Allworth Financial LP Purchases 6,040 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Allworth Financial LP grew its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 16.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 41,993 shares of the biopharmaceutical company's stock after acquiring an additional 6,040 shares during the period. Allworth Financial LP's holdings in Gilead Sciences were worth $4,458,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Redwood Financial Network Corp grew its stake in Gilead Sciences by 4.0% in the fourth quarter. Redwood Financial Network Corp now owns 2,530 shares of the biopharmaceutical company's stock valued at $234,000 after purchasing an additional 98 shares in the last quarter. Argentarii LLC grew its stake in Gilead Sciences by 3.0% in the first quarter. Argentarii LLC now owns 3,392 shares of the biopharmaceutical company's stock valued at $380,000 after purchasing an additional 99 shares in the last quarter. Nicolet Advisory Services LLC grew its stake in Gilead Sciences by 2.9% in the fourth quarter. Nicolet Advisory Services LLC now owns 3,580 shares of the biopharmaceutical company's stock valued at $322,000 after purchasing an additional 100 shares in the last quarter. Peak Financial Advisors LLC grew its stake in Gilead Sciences by 1.7% in the first quarter. Peak Financial Advisors LLC now owns 6,040 shares of the biopharmaceutical company's stock valued at $677,000 after purchasing an additional 100 shares in the last quarter. Finally, Perkins Coie Trust Co grew its stake in Gilead Sciences by 2.6% in the first quarter. Perkins Coie Trust Co now owns 3,880 shares of the biopharmaceutical company's stock valued at $435,000 after purchasing an additional 100 shares in the last quarter. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GILD has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised their price target on Gilead Sciences from $120.00 to $130.00 and gave the company an "overweight" rating in a research note on Thursday, March 27th. Morgan Stanley raised 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. Oppenheimer cut their price objective on 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 Gilead Sciences in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $125.00 price objective for the company. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Gilead Sciences in a research report on Wednesday, May 21st. Nine analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $111.38.

Insider Transactions at Gilead Sciences

In other news, CEO Daniel Patrick O'day sold 10,000 shares of the business's stock in a transaction 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 completion of the transaction, the chief executive officer owned 620,268 shares of the company's stock, valued at approximately $68,489,992.56. The trade was a 1.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Johanna Mercier sold 28,000 shares of the business's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $107.52, for a total value of $3,010,560.00. Following the transaction, the insider directly owned 121,152 shares of the company's stock, valued at $13,026,263.04. This trade represents a 18.77% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,500 shares of company stock valued at $6,340,745. Corporate insiders own 0.27% of the company's stock.

Gilead Sciences Price Performance

Gilead Sciences stock traded down $4.90 during mid-day trading on Friday, reaching $109.64. 6,115,020 shares of the company were exchanged, compared to its average volume of 7,692,547. The company has a fifty day simple moving average of $107.74 and a 200-day simple moving average of $104.61. Gilead Sciences, Inc. has a 12 month low of $69.91 and a 12 month high of $119.96. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.37 and a quick ratio of 1.23. The firm has a market cap of $136.38 billion, a PE ratio of 23.08, a PEG ratio of 0.74 and a beta of 0.29.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 EPS for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $6.77 billion. During the same quarter in the previous year, the firm earned ($1.32) EPS. Gilead Sciences's revenue was down .3% on a year-over-year basis. As a group, equities research analysts expect that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were issued a dividend of $0.79 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.88%. Gilead Sciences's dividend payout ratio (DPR) is currently 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.