Drive Wealth Management LLC Invests $290,000 in Gilead Sciences, Inc. (NASDAQ:GILD)

Drive Wealth Management LLC acquired a new stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,139 shares of the biopharmaceutical company’s stock, valued at approximately $290,000.

A number of other institutional investors have also modified their holdings of the business. Bellevue Group AG grew its position in Gilead Sciences by 18.2% in the 3rd quarter. Bellevue Group AG now owns 46,027 shares of the biopharmaceutical company’s stock worth $3,859,000 after purchasing an additional 7,093 shares during the last quarter. Quantinno Capital Management LP grew its position in Gilead Sciences by 149.5% in the 3rd quarter. Quantinno Capital Management LP now owns 81,620 shares of the biopharmaceutical company’s stock worth $6,843,000 after purchasing an additional 48,910 shares during the last quarter. IRON Financial LLC bought a new position in Gilead Sciences in the 3rd quarter worth about $830,000. Capital Investment Advisors LLC grew its position in Gilead Sciences by 2.6% in the 4th quarter. Capital Investment Advisors LLC now owns 387,492 shares of the biopharmaceutical company’s stock worth $35,793,000 after purchasing an additional 9,791 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in Gilead Sciences by 12.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 323,011 shares of the biopharmaceutical company’s stock worth $27,081,000 after purchasing an additional 36,895 shares during the last quarter. Institutional investors own 83.67% of the company’s stock.

Gilead Sciences Stock Up 2.4 %

GILD stock opened at $95.35 on Tuesday. Gilead Sciences, Inc. has a 12-month low of $62.07 and a 12-month high of $98.90. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 1.24. The company has a market cap of $118.83 billion, a price-to-earnings ratio of 1,059.44, a PEG ratio of 1.31 and a beta of 0.18. The company has a 50 day moving average of $91.74 and a two-hundred day moving average of $85.09.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.44. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The company had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.01 billion. During the same quarter in the prior year, the firm earned $2.29 EPS. The company’s revenue was up 7.0% compared to the same quarter last year. On average, equities analysts anticipate that Gilead Sciences, Inc. will post 4.36 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were issued a dividend of $0.77 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.23%. Gilead Sciences’s dividend payout ratio is currently 3,422.22%.

Insider Activity

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 2,500 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $91.35, for a total value of $228,375.00. Following the sale, the chief financial officer now directly owns 129,873 shares in the company, valued at $11,863,898.55. This trade represents a 1.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Merdad Parsey sold 164,211 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $91.92, for a total transaction of $15,094,275.12. Following the completion of the sale, the insider now owns 80,801 shares in the company, valued at $7,427,227.92. This represents a 67.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 456,234 shares of company stock worth $42,130,461. 0.16% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

GILD has been the subject of several recent analyst reports. Wolfe Research initiated coverage on shares of Gilead Sciences in a research report on Friday, November 15th. They issued an “outperform” rating and a $110.00 target price for the company. Leerink Partners upgraded shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $74.00 to $96.00 in a report on Monday, October 21st. Barclays increased their price objective on shares of Gilead Sciences from $84.00 to $95.00 and gave the company an “equal weight” rating in a report on Thursday, November 7th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $84.00 price objective on shares of Gilead Sciences in a report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Gilead Sciences from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Eleven investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $97.96.

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.