Drive Wealth Management LLC Purchases New Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Drive Wealth Management LLC purchased a new stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) in the 4th quarter, Holdings Channel reports. The fund purchased 3,139 shares of the biopharmaceutical company’s stock, valued at approximately $290,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Avior Wealth Management LLC lifted its holdings in Gilead Sciences by 1.2% during the 3rd quarter. Avior Wealth Management LLC now owns 9,422 shares of the biopharmaceutical company’s stock valued at $782,000 after purchasing an additional 108 shares during the last quarter. Southland Equity Partners LLC lifted its holdings in Gilead Sciences by 3.6% during the 4th quarter. Southland Equity Partners LLC now owns 3,128 shares of the biopharmaceutical company’s stock valued at $289,000 after purchasing an additional 110 shares during the last quarter. Concord Asset Management LLC VA lifted its holdings in Gilead Sciences by 3.8% during the 3rd quarter. Concord Asset Management LLC VA now owns 3,056 shares of the biopharmaceutical company’s stock valued at $256,000 after purchasing an additional 111 shares during the last quarter. TFB Advisors LLC raised its stake in shares of Gilead Sciences by 1.2% in the third quarter. TFB Advisors LLC now owns 9,397 shares of the biopharmaceutical company’s stock worth $788,000 after acquiring an additional 116 shares during the last quarter. Finally, Sumitomo Life Insurance Co. raised its stake in shares of Gilead Sciences by 0.7% in the third quarter. Sumitomo Life Insurance Co. now owns 17,822 shares of the biopharmaceutical company’s stock worth $1,494,000 after acquiring an additional 117 shares during the last quarter. 83.67% of the stock is owned by institutional investors.

Gilead Sciences Stock Performance

NASDAQ GILD opened at $95.35 on Tuesday. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24. The firm’s fifty day moving average price is $91.74 and its two-hundred day moving average price is $85.09. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $98.90. The firm has a market capitalization of $118.83 billion, a P/E ratio of 1,059.44, a price-to-earnings-growth ratio of 1.31 and a beta of 0.18.

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

Gilead Sciences Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were given a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 3.23%. The ex-dividend date was Friday, December 13th. Gilead Sciences’s payout ratio is presently 3,422.22%.

Insider Activity

In other news, CFO Andrew D. Dickinson sold 248,645 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $92.76, for a total value of $23,064,310.20. Following the transaction, the chief financial officer now directly owns 138,919 shares of the company’s stock, valued at $12,886,126.44. This represents a 64.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey Bluestone sold 6,788 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $91.39, for a total transaction of $620,355.32. Following the completion of the transaction, the director now owns 8,920 shares in the company, valued at $815,198.80. This trade represents a 43.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 456,234 shares of company stock valued at $42,130,461 over the last ninety days. 0.16% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Mizuho boosted their target price on shares of Gilead Sciences from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Oppenheimer boosted their target price on shares of Gilead Sciences from $105.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. JPMorgan Chase & Co. boosted their target price on shares of Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research note on Thursday, November 7th. Finally, Daiwa America raised shares of Gilead Sciences to a “hold” rating in a research note on Monday, November 18th. Eleven research analysts have rated the stock with a hold rating, thirteen have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $97.96.

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.