Kingswood Wealth Advisors LLC bought a new stake in Gilead Sciences, Inc. (NASDAQ:GILD – Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,347 shares of the biopharmaceutical company’s stock, valued at approximately $258,000.
Other hedge funds have also recently bought and sold shares of the company. WealthPlan Investment Management LLC raised its position in Gilead Sciences by 121.2% during the second quarter. WealthPlan Investment Management LLC now owns 2,070 shares of the biopharmaceutical company’s stock worth $971,000 after acquiring an additional 1,134 shares during the last quarter. American Trust purchased a new stake in Gilead Sciences during the 1st quarter worth $289,000. Venturi Wealth Management LLC purchased a new stake in shares of Gilead Sciences during the 1st quarter valued at about $36,000. Savant Capital LLC raised its stake in shares of Gilead Sciences by 1.3% during the second quarter. Savant Capital LLC now owns 26,776 shares of the biopharmaceutical company’s stock valued at $2,064,000 after purchasing an additional 356 shares during the period. Finally, Q3 Asset Management lifted its holdings in Gilead Sciences by 76.5% in the 2nd quarter. Q3 Asset Management now owns 22,493 shares of the biopharmaceutical company’s stock worth $1,733,000 after buying an additional 9,746 shares in the last quarter. 82.33% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other news, insider Merdad Parsey sold 1,501 shares of the company’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $76.99, for a total transaction of $115,561.99. Following the completion of the sale, the insider now directly owns 70,130 shares of the company’s stock, valued at $5,399,308.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Merdad Parsey sold 1,501 shares of Gilead Sciences stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $76.99, for a total value of $115,561.99. Following the transaction, the insider now directly owns 70,130 shares of the company’s stock, valued at $5,399,308.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Andrew D. Dickinson sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 17th. The shares were sold at an average price of $80.00, for a total transaction of $400,000.00. Following the completion of the sale, the chief financial officer now owns 104,003 shares of the company’s stock, valued at approximately $8,320,240. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.
Gilead Sciences Price Performance
Gilead Sciences (NASDAQ:GILD – Get Free Report) last released its earnings results on Tuesday, November 7th. The biopharmaceutical company reported $2.29 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.38. The business had revenue of $7.05 billion for the quarter, compared to the consensus estimate of $6.81 billion. Gilead Sciences had a net margin of 21.45% and a return on equity of 39.30%. The business’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.90 EPS. As a group, sell-side analysts predict that Gilead Sciences, Inc. will post 6.76 earnings per share for the current fiscal year.
Gilead Sciences Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Friday, December 15th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 4.01%. The ex-dividend date is Thursday, December 14th. Gilead Sciences’s dividend payout ratio is presently 64.38%.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on the company. StockNews.com assumed coverage on Gilead Sciences in a research report on Thursday, October 5th. They issued a “strong-buy” rating on the stock. Morgan Stanley increased their price objective on shares of Gilead Sciences from $86.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Friday, August 4th. Royal Bank of Canada lowered their target price on Gilead Sciences from $78.00 to $77.00 and set a “sector perform” rating for the company in a report on Tuesday. Truist Financial reissued a “buy” rating and issued a $91.00 price target on shares of Gilead Sciences in a report on Wednesday, September 6th. Finally, Cantor Fitzgerald reduced their price objective on Gilead Sciences from $85.00 to $80.00 and set a “neutral” rating for the company in a research report on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Gilead Sciences presently has an average rating of “Hold” and an average price target of $88.22.
Gilead Sciences 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, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of coronavirus disease 2019; and Epclusa, Harvoni, Vosevi, Vemlidy, and Viread for the treatment of viral hepatitis.
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