Worth Asset Management LLC Acquires 5,626 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Worth Asset Management LLC increased its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 62.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,589 shares of the biopharmaceutical company's stock after purchasing an additional 5,626 shares during the period. Gilead Sciences accounts for approximately 0.9% of Worth Asset Management LLC's portfolio, making the stock its 27th largest position. Worth Asset Management LLC's holdings in Gilead Sciences were worth $1,635,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC grew its position in Gilead Sciences by 20.6% during the 4th quarter. Brighton Jones LLC now owns 14,359 shares of the biopharmaceutical company's stock worth $1,326,000 after purchasing an additional 2,450 shares during the last quarter. Strategic Blueprint LLC increased its position in shares of Gilead Sciences by 7.5% in the fourth quarter. Strategic Blueprint LLC now owns 2,750 shares of the biopharmaceutical company's stock valued at $254,000 after buying an additional 192 shares in the last quarter. Crews Bank & Trust acquired a new stake in Gilead Sciences during the 4th quarter valued at $31,000. Clear Creek Financial Management LLC purchased a new position in shares of Gilead Sciences during the fourth quarter valued at approximately $1,173,000. Finally, Waldron Private Wealth LLC lifted its holdings in shares of Gilead Sciences by 3.3% during the 4th quarter. Waldron Private Wealth LLC now owns 10,229 shares of the biopharmaceutical company's stock worth $945,000 after acquiring an additional 327 shares during the period. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on GILD. The Goldman Sachs Group boosted their price objective on shares of Gilead Sciences from $85.00 to $96.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 12th. Bank of America lifted their price objective 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. Piper Sandler boosted their price target on Gilead Sciences from $105.00 to $110.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Wells Fargo & Company increased their price objective on Gilead Sciences from $120.00 to $140.00 and gave the company an "overweight" rating in a research report on Wednesday, March 5th. Finally, Cantor Fitzgerald started coverage on shares of Gilead Sciences in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 target price for the company. Nine equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $110.55.

Gilead Sciences Price Performance

Shares of NASDAQ GILD traded up $0.42 during midday trading on Tuesday, reaching $109.33. 9,875,443 shares of the company were exchanged, compared to its average volume of 7,732,483. The stock's 50-day moving average price is $105.49 and its 200-day moving average price is $101.04. The stock has a market cap of $136.00 billion, a P/E ratio of 295.49, a PEG ratio of 0.71 and a beta of 0.26. The company has a quick ratio of 1.20, a current ratio of 1.50 and a debt-to-equity ratio of 1.24. Gilead Sciences, Inc. has a one year low of $62.69 and a one year high of $119.96.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.04. Gilead Sciences had a return on equity of 31.63% and a net margin of 1.67%. The company had revenue of $6.67 billion for the quarter, compared to analysts' expectations of $6.77 billion. During the same period in the previous year, the business posted ($1.32) earnings per share. The business's quarterly revenue was down .3% compared to the same quarter last year. On average, sell-side analysts anticipate that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be given a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend is Friday, June 13th. Gilead Sciences's dividend payout ratio (DPR) is presently 66.53%.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 17,929 shares of Gilead Sciences stock in a transaction on Monday, March 10th. The shares were sold at an average price of $118.17, for a total value of $2,118,669.93. Following the completion of the sale, the chief financial officer now directly owns 169,061 shares of the company's stock, valued at approximately $19,977,938.37. The trade was a 9.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Johanna Mercier sold 28,000 shares of Gilead Sciences stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $107.52, for a total transaction of $3,010,560.00. Following the transaction, the insider now owns 121,152 shares of the company's stock, valued at $13,026,263.04. This represents a 18.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 60,929 shares of company stock worth $6,748,980 in the last 90 days. Corporate insiders own 0.27% of the company's stock.

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.