Spirepoint Private Client LLC Takes $6.93 Million Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Spirepoint Private Client LLC acquired a new stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 61,815 shares of the biopharmaceutical company's stock, valued at approximately $6,926,000.

A number of other institutional investors have also recently bought and sold shares of the business. Bridgewater Associates LP raised its position in shares of Gilead Sciences by 122.7% in the 4th quarter. Bridgewater Associates LP now owns 460,936 shares of the biopharmaceutical company's stock valued at $42,577,000 after acquiring an additional 253,994 shares during the period. Nissay Asset Management Corp Japan ADV increased its stake in Gilead Sciences by 5.2% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 284,243 shares of the biopharmaceutical company's stock valued at $26,750,000 after purchasing an additional 14,009 shares in the last quarter. Ontario Teachers Pension Plan Board raised its holdings in Gilead Sciences by 54.6% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 37,051 shares of the biopharmaceutical company's stock worth $3,422,000 after purchasing an additional 13,086 shares during the period. Mufg Securities Americas Inc. bought a new position in shares of Gilead Sciences during the fourth quarter worth $1,699,000. Finally, JFG Wealth Management LLC acquired a new position in shares of Gilead Sciences in the 4th quarter valued at $427,000. Institutional investors and hedge funds own 83.67% of the company's stock.

Insider Activity

In other news, CEO Daniel Patrick O'day sold 10,000 shares of the stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $110.42, for a total transaction of $1,104,200.00. Following the transaction, the chief executive officer now owns 620,268 shares in the company, valued at approximately $68,489,992.56. This trade represents a 1.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Andrew D. Dickinson sold 2,500 shares of the business's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $99.82, for a total value of $249,550.00. Following the completion of the sale, the chief financial officer now owns 165,674 shares of the company's stock, valued at $16,537,578.68. This trade represents a 1.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 48,500 shares of company stock valued at $5,236,245 over the last ninety days. 0.27% of the stock is currently owned by company insiders.

Gilead Sciences Stock Performance

Gilead Sciences stock traded down $1.27 during midday trading on Wednesday, reaching $105.93. 6,053,341 shares of the company's stock were exchanged, compared to its average volume of 7,645,261. The stock's 50-day simple moving average is $106.19 and its 200 day simple moving average is $103.01. The firm has a market cap of $131.77 billion, a price-to-earnings ratio of 22.30, a P/E/G ratio of 0.69 and a beta of 0.29. 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 52 week low of $66.01 and a 52 week high of $119.96.

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

Gilead Sciences Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be given a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend is Friday, June 13th. Gilead Sciences's payout ratio is presently 66.53%.

Analyst Ratings Changes

Several analysts recently commented on GILD shares. Bank of America raised their price objective on Gilead Sciences from $116.00 to $126.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. JPMorgan Chase & Co. raised their price target on Gilead Sciences from $120.00 to $130.00 and gave the stock an "overweight" rating in a research report on Thursday, March 27th. Wells Fargo & Company lifted their price objective on Gilead Sciences from $120.00 to $140.00 and gave the company an "overweight" rating in a report on Wednesday, March 5th. Morgan Stanley boosted their price objective on Gilead Sciences from $130.00 to $135.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Finally, Cantor Fitzgerald initiated coverage on shares of Gilead Sciences in a report on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 target price on the stock. Nine analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, Gilead Sciences has a consensus rating of "Moderate Buy" and a consensus price target of $110.55.

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.