Gilead Sciences, Inc. (NASDAQ:GILD) Shares Acquired by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC boosted its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 8.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,923 shares of the biopharmaceutical company’s stock after acquiring an additional 1,628 shares during the period. Kingsview Wealth Management LLC’s holdings in Gilead Sciences were worth $1,670,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Cerity Partners LLC grew its stake in Gilead Sciences by 24.3% in the third quarter. Cerity Partners LLC now owns 253,872 shares of the biopharmaceutical company’s stock worth $21,285,000 after purchasing an additional 49,604 shares in the last quarter. Meridian Wealth Management LLC acquired a new position in shares of Gilead Sciences in the 3rd quarter worth approximately $3,559,000. Icon Wealth Advisors LLC increased its holdings in shares of Gilead Sciences by 1,281.3% in the 3rd quarter. Icon Wealth Advisors LLC now owns 19,684 shares of the biopharmaceutical company’s stock valued at $1,650,000 after acquiring an additional 18,259 shares during the last quarter. Asset Management Group Inc. acquired a new stake in shares of Gilead Sciences during the 3rd quarter valued at approximately $208,000. Finally, CFS Investment Advisory Services LLC lifted its stake in Gilead Sciences by 1.9% during the third quarter. CFS Investment Advisory Services LLC now owns 11,183 shares of the biopharmaceutical company’s stock worth $938,000 after purchasing an additional 210 shares during the last quarter. 83.67% of the stock is currently owned by institutional investors.

Insider Activity at Gilead Sciences

In other news, insider Johanna Mercier sold 29,357 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $83.78, for a total value of $2,459,529.46. Following the completion of the sale, the insider now owns 78,127 shares of the company’s stock, valued at $6,545,480.06. This trade represents a 27.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total value of $167,660.00. Following the transaction, the insider now directly owns 100,189 shares in the company, valued at $8,398,843.87. The trade was a 1.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 56,947 shares of company stock worth $4,968,674. 0.29% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

GILD has been the subject of several recent research reports. Piper Sandler boosted their target price on shares of Gilead Sciences from $95.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Cantor Fitzgerald boosted their price objective on shares of Gilead Sciences from $70.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Sanford C. Bernstein began coverage on shares of Gilead Sciences in a report on Thursday, October 17th. They issued an “outperform” rating and a $105.00 target price on the stock. The Goldman Sachs Group upped their target price on Gilead Sciences from $74.00 to $84.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Wolfe Research assumed coverage on Gilead Sciences in a report on Friday, November 15th. They issued an “outperform” rating and a $110.00 price target on the stock. Twelve analysts have rated the stock with a hold rating, eleven have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $95.41.

Gilead Sciences Trading Up 0.3 %

Gilead Sciences stock opened at $90.49 on Tuesday. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $98.90. The firm’s 50 day moving average price is $87.58 and its two-hundred day moving average price is $77.13. The firm has a market cap of $112.77 billion, a price-to-earnings ratio of 1,005.44, a price-to-earnings-growth ratio of 2.80 and a beta of 0.17. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.10 and a current ratio of 1.26.

Gilead Sciences (NASDAQ:GILD) last announced 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. The company had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.01 billion. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. Gilead Sciences’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.29 earnings per share. On average, research analysts predict that Gilead Sciences, Inc. will post 4.37 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.77 per share. The ex-dividend date is Friday, December 13th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.40%. Gilead Sciences’s dividend payout ratio is currently 3,422.22%.

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.