Range Financial Group LLC Increases Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Range Financial Group LLC grew its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 50.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 15,951 shares of the biopharmaceutical company's stock after buying an additional 5,325 shares during the period. Range Financial Group LLC's holdings in Gilead Sciences were worth $1,787,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Newbridge Financial Services Group Inc. purchased a new stake in Gilead Sciences during the 4th quarter worth $33,000. Annis Gardner Whiting Capital Advisors LLC boosted its position in Gilead Sciences by 158.8% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 352 shares of the biopharmaceutical company's stock valued at $33,000 after buying an additional 216 shares during the last quarter. Morton Brown Family Wealth LLC purchased a new position in Gilead Sciences in the 4th quarter valued at about $35,000. Whipplewood Advisors LLC purchased a new position in Gilead Sciences in the 4th quarter valued at about $35,000. Finally, Synergy Investment Management LLC purchased a new position in Gilead Sciences in the 4th quarter valued at about $40,000. 83.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on GILD shares. Bank of America upped their target price on shares of Gilead Sciences from $116.00 to $126.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. Oppenheimer cut their target price on shares of Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. DZ Bank upgraded shares of Gilead Sciences from a "hold" rating to a "buy" rating and set a $108.00 target price on the stock in a research note on Thursday, February 13th. JPMorgan Chase & Co. upped their target price on shares of Gilead Sciences from $120.00 to $130.00 and gave the company an "overweight" rating in a research note on Thursday, March 27th. Finally, Morgan Stanley upped their target price on shares of Gilead Sciences from $130.00 to $135.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Nine investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $110.55.

Insiders Place Their Bets

In other Gilead Sciences news, insider Johanna Mercier sold 28,000 shares of the company's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $107.52, for a total value of $3,010,560.00. Following the transaction, the insider now owns 121,152 shares of the company's stock, valued at approximately $13,026,263.04. This represents a 18.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Daniel Patrick O'day sold 10,000 shares of the company's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $110.42, for a total value of $1,104,200.00. Following the completion of the transaction, 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 sold 43,000 shares of company stock worth $4,630,310 over the last ninety days. Company insiders own 0.27% of the company's stock.

Gilead Sciences Trading Up 1.8%

Gilead Sciences stock opened at $112.46 on Monday. Gilead Sciences, Inc. has a 12-month low of $62.69 and a 12-month high of $119.96. 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 stock has a market capitalization of $139.89 billion, a PE ratio of 303.95, a price-to-earnings-growth ratio of 0.71 and a beta of 0.29. The firm has a 50 day simple moving average of $105.39 and a 200-day simple moving average of $101.64.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, topping analysts' consensus estimates of $1.77 by $0.04. The firm had revenue of $6.67 billion during 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% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.32) earnings per share. As a group, equities research analysts expect that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a $0.79 dividend. The ex-dividend date is Friday, June 13th. This represents a $3.16 dividend on an annualized basis and a yield of 2.81%. Gilead Sciences's dividend payout ratio (DPR) is 66.53%.

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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