Modern Wealth Management LLC Has $550,000 Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Modern Wealth Management LLC increased its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 84.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 5,764 shares of the biopharmaceutical company’s stock after purchasing an additional 2,645 shares during the period. Modern Wealth Management LLC’s holdings in Gilead Sciences were worth $550,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. HHM Wealth Advisors LLC grew its position in Gilead Sciences by 118.5% during the fourth quarter. HHM Wealth Advisors LLC now owns 284 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 154 shares in the last quarter. YANKCOM Partnership acquired a new stake in shares of Gilead Sciences during the 4th quarter valued at $28,000. Decker Retirement Planning Inc. purchased a new position in shares of Gilead Sciences during the 4th quarter valued at $29,000. Crews Bank & Trust acquired a new position in shares of Gilead Sciences in the fourth quarter worth $31,000. Finally, Stephens Consulting LLC raised its holdings in shares of Gilead Sciences by 325.0% during the fourth quarter. Stephens Consulting LLC now owns 340 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 260 shares in the last quarter. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Andrew D. Dickinson sold 2,500 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $91.35, for a total value of $228,375.00. Following the completion of the transaction, the chief financial officer now directly owns 129,873 shares of the company’s stock, valued at approximately $11,863,898.55. This represents a 1.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 302,785 shares of company stock worth $30,503,250 over the last quarter. Company insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $80.00 target price on shares of Gilead Sciences in a research report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft raised Gilead Sciences from a “hold” rating to a “buy” rating and boosted their price target for the company from $80.00 to $120.00 in a research note on Tuesday, February 18th. BMO Capital Markets raised their price objective on shares of Gilead Sciences from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a research report on Wednesday, February 12th. Finally, Oppenheimer raised their price target on shares of Gilead Sciences from $115.00 to $132.00 and gave the company an “outperform” rating in a report on Tuesday, March 4th. Eleven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $105.12.

Gilead Sciences Price Performance

Shares of NASDAQ:GILD opened at $111.16 on Friday. The firm has a market capitalization of $138.43 billion, a PE ratio of 300.43, a PEG ratio of 0.71 and a beta of 0.21. The company has a current ratio of 1.50, a quick ratio of 1.20 and a debt-to-equity ratio of 1.24. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $119.96. The business’s 50 day moving average is $105.08 and its 200-day moving average is $94.58.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.23. Gilead Sciences had a net margin of 1.67% and a return on equity of 31.63%. Sell-side analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 2.84%. The ex-dividend date is Friday, March 14th. This is a positive change from Gilead Sciences’s previous quarterly dividend of $0.77. Gilead Sciences’s dividend payout ratio is 854.05%.

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.