Gilead Sciences, Inc. (NASDAQ:GILD) Shares Acquired by Concord Wealth Partners

Concord Wealth Partners raised its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 34.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,355 shares of the biopharmaceutical company’s stock after acquiring an additional 4,684 shares during the quarter. Concord Wealth Partners’ holdings in Gilead Sciences were worth $1,487,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Tompkins Financial Corp boosted its position in shares of Gilead Sciences by 223.1% during the 3rd quarter. Tompkins Financial Corp now owns 349 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 241 shares in the last quarter. OFI Invest Asset Management purchased a new stake in shares of Gilead Sciences in the 3rd quarter valued at about $26,000. Fortitude Family Office LLC purchased a new stake in shares of Gilead Sciences in the 4th quarter valued at about $29,000. Rakuten Securities Inc. purchased a new stake in shares of Gilead Sciences in the 4th quarter valued at about $33,000. Finally, Financial Connections Group Inc. purchased a new stake in shares of Gilead Sciences in the 4th quarter valued at about $40,000. 83.67% of the stock is owned by institutional investors and hedge funds.

Gilead Sciences Price Performance

NASDAQ:GILD traded up $0.60 during trading hours on Wednesday, reaching $65.80. 3,567,341 shares of the company traded hands, compared to its average volume of 7,431,926. The firm’s 50-day moving average is $71.03 and its 200-day moving average is $76.08. The stock has a market cap of $81.93 billion, a P/E ratio of 180.53, a P/E/G ratio of 1.30 and a beta of 0.19. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.98 and a quick ratio of 0.72. Gilead Sciences, Inc. has a 1-year low of $64.63 and a 1-year high of $87.86.

Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) EPS for the quarter, beating analysts’ consensus estimates of ($1.49) by $0.17. The firm had revenue of $6.69 billion for the quarter, compared to analysts’ expectations of $6.36 billion. Gilead Sciences had a return on equity of 24.34% and a net margin of 1.76%. Gilead Sciences’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.37 EPS. Equities research analysts expect that Gilead Sciences, Inc. will post 3.79 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 Thursday, June 27th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 4.68%. The ex-dividend date of this dividend is Friday, June 14th. Gilead Sciences’s dividend payout ratio (DPR) is 855.56%.

Wall Street Analysts Forecast Growth

GILD has been the subject of several research reports. Truist Financial downgraded Gilead Sciences from a “buy” rating to a “hold” rating and reduced their target price for the company from $91.00 to $82.00 in a report on Thursday, February 22nd. Morgan Stanley reduced their price objective on Gilead Sciences from $80.00 to $78.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. UBS Group reduced their price objective on Gilead Sciences from $81.00 to $75.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. Mizuho reduced their price objective on Gilead Sciences from $101.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. Finally, HSBC raised Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 price objective for the company in a research note on Wednesday, April 24th. Eleven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $83.69.

Insider Transactions at Gilead Sciences

In related news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $72.96, for a total value of $145,920.00. Following the transaction, the insider now directly owns 96,304 shares of the company’s stock, valued at approximately $7,026,339.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.29% 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.