Code Waechter LLC Makes New Investment in Gilead Sciences, Inc. (NASDAQ:GILD)

Code Waechter 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. The institutional investor purchased 4,961 shares of the biopharmaceutical company's stock, valued at approximately $556,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Smallwood Wealth Investment Management LLC bought a new stake in Gilead Sciences during the first quarter valued at about $25,000. Goodman Advisory Group LLC bought a new stake in Gilead Sciences during the first quarter valued at about $29,000. Core Alternative Capital boosted its position in Gilead Sciences by 370.8% during the first quarter. Core Alternative Capital now owns 306 shares of the biopharmaceutical company's stock valued at $34,000 after purchasing an additional 241 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC boosted its position in Gilead Sciences by 158.8% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 352 shares of the biopharmaceutical company's stock valued at $33,000 after purchasing an additional 216 shares in the last quarter. Finally, Investment Research & Advisory Group Inc. boosted its position in Gilead Sciences by 33.3% during the first quarter. Investment Research & Advisory Group Inc. now owns 400 shares of the biopharmaceutical company's stock valued at $45,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 83.67% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on GILD shares. JPMorgan Chase & Co. raised their price objective on Gilead Sciences from $120.00 to $130.00 and gave the company an "overweight" rating in a research report on Thursday, March 27th. Cantor Fitzgerald started coverage on Gilead Sciences in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 price objective on the stock. Oppenheimer dropped their price objective on Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Morgan Stanley raised their price target on Gilead Sciences from $130.00 to $135.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Gilead Sciences in a report on Wednesday, May 21st. Nine investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $111.38.

Gilead Sciences Price Performance

GILD traded up $1.30 during trading on Thursday, hitting $114.54. The company's stock had a trading volume of 6,096,837 shares, compared to its average volume of 7,706,475. The company has a current ratio of 1.37, a quick ratio of 1.23 and a debt-to-equity ratio of 1.16. Gilead Sciences, Inc. has a twelve month low of $68.14 and a twelve month high of $119.96. The business's fifty day simple moving average is $107.40 and its 200 day simple moving average is $104.35. The firm has a market capitalization of $142.48 billion, a price-to-earnings ratio of 24.11, a P/E/G ratio of 0.73 and a beta of 0.29.

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

Gilead Sciences Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date was Friday, June 13th. Gilead Sciences's dividend payout ratio is presently 66.53%.

Insider Transactions at Gilead Sciences

In other news, CFO Andrew D. Dickinson sold 2,500 shares of Gilead Sciences stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $110.17, for a total value of $275,425.00. Following the sale, the chief financial officer directly owned 165,110 shares of the company's stock, valued at $18,190,168.70. The trade was a 1.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Johanna Mercier sold 3,000 shares of the business's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $110.17, for a total value of $330,510.00. Following the transaction, the insider directly owned 120,168 shares in the company, valued at $13,238,908.56. This trade represents a 2.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 58,500 shares of company stock valued at $6,340,745 over the last ninety days. Insiders own 0.27% of the company's stock.

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.