Independent Advisor Alliance Purchases 2,307 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Key Points

• Independent Advisor Alliance increased its holdings in Gilead Sciences, Inc. by 7.2%, acquiring an additional 2,307 shares, bringing its total to 34,435 shares worth approximately $3.86 million.
• The company reported earnings of $2.01 per share for the last quarter, exceeding analysts' expectations of $1.96, with revenue of $7.08 billion, up 1.4% from the same quarter last year.
• A quarterly dividend of $0.79 per share will be paid on September 29th, reflecting a 2.6% dividend yield and a payout ratio of 62.95%.

Independent Advisor Alliance grew its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 7.2% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 34,435 shares of the biopharmaceutical company's stock after purchasing an additional 2,307 shares during the period. Independent Advisor Alliance's holdings in Gilead Sciences were worth $3,858,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Gilead Sciences by 1.7% during the first quarter. Vanguard Group Inc. now owns 117,470,825 shares of the biopharmaceutical company's stock worth $13,162,606,000 after acquiring an additional 1,942,433 shares during the period. Northern Trust Corp boosted its position in Gilead Sciences by 19.7% in the fourth quarter. Northern Trust Corp now owns 14,915,095 shares of the biopharmaceutical company's stock worth $1,377,707,000 after purchasing an additional 2,458,954 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Gilead Sciences by 15.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,234,672 shares of the biopharmaceutical company's stock worth $1,130,117,000 after purchasing an additional 1,605,730 shares during the last quarter. Royal Bank of Canada boosted its position in Gilead Sciences by 30.1% in the fourth quarter. Royal Bank of Canada now owns 8,678,751 shares of the biopharmaceutical company's stock worth $801,655,000 after purchasing an additional 2,005,863 shares during the last quarter. Finally, Nuveen LLC purchased a new position in Gilead Sciences in the first quarter worth $620,415,000. 83.67% of the stock is owned by institutional investors.

Gilead Sciences Trading Up 0.9%

NASDAQ GILD opened at $120.47 on Tuesday. The stock's 50-day simple moving average is $111.16 and its two-hundred day simple moving average is $107.83. Gilead Sciences, Inc. has a twelve month low of $72.43 and a twelve month high of $121.38. The company has a quick ratio of 1.15, a current ratio of 1.32 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $149.48 billion, a price-to-earnings ratio of 24.00, a PEG ratio of 0.75 and a beta of 0.33.

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

Gilead Sciences Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, September 15th. Gilead Sciences's dividend payout ratio (DPR) is 62.95%.

Analyst Ratings Changes

Several equities analysts have weighed in on GILD shares. Needham & Company LLC raised Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 price objective for the company in a report on Friday, July 25th. Truist Financial raised Gilead Sciences from a "hold" rating to a "buy" rating and increased their price objective for the company from $108.00 to $127.00 in a report on Friday. Morgan Stanley increased their price objective on Gilead Sciences from $130.00 to $135.00 and gave the company an "overweight" rating in a report on Friday, April 25th. UBS Group increased their price objective on Gilead Sciences from $108.00 to $112.00 and gave the company a "neutral" rating in a report on Friday. Finally, Royal Bank Of Canada increased their price objective on Gilead Sciences from $96.00 to $98.00 and gave the company a "sector perform" rating in a report on Friday. Seven research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $114.82.

Insider Buying and Selling

In other news, CFO Andrew D. Dickinson sold 2,500 shares of the firm's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $111.03, for a total transaction of $277,575.00. Following the transaction, the chief financial officer directly owned 162,610 shares of the company's stock, valued at approximately $18,054,588.30. This trade represents a 1.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey Bluestone sold 5,000 shares of the firm's stock in a transaction dated Monday, July 14th. The stock was 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 in the company, valued at $978,880.80. The trade was a 35.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 82,000 shares of company stock valued at $8,984,175 over the last three months. 0.27% of the stock is owned by corporate insiders.

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.

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