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

Obermeyer Wealth Partners acquired a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,894 shares of the biopharmaceutical company's stock, valued at approximately $324,000.

Several other hedge funds also recently made changes to their positions in the company. HighPoint Advisor Group LLC lifted its stake in shares of Gilead Sciences by 0.6% in the first quarter. HighPoint Advisor Group LLC now owns 19,067 shares of the biopharmaceutical company's stock valued at $1,987,000 after purchasing an additional 105 shares during the period. Crestwood Advisors Group LLC increased its holdings in Gilead Sciences by 3.2% during the 1st quarter. Crestwood Advisors Group LLC now owns 14,957 shares of the biopharmaceutical company's stock valued at $1,676,000 after acquiring an additional 460 shares in the last quarter. GW&K Investment Management LLC increased its holdings in Gilead Sciences by 23.9% during the 1st quarter. GW&K Investment Management LLC now owns 778 shares of the biopharmaceutical company's stock valued at $87,000 after acquiring an additional 150 shares in the last quarter. Los Angeles Capital Management LLC increased its holdings in Gilead Sciences by 422.6% during the 1st quarter. Los Angeles Capital Management LLC now owns 2,523,036 shares of the biopharmaceutical company's stock valued at $282,706,000 after acquiring an additional 2,040,261 shares in the last quarter. Finally, Meridian Wealth Advisors LLC purchased a new position in Gilead Sciences during the 1st quarter valued at about $228,000. Institutional investors and hedge funds own 83.67% of the company's stock.

Wall Street Analysts Forecast Growth

GILD has been the subject of a number of recent analyst reports. Needham & Company LLC restated a "hold" rating on shares of Gilead Sciences in a report on Wednesday, May 21st. Cantor Fitzgerald began 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 on the stock. Oppenheimer reduced their price target on shares of Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Morgan Stanley lifted their price target on shares of Gilead Sciences from $130.00 to $135.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Gilead Sciences from $120.00 to $130.00 and gave the company an "overweight" rating in a research report on Thursday, March 27th. Nine analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $111.38.

Gilead Sciences Stock Up 1.7%

Shares of NASDAQ:GILD opened at $110.17 on Wednesday. Gilead Sciences, Inc. has a 52 week low of $70.78 and a 52 week high of $119.96. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.23 and a current ratio of 1.37. The company's fifty day moving average is $108.81 and its 200-day moving average is $105.35. The company has a market capitalization of $137.04 billion, a PE ratio of 23.19, a P/E/G ratio of 0.70 and a beta of 0.29.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.04. The business had revenue of $6.67 billion for the quarter, compared to the consensus estimate of $6.77 billion. Gilead Sciences had a net margin of 20.76% and a return on equity of 51.93%. The firm's quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.32) EPS. Equities research analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Johanna Mercier sold 3,000 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 $333,090.00. Following the completion of the sale, the insider directly owned 117,168 shares of the company's stock, valued at $13,009,163.04. This represents a 2.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Daniel Patrick O'day sold 10,000 shares of the stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $110.45, for a total value of $1,104,500.00. Following the sale, the chief executive officer directly owned 615,725 shares of the company's stock, valued at approximately $68,006,826.25. The trade was a 1.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,000 shares of company stock valued at $7,844,775. Insiders own 0.27% of the company's stock.

About Gilead Sciences

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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