Park Avenue Securities LLC raised its position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 41.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,533 shares of the biopharmaceutical company's stock after buying an additional 11,780 shares during the quarter. Park Avenue Securities LLC's holdings in Gilead Sciences were worth $4,542,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Redwood Financial Network Corp grew its stake in Gilead Sciences by 4.0% during the 4th quarter. Redwood Financial Network Corp now owns 2,530 shares of the biopharmaceutical company's stock valued at $234,000 after purchasing an additional 98 shares in the last quarter. Nicolet Advisory Services LLC grew its stake in Gilead Sciences by 2.9% during the 4th quarter. Nicolet Advisory Services LLC now owns 3,580 shares of the biopharmaceutical company's stock valued at $322,000 after purchasing an additional 100 shares in the last quarter. Peak Financial Advisors LLC grew its stake in Gilead Sciences by 1.7% during the 1st 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 in the last quarter. Perkins Coie Trust Co grew its stake in Gilead Sciences by 2.6% during the 1st 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 in the last quarter. Finally, CFO4Life Group LLC grew its stake in Gilead Sciences by 2.7% during the 4th quarter. CFO4Life Group LLC now owns 4,265 shares of the biopharmaceutical company's stock valued at $394,000 after purchasing an additional 112 shares in the last quarter. Hedge funds and other institutional investors own 83.67% of the company's stock.
Insider Buying and Selling at Gilead Sciences
In other news, CFO Andrew D. Dickinson sold 2,500 shares of the business's stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $106.40, for a total value of $266,000.00. Following the sale, the chief financial officer now owns 168,174 shares of the company's stock, valued at approximately $17,893,713.60. The trade was a 1.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Daniel Patrick O'day sold 10,000 shares of the business's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $110.42, for a total value of $1,104,200.00. Following the completion of the sale, the chief executive officer now directly owns 620,268 shares in the company, valued at $68,489,992.56. This represents a 1.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,000 shares of company stock valued at $4,630,310 in the last quarter. Corporate insiders own 0.27% of the company's stock.
Gilead Sciences Stock Up 1.8%
Shares of Gilead Sciences stock opened at $112.46 on Monday. The business's fifty day moving average price is $105.39 and its two-hundred day moving average price is $101.64. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.50 and a quick ratio of 1.20. The company has a market capitalization of $139.89 billion, a P/E ratio of 303.95, a PEG ratio of 0.71 and a beta of 0.29. Gilead Sciences, Inc. has a 1-year low of $62.69 and a 1-year high of $119.96.
Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.04. The firm had revenue of $6.67 billion for the quarter, compared to the consensus estimate of $6.77 billion. Gilead Sciences had a return on equity of 31.63% and a net margin of 1.67%. The firm's revenue for the quarter was down .3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.32) EPS. As a group, research analysts forecast that Gilead Sciences, Inc. will post 7.95 EPS for the current year.
Gilead Sciences Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 2.81%. The ex-dividend date is Friday, June 13th. Gilead Sciences's payout ratio is currently 66.53%.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on GILD. Wells Fargo & Company raised their price objective on Gilead Sciences from $120.00 to $140.00 and gave the company an "overweight" rating in a research note on Wednesday, March 5th. DZ Bank upgraded Gilead Sciences from a "hold" rating to a "buy" rating and set a $108.00 target price for the company in a research report on Thursday, February 13th. BMO Capital Markets lifted their target price on Gilead Sciences from $110.00 to $115.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. lifted their target price on Gilead Sciences from $120.00 to $130.00 and gave the stock an "overweight" rating in a research report on Thursday, March 27th. Finally, Morgan Stanley lifted their target price on Gilead Sciences from $130.00 to $135.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Nine analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $110.55.
Read Our Latest Stock Analysis on Gilead Sciences
About Gilead Sciences
(
Free Report)
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.
Further Reading
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