Cyndeo Wealth Partners LLC Makes New Investment in Gilead Sciences, Inc. (NASDAQ:GILD)

Cyndeo Wealth Partners LLC bought a new stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 7,824 shares of the biopharmaceutical company's stock, valued at approximately $877,000.

Other hedge funds have also recently modified their holdings of the company. Bridgewater Associates LP increased its stake in Gilead Sciences by 122.7% in the fourth quarter. Bridgewater Associates LP now owns 460,936 shares of the biopharmaceutical company's stock worth $42,577,000 after purchasing an additional 253,994 shares during the period. Nissay Asset Management Corp Japan ADV grew its holdings in shares of 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 worth $26,750,000 after purchasing an additional 14,009 shares during the last quarter. Ontario Teachers Pension Plan Board grew its holdings in shares of 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 last quarter. Mufg Securities Americas Inc. purchased a new position in Gilead Sciences in the 4th quarter worth about $1,699,000. Finally, Convergence Investment Partners LLC lifted its holdings in Gilead Sciences by 15.8% during the 4th quarter. Convergence Investment Partners LLC now owns 68,447 shares of the biopharmaceutical company's stock valued at $6,322,000 after buying an additional 9,330 shares in the last quarter. Institutional investors own 83.67% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GILD. Wells Fargo & Company raised their target price on shares of Gilead Sciences from $120.00 to $140.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 5th. Needham & Company LLC restated a "hold" rating on shares of Gilead Sciences in a report on Wednesday, May 21st. Oppenheimer lowered their target price on Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Cantor Fitzgerald initiated coverage on Gilead Sciences in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 price target on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on Gilead Sciences from $120.00 to $130.00 and gave the company an "overweight" rating in a report on Thursday, March 27th. Nine investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $110.55.

Insider Buying and Selling

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 2,500 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $106.40, for a total value of $266,000.00. Following the completion of the transaction, the chief financial officer now directly owns 168,174 shares of the company's stock, valued at approximately $17,893,713.60. The trade was a 1.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Daniel Patrick O'day sold 10,000 shares of the 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 sale, the chief executive officer now directly owns 620,268 shares in the company, valued at $68,489,992.56. This trade represents a 1.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In 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.

Gilead Sciences Stock Performance

Shares of Gilead Sciences stock traded up $0.30 during midday trading on Wednesday, hitting $108.30. The company had a trading volume of 1,991,581 shares, compared to its average volume of 8,736,641. The stock has a market cap of $134.72 billion, a price-to-earnings ratio of 22.83, a PEG ratio of 0.72 and a beta of 0.29. Gilead Sciences, Inc. has a 12-month low of $64.86 and a 12-month high of $119.96. The company has a quick ratio of 1.23, a current ratio of 1.37 and a debt-to-equity ratio of 1.16. The company has a fifty day simple moving average of $105.88 and a 200 day simple moving average of $102.49.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted 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 business had revenue of $6.67 billion during the quarter, compared to analysts' expectations of $6.77 billion. Gilead Sciences had a net margin of 20.76% and a return on equity of 51.93%. The business's quarterly revenue was down .3% on a year-over-year basis. During the same quarter last year, the company posted ($1.32) earnings per share. As a group, analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be given a $0.79 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $3.16 dividend on an annualized basis and a yield of 2.92%. Gilead Sciences's dividend payout ratio 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.