Significant Wealth Partners LLC Makes New Investment in Gilead Sciences, Inc. (NASDAQ:GILD)

Significant Wealth Partners LLC bought a new position in Gilead Sciences, Inc. (NASDAQ:GILD) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 16,700 shares of the biopharmaceutical company’s stock, valued at approximately $1,353,000.

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

Insiders Place Their Bets

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $72.96, for a total transaction of $145,920.00. Following the completion of the transaction, the insider now owns 96,304 shares in the company, valued at $7,026,339.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on GILD. Mizuho cut their target price on shares of Gilead Sciences from $101.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. Barclays dropped their price objective on shares of Gilead Sciences from $85.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, February 12th. Royal Bank of Canada dropped their price objective on shares of Gilead Sciences from $76.00 to $75.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 14th. Oppenheimer restated an “outperform” rating and issued a $105.00 target price on shares of Gilead Sciences in a research report on Friday. Finally, Cantor Fitzgerald dropped their target price on shares of Gilead Sciences from $80.00 to $78.00 and set a “neutral” rating for the company in a research report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $84.71.

Gilead Sciences Stock Performance

GILD traded up $0.49 during trading on Monday, hitting $67.25. 1,728,227 shares of the company traded hands, compared to its average volume of 7,277,996. The firm has a market cap of $83.73 billion, a P/E ratio of 14.91, a price-to-earnings-growth ratio of 0.92 and a beta of 0.19. The stock’s fifty day moving average is $71.96 and its 200 day moving average is $76.57. The company has a quick ratio of 1.27, a current ratio of 1.43 and a debt-to-equity ratio of 1.08. Gilead Sciences, Inc. has a one year low of $65.90 and a one year high of $87.86.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Tuesday, February 6th. The biopharmaceutical company reported $1.72 earnings per share for the quarter, missing the consensus estimate of $1.76 by ($0.04). The company had revenue of $7.12 billion for the quarter, compared to the consensus estimate of $7.10 billion. Gilead Sciences had a net margin of 20.89% and a return on equity of 38.85%. Gilead Sciences’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.67 EPS. As a group, equities analysts predict that Gilead Sciences, Inc. will post 6.55 EPS for the current fiscal year.

Gilead Sciences Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 4.58%. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Gilead Sciences’s previous quarterly dividend of $0.75. Gilead Sciences’s dividend payout ratio (DPR) is currently 68.44%.

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.