Beta Wealth Group Inc. Raises Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Beta Wealth Group Inc. raised its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 11.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,521 shares of the biopharmaceutical company’s stock after buying an additional 802 shares during the period. Beta Wealth Group Inc.’s holdings in Gilead Sciences were worth $631,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. TFB Advisors LLC boosted its holdings in Gilead Sciences by 1.2% during the 3rd quarter. TFB Advisors LLC now owns 9,397 shares of the biopharmaceutical company’s stock valued at $788,000 after acquiring an additional 116 shares during the period. Sumitomo Life Insurance Co. boosted its stake in shares of Gilead Sciences by 0.7% during the third quarter. Sumitomo Life Insurance Co. now owns 17,822 shares of the biopharmaceutical company’s stock valued at $1,494,000 after purchasing an additional 117 shares during the period. Sivia Capital Partners LLC grew its holdings in shares of Gilead Sciences by 3.9% in the third quarter. Sivia Capital Partners LLC now owns 3,249 shares of the biopharmaceutical company’s stock worth $272,000 after purchasing an additional 123 shares during the last quarter. Roberts Wealth Advisors LLC increased its stake in shares of Gilead Sciences by 1.9% in the third quarter. Roberts Wealth Advisors LLC now owns 7,035 shares of the biopharmaceutical company’s stock worth $599,000 after buying an additional 130 shares during the period. Finally, Wagner Wealth Management LLC raised its holdings in Gilead Sciences by 1.7% during the 3rd quarter. Wagner Wealth Management LLC now owns 8,026 shares of the biopharmaceutical company’s stock valued at $673,000 after buying an additional 135 shares during the last quarter. 83.67% of the stock is owned by institutional investors.

Gilead Sciences Stock Down 1.4 %

Shares of Gilead Sciences stock opened at $96.57 on Friday. The company has a 50-day simple moving average of $85.30 and a two-hundred day simple moving average of $75.03. Gilead Sciences, Inc. has a 52-week low of $62.07 and a 52-week high of $98.32. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.95 and a current ratio of 1.14. The stock has a market capitalization of $120.22 billion, a PE ratio of 1,072.94, a price-to-earnings-growth ratio of 3.19 and a beta of 0.17.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, beating the consensus estimate of $1.58 by $0.44. Gilead Sciences had a return on equity of 28.60% and a net margin of 0.45%. The business had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.01 billion. During the same period last year, the business posted $2.29 EPS. The company’s revenue was up 7.0% compared to the same quarter last year. On average, analysts anticipate that Gilead Sciences, Inc. will post 3.76 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be paid a $0.77 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.19%. Gilead Sciences’s dividend payout ratio is presently 3,422.22%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on GILD shares. The Goldman Sachs Group boosted their price objective on shares of Gilead Sciences from $74.00 to $84.00 and gave the company a “neutral” rating in a research report on Thursday. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a report on Thursday. Barclays increased their price objective on Gilead Sciences from $84.00 to $95.00 and gave the stock an “equal weight” rating in a report on Thursday. Truist Financial upped their target price on Gilead Sciences from $83.00 to $97.00 and gave the company a “hold” rating in a report on Friday. Finally, Evercore ISI raised Gilead Sciences to a “strong-buy” rating in a research note on Friday, August 9th. Twelve equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $90.71.

Insider Activity

In related news, insider Johanna Mercier sold 29,357 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total value of $2,459,529.46. Following the sale, the insider now owns 78,127 shares in the company, valued at approximately $6,545,480.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Gilead Sciences news, insider Johanna Mercier sold 29,357 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $83.78, for a total value of $2,459,529.46. Following the transaction, the insider now directly owns 78,127 shares of the company’s stock, valued at approximately $6,545,480.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total transaction of $167,660.00. Following the sale, the insider now directly owns 100,189 shares of the company’s stock, valued at $8,398,843.87. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 62,437 shares of company stock valued at $5,374,825 over the last three months. Insiders own 0.16% 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.