, August 7th. The biopharmaceutical company reported $2.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.05. Gilead Sciences had a return on equity of 51.45% and a net margin of 21.86%. The firm had revenue of $7.08 billion during the quarter, compared to analyst estimates of $6.95 billion. During the same period last year, the firm posted $2.01 EPS. The business's revenue was up 1.4% compared to the same quarter last year. Equities research analysts anticipate that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be paid a $0.79 dividend. The ex-dividend date is Monday, September 15th. This represents a $3.16 annualized dividend and a yield of 2.6%. Gilead Sciences's dividend payout ratio is presently 66.53%.

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.