Verity Asset Management Inc. Grows Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Verity Asset Management Inc. grew its holdings in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 104.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 24,240 shares of the biopharmaceutical company's stock after acquiring an additional 12,383 shares during the quarter. Gilead Sciences accounts for approximately 1.1% of Verity Asset Management Inc.'s holdings, making the stock its 19th largest holding. Verity Asset Management Inc.'s holdings in Gilead Sciences were worth $2,716,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Redwood Financial Network Corp boosted its stake in Gilead Sciences by 4.0% in the 4th quarter. Redwood Financial Network Corp now owns 2,530 shares of the biopharmaceutical company's stock worth $234,000 after purchasing an additional 98 shares in the last quarter. Nicolet Advisory Services LLC raised its holdings in shares of Gilead Sciences by 2.9% in the fourth quarter. Nicolet Advisory Services LLC now owns 3,580 shares of the biopharmaceutical company's stock worth $322,000 after buying an additional 100 shares during the last quarter. Peak Financial Advisors LLC lifted its stake in shares of Gilead Sciences by 1.7% during the first quarter. Peak Financial Advisors LLC now owns 6,040 shares of the biopharmaceutical company's stock worth $677,000 after buying an additional 100 shares during the period. Perkins Coie Trust Co grew its holdings in shares of Gilead Sciences by 2.6% during the first quarter. Perkins Coie Trust Co now owns 3,880 shares of the biopharmaceutical company's stock valued at $435,000 after buying an additional 100 shares during the last quarter. Finally, Investment Research & Advisory Group Inc. increased its position in shares of Gilead Sciences by 33.3% in the 1st quarter. Investment Research & Advisory Group Inc. now owns 400 shares of the biopharmaceutical company's stock valued at $45,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 83.67% of the company's stock.

Insider Activity

In related news, insider Johanna Mercier sold 28,000 shares of Gilead Sciences stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $107.52, for a total value of $3,010,560.00. Following the completion of the sale, the insider now owns 121,152 shares in the company, valued at approximately $13,026,263.04. This trade represents a 18.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Andrew D. Dickinson sold 2,500 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $106.40, for a total value of $266,000.00. Following the completion of the sale, the chief financial officer now directly owns 168,174 shares in the company, valued at approximately $17,893,713.60. The trade was a 1.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 48,500 shares of company stock valued at $5,236,245 in the last quarter. Insiders own 0.27% of the company's stock.

Wall Street Analysts Forecast Growth

GILD has been the subject of a number of research reports. Cantor Fitzgerald started coverage on Gilead Sciences in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 price target for the company. Morgan Stanley lifted their target price on Gilead Sciences from $130.00 to $135.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Bank of America increased their price target on shares of Gilead Sciences from $116.00 to $126.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Needham & Company LLC reissued a "hold" rating on shares of Gilead Sciences in a research report on Wednesday, May 21st. Finally, Wells Fargo & Company upped their price objective on shares of Gilead Sciences from $120.00 to $140.00 and gave the company an "overweight" rating in a report on Wednesday, March 5th. Nine equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, Gilead Sciences has an average rating of "Moderate Buy" and an average target price of $110.55.

Gilead Sciences Stock Up 2.8%

NASDAQ GILD opened at $110.67 on Monday. The business's fifty day simple moving average is $106.39 and its 200-day simple moving average is $103.42. The company has a quick ratio of 1.23, a current ratio of 1.37 and a debt-to-equity ratio of 1.16. The firm has a market cap of $137.67 billion, a PE ratio of 23.30, a P/E/G ratio of 0.72 and a beta of 0.29. Gilead Sciences, Inc. has a 52 week low of $66.01 and a 52 week high of $119.96.

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

Gilead Sciences Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were given a $0.79 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $3.16 dividend on an annualized basis and a yield of 2.86%. Gilead Sciences's dividend payout ratio is currently 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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