Wealthstar Advisors LLC Purchases New Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Wealthstar Advisors LLC purchased a new stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 12,744 shares of the biopharmaceutical company's stock, valued at approximately $1,428,000.

Several other institutional investors also recently bought and sold shares of the stock. Avidian Wealth Enterprises LLC grew its holdings in Gilead Sciences by 5.5% in the first quarter. Avidian Wealth Enterprises LLC now owns 9,677 shares of the biopharmaceutical company's stock valued at $1,084,000 after purchasing an additional 504 shares during the period. Essex Financial Services Inc. grew its holdings in Gilead Sciences by 2.6% in the first quarter. Essex Financial Services Inc. now owns 6,060 shares of the biopharmaceutical company's stock valued at $679,000 after purchasing an additional 153 shares during the period. Stonebridge Financial Group LLC boosted its stake in shares of Gilead Sciences by 386.5% in the first quarter. Stonebridge Financial Group LLC now owns 2,880 shares of the biopharmaceutical company's stock worth $323,000 after acquiring an additional 2,288 shares during the last quarter. Hills Bank & Trust Co acquired a new stake in shares of Gilead Sciences in the first quarter worth approximately $131,000. Finally, Northcape Wealth Management LLC acquired a new stake in shares of Gilead Sciences in the first quarter worth approximately $230,000. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on Gilead Sciences from $120.00 to $130.00 and gave the stock an "overweight" rating in a research note on Thursday, March 27th. Morgan Stanley boosted their price objective on Gilead Sciences from $130.00 to $135.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Wells Fargo & Company boosted their price objective on Gilead Sciences from $120.00 to $140.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 5th. Oppenheimer lowered their price objective on Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Finally, Bank of America boosted their price objective on Gilead Sciences from $116.00 to $126.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. 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. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $110.55.

Gilead Sciences Stock Up 2.8%

Shares of NASDAQ GILD opened at $110.67 on Friday. The stock has a market cap of $137.67 billion, a PE ratio of 23.30, a price-to-earnings-growth ratio of 0.72 and a beta of 0.29. The company has a quick ratio of 1.23, a current ratio of 1.37 and a debt-to-equity ratio of 1.16. Gilead Sciences, Inc. has a 52-week low of $66.01 and a 52-week high of $119.96. The business has a 50-day moving average price of $106.39 and a 200 day moving average price of $103.35.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.77 by $0.04. The firm had revenue of $6.67 billion during the quarter, compared to analysts' expectations of $6.77 billion. Gilead Sciences had a return on equity of 51.93% and a net margin of 20.76%. The business's revenue was down .3% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.32) EPS. Equities research analysts forecast that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date of this dividend was Friday, June 13th. Gilead Sciences's dividend payout ratio (DPR) is 66.53%.

Insider Transactions at Gilead Sciences

In related news, CFO Andrew D. Dickinson sold 2,500 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $99.82, for a total value of $249,550.00. Following the completion of the transaction, the chief financial officer now directly owns 165,674 shares of the company's stock, valued at $16,537,578.68. This trade represents a 1.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Johanna Mercier sold 28,000 shares of the firm's 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 transaction, the insider now directly owns 121,152 shares of the company's stock, valued at $13,026,263.04. The trade was a 18.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 48,500 shares of company stock valued at $5,236,245. Corporate 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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