NWK Group Inc. Takes $1.68 Million Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Key Points

• NWK Group Inc. has acquired a new stake in Gilead Sciences, purchasing 14,972 shares valued at approximately $1.68 million, which constitutes 0.8% of its investment portfolio.
• Analysts have set diverse price targets for Gilead Sciences, with Morgan Stanley increasing its target from $130 to $135, while Oppenheimer decreased its target from $132 to $125, reflecting varied expectations for the stock's performance.
• Gilead Sciences has announced a quarterly dividend of $0.79 per share, representing an annual yield of 2.6%, with the ex-dividend date set for September 15th.

NWK Group Inc. bought a new position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 14,972 shares of the biopharmaceutical company's stock, valued at approximately $1,678,000. Gilead Sciences makes up about 0.8% of NWK Group Inc.'s portfolio, making the stock its 27th biggest holding.

A number of other large investors also recently modified their holdings of GILD. Brighton Jones LLC increased its stake in Gilead Sciences by 20.6% during the fourth quarter. Brighton Jones LLC now owns 14,359 shares of the biopharmaceutical company's stock worth $1,326,000 after acquiring an additional 2,450 shares during the last quarter. Trexquant Investment LP purchased a new position in Gilead Sciences during the 4th quarter worth $523,000. Bessemer Group Inc. lifted its stake in Gilead Sciences by 10.9% in the fourth quarter. Bessemer Group Inc. now owns 97,167 shares of the biopharmaceutical company's stock worth $8,974,000 after acquiring an additional 9,573 shares during the period. Scotia Capital Inc. boosted its stake in shares of Gilead Sciences by 9.5% during the fourth quarter. Scotia Capital Inc. now owns 162,749 shares of the biopharmaceutical company's stock valued at $15,033,000 after purchasing an additional 14,125 shares in the last quarter. Finally, Legacy Financial Advisors Inc. purchased a new position in shares of Gilead Sciences in the 4th quarter valued at $295,000. Hedge funds and other institutional investors own 83.67% of the company's stock.

Insider Buying and Selling at Gilead Sciences

In other news, CEO Daniel Patrick O'day sold 10,000 shares of the stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $113.94, for a total value of $1,139,400.00. Following the completion of the sale, the chief executive officer directly owned 605,725 shares in the company, valued at $69,016,306.50. This represents a 1.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Andrew D. Dickinson sold 2,500 shares of the company's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $111.03, for a total transaction of $277,575.00. Following the sale, the chief financial officer directly owned 162,610 shares of the company's stock, valued at approximately $18,054,588.30. This represents a 1.51% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 82,000 shares of company stock worth $8,984,175. Company insiders own 0.27% of the company's stock.

Analyst Upgrades and Downgrades

GILD has been the subject of several research reports. Oppenheimer lowered their price objective on shares of Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. UBS Group boosted their price target on Gilead Sciences from $108.00 to $112.00 and gave the company a "neutral" rating in a research note on Friday. Royal Bank Of Canada raised their price objective on Gilead Sciences from $96.00 to $98.00 and gave the stock a "sector perform" rating in a research note on Friday. Truist Financial upgraded Gilead Sciences from a "hold" rating to a "buy" rating and upped their target price for the company from $108.00 to $127.00 in a research report on Friday. Finally, Cantor Fitzgerald assumed coverage on shares of Gilead Sciences in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 price target for the company. Seven investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $114.82.

Gilead Sciences Price Performance

GILD traded down $0.45 during midday trading on Tuesday, hitting $120.02. 6,084,059 shares of the company traded hands, compared to its average volume of 8,406,134. The company has a market capitalization of $148.92 billion, a price-to-earnings ratio of 23.91, a PEG ratio of 0.75 and a beta of 0.33. The business has a 50 day simple moving average of $111.16 and a two-hundred day simple moving average of $107.83. The company has a current ratio of 1.32, a quick ratio of 1.15 and a debt-to-equity ratio of 1.13. Gilead Sciences, Inc. has a 52-week low of $72.67 and a 52-week high of $121.83.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted 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. Gilead Sciences had a return on equity of 50.99% and a net margin of 21.86%. The company had revenue of $7.08 billion for the quarter, compared to analysts' expectations of $6.95 billion. During the same period in the previous year, the firm posted $2.01 EPS. Gilead Sciences's revenue was up 1.4% compared to the same quarter last year. On average, equities analysts forecast that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

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

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.