Evolve Private Wealth LLC Acquires New Stake in Gilead Sciences, Inc. $GILD

Key Points

• Evolve Private Wealth acquired 20,202 Gilead Sciences shares worth approximately $2.55 million in the second quarter. Institutional investors collectively own 83.67% of Gilead’s outstanding stock.
• Analyst sentiment remains generally positive, with 24 Buy ratings and five Holds; Gilead has a “Moderate Buy” consensus rating and an average price target of $158.04.
• Gilead reported quarterly revenue of $7.8 billion, exceeding estimates, and announced a quarterly dividend of $0.82 per share, equivalent to an annualized $3.28 dividend and a 2.2% yield.

Evolve Private Wealth LLC acquired a new stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 20,202 shares of the biopharmaceutical company's stock, valued at approximately $2,552,000.

Several other hedge funds have also added to or reduced their stakes in GILD. Persistent Asset Partners Ltd bought a new position in Gilead Sciences in the 2nd quarter worth about $25,000. Strategic Investment Solutions Inc. IL bought a new stake in Gilead Sciences during the 4th quarter valued at about $25,000. Vermillion & White Wealth Management Group LLC increased its stake in Gilead Sciences by 71.4% during the 4th quarter. Vermillion & White Wealth Management Group LLC now owns 204 shares of the biopharmaceutical company's stock valued at $25,000 after purchasing an additional 85 shares in the last quarter. Quattro Advisors LLC purchased a new position in Gilead Sciences in the fourth quarter worth about $26,000. Finally, Wealth Preservation Advisors LLC raised its holdings in Gilead Sciences by 60.0% in the fourth quarter. Wealth Preservation Advisors LLC now owns 216 shares of the biopharmaceutical company's stock worth $27,000 after buying an additional 81 shares during the last quarter. 83.67% of the stock is owned by institutional investors.

Insider Transactions at Gilead Sciences

In related news, Director Jeffrey Bluestone sold 5,000 shares of the company's stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $145.02, for a total transaction of $725,100.00. Following the completion of the sale, the director owned 10,066 shares in the company, valued at approximately $1,459,771.32. This represents a 33.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Andrew D. Dickinson sold 3,000 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $138.36, for a total value of $415,080.00. Following the completion of the transaction, the chief financial officer directly owned 165,646 shares in the company, valued at approximately $22,918,780.56. This represents a 1.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 87,000 shares of company stock valued at $11,562,960 over the last 90 days. 0.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

GILD has been the topic of a number of recent analyst reports. Rothschild & Co Redburn cut their price target on shares of Gilead Sciences from $170.00 to $167.00 in a report on Monday, May 11th. Royal Bank Of Canada boosted their price objective on shares of Gilead Sciences from $120.00 to $123.00 and gave the stock a "sector perform" rating in a report on Wednesday, August 5th. Wall Street Zen raised Gilead Sciences from a "hold" rating to a "buy" rating in a research report on Saturday, August 15th. Cantor Fitzgerald reiterated an "overweight" rating and set a $155.00 target price on shares of Gilead Sciences in a research note on Wednesday, August 5th. Finally, Weiss Ratings downgraded Gilead Sciences from a "buy (b-)" rating to a "hold (c-)" rating in a research note on Tuesday, August 11th. Twenty-four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $158.04.

Gilead Sciences Stock Performance

Shares of GILD stock opened at $146.12 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. The company has a 50 day moving average price of $131.97 and a 200-day moving average price of $136.59. Gilead Sciences, Inc. has a 52 week low of $108.46 and a 52 week high of $157.29. The firm has a market capitalization of $181.18 billion, a PE ratio of -54.73 and a beta of 0.32.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The biopharmaceutical company reported ($6.75) earnings per share for the quarter, beating analysts' consensus estimates of ($7.25) by $0.50. Gilead Sciences had a negative net margin of 10.64% and a negative return on equity of 2.11%. The company had revenue of $7.80 billion for the quarter, compared to the consensus estimate of $7.40 billion. During the same quarter in the prior year, the firm earned $2.01 earnings per share. The firm's revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, equities research analysts expect that Gilead Sciences, Inc. will post -0.51 earnings per share for the current year.

Gilead Sciences Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.82 per share. The ex-dividend date is Tuesday, September 15th. This represents a $3.28 dividend on an annualized basis and a yield of 2.2%. Gilead Sciences's payout ratio is currently -122.85%.

About Gilead Sciences

Gilead Sciences, Inc, founded in 1987 and headquartered in Foster City, California, is a biopharmaceutical company focused on the discovery, development and commercialization of medicines in areas of high unmet medical need. The company initially built its reputation in antiviral therapies and has since expanded into oncology, cell therapy and inflammatory diseases. Gilead operates a global research and commercial organization, conducting clinical development and selling medicines in markets around the world.

Gilead's product portfolio is anchored by antiviral therapies for HIV and viral hepatitis.

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