Gilead Sciences, Inc. (NASDAQ:GILD) Shares Purchased by Linscomb Wealth Inc.

Key Points

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Linscomb Wealth Inc. lifted its position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 52.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,209 shares of the biopharmaceutical company's stock after acquiring an additional 3,503 shares during the period. Linscomb Wealth Inc.'s holdings in Gilead Sciences were worth $1,144,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Redwood Financial Network Corp boosted its stake in Gilead Sciences by 4.0% during the fourth quarter. Redwood Financial Network Corp now owns 2,530 shares of the biopharmaceutical company's stock worth $234,000 after buying an additional 98 shares during the last quarter. Argentarii LLC raised its position 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 during the period. Peak Financial Advisors LLC raised its position 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 during the period. Perkins Coie Trust Co raised its position 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 during the period. Finally, Investment Research & Advisory Group Inc. raised its position in Gilead Sciences by 33.3% in 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 during the period. 83.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GILD has been the topic of a number of research analyst reports. Morgan Stanley lifted their target price 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 reduced their target price 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. Needham & Company LLC upgraded Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 target price on the stock in a research report on Friday, July 25th. Cantor Fitzgerald began coverage on Gilead Sciences in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $125.00 target price on the stock. Finally, Truist Financial upgraded Gilead Sciences from a "hold" rating to a "buy" rating and boosted their price objective for the company from $108.00 to $127.00 in a report on Friday. Seven investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $114.82.

Gilead Sciences Trading Up 0.9%

NASDAQ:GILD opened at $120.47 on Tuesday. The stock has a 50-day simple moving average of $111.16 and a 200-day simple moving average of $107.83. The stock has a market cap of $149.48 billion, a P/E ratio of 24.00, a P/E/G ratio of 0.75 and a beta of 0.33. Gilead Sciences, Inc. has a 1 year low of $72.43 and a 1 year high of $121.38. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.15 and a current ratio of 1.32.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.05. The business had revenue of $7.08 billion during the quarter, compared to analysts' expectations of $6.95 billion. Gilead Sciences had a return on equity of 50.99% and a net margin of 21.86%. The business's quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.01 EPS. As a group, analysts anticipate that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be given a $0.79 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.6%. Gilead Sciences's dividend payout ratio is 62.95%.

Insider Transactions at Gilead Sciences

In related news, CFO Andrew D. Dickinson sold 2,500 shares of the company's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $111.03, for a total value of $277,575.00. Following the completion of the sale, the chief financial officer directly owned 162,610 shares of the company's stock, valued at $18,054,588.30. This represents a 1.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey Bluestone sold 5,000 shares of the company's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $109.74, for a total value of $548,700.00. Following the completion of the sale, the director directly owned 8,920 shares of the company's stock, valued at approximately $978,880.80. This trade represents a 35.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 82,000 shares of company stock valued at $8,984,175 in the last 90 days. Company 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.

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