3Chopt Investment Partners LLC Buys Shares of 18,844 Gilead Sciences, Inc. (NASDAQ:GILD)

3Chopt Investment Partners LLC acquired a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 18,844 shares of the biopharmaceutical company's stock, valued at approximately $2,111,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC increased its stake in Gilead Sciences by 20.6% in the 4th quarter. Brighton Jones LLC now owns 14,359 shares of the biopharmaceutical company's stock valued at $1,326,000 after buying an additional 2,450 shares during the last quarter. Wealthspire Advisors LLC purchased a new stake in shares of Gilead Sciences during the 4th quarter worth approximately $248,000. Whipplewood Advisors LLC purchased a new stake in shares of Gilead Sciences during the 4th quarter worth approximately $35,000. Proficio Capital Partners LLC purchased a new stake in shares of Gilead Sciences during the 4th quarter worth approximately $339,000. Finally, Wakefield Asset Management LLLP purchased a new stake in shares of Gilead Sciences during the 4th quarter worth approximately $514,000. 83.67% of the stock is owned by hedge funds and other institutional investors.

Gilead Sciences Stock Up 2.8%

GILD stock traded up $3.05 during trading on Friday, reaching $110.67. 19,541,254 shares of the company traded hands, compared to its average volume of 7,682,147. The business has a 50 day simple moving average of $106.39 and a 200 day simple moving average of $103.35. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.23 and a current ratio of 1.37. Gilead Sciences, Inc. has a 12 month low of $66.01 and a 12 month high of $119.96. The company has a market capitalization of $137.67 billion, a price-to-earnings ratio of 23.30, a price-to-earnings-growth ratio of 0.72 and a beta of 0.29.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, topping analysts' consensus estimates of $1.77 by $0.04. The firm had revenue of $6.67 billion during the quarter, compared to analysts' expectations of $6.77 billion. Gilead Sciences had a return on equity of 51.93% and a net margin of 20.76%. The business's quarterly revenue was down .3% on a year-over-year basis. During the same quarter last year, the firm earned ($1.32) EPS. On average, equities research analysts anticipate that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were given a dividend of $0.79 per share. The ex-dividend date was Friday, June 13th. This represents a $3.16 annualized dividend and a yield of 2.86%. Gilead Sciences's dividend payout ratio is presently 66.53%.

Insider Activity at Gilead Sciences

In related news, insider Johanna Mercier sold 28,000 shares of Gilead Sciences 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 now owns 121,152 shares in the company, valued at approximately $13,026,263.04. The trade was a 18.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Andrew D. Dickinson sold 2,500 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $99.82, for a total transaction of $249,550.00. Following the completion of the transaction, the chief financial officer now owns 165,674 shares in the company, valued at $16,537,578.68. This represents a 1.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,500 shares of company stock worth $5,236,245. 0.27% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

GILD has been the subject of several analyst reports. Needham & Company LLC reaffirmed a "hold" rating on shares of Gilead Sciences in a report on Wednesday, May 21st. Morgan Stanley lifted their price objective on shares of Gilead Sciences from $130.00 to $135.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Bank of America lifted their price objective on shares of Gilead Sciences from $116.00 to $126.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Oppenheimer dropped their price objective on shares of Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Finally, Wells Fargo & Company lifted their price objective on shares of Gilead Sciences from $120.00 to $140.00 and gave the stock an "overweight" rating in a report on Wednesday, March 5th. Nine research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $110.55.

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.