Gilead Sciences, Inc. (NASDAQ:GILD) Stake Boosted by Stone Summit Wealth LLC

Stone Summit Wealth LLC increased its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 6.0% in the 1st quarter, Holdings Channel.com reports. The fund owned 32,348 shares of the biopharmaceutical company’s stock after buying an additional 1,845 shares during the quarter. Gilead Sciences comprises about 1.2% of Stone Summit Wealth LLC’s holdings, making the stock its 27th biggest position. Stone Summit Wealth LLC’s holdings in Gilead Sciences were worth $3,625,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC raised its position in Gilead Sciences by 158.8% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 352 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 216 shares in the last quarter. Whipplewood Advisors LLC bought a new position in shares of Gilead Sciences during the 4th quarter valued at $35,000. Synergy Investment Management LLC acquired a new stake in shares of Gilead Sciences in the 4th quarter valued at $40,000. Lee Danner & Bass Inc. acquired a new stake in shares of Gilead Sciences in the 4th quarter valued at $41,000. Finally, Investment Research & Advisory Group Inc. boosted its holdings in Gilead Sciences by 33.3% in the first quarter. Investment Research & Advisory Group Inc. now owns 400 shares of the biopharmaceutical company’s stock worth $45,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 83.67% of the company’s stock.

Gilead Sciences Stock Up 1.6%

GILD opened at $107.62 on Friday. The company has a market capitalization of $133.87 billion, a P/E ratio of 22.66, a P/E/G ratio of 0.69 and a beta of 0.29. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.37 and a quick ratio of 1.23. The firm’s fifty day moving average price is $106.27 and its two-hundred day moving average price is $103.15. Gilead Sciences, Inc. has a fifty-two week low of $66.01 and a fifty-two week high of $119.96.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.04. Gilead Sciences had a net margin of 20.76% and a return on equity of 51.93%. The business had revenue of $6.67 billion for the quarter, compared to analyst estimates of $6.77 billion. During the same period in the previous year, the business earned ($1.32) EPS. The firm’s revenue was down .3% on a year-over-year basis. On average, analysts anticipate that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be issued a $0.79 dividend. The ex-dividend date is Friday, June 13th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.94%. Gilead Sciences’s payout ratio is presently 66.53%.

Analyst Ratings Changes

GILD has been the subject of a number of analyst reports. Oppenheimer reduced their price target on Gilead Sciences from $132.00 to $125.00 and set an “outperform” rating for the company in a research report on Friday, April 25th. Wells Fargo & Company boosted their target price on Gilead Sciences from $120.00 to $140.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Bank of America increased their price target on Gilead Sciences from $116.00 to $126.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Cantor Fitzgerald began coverage on shares of Gilead Sciences in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $125.00 price objective for the company. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a research note on Wednesday, May 21st. Nine research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, Gilead Sciences currently has an average rating of “Moderate Buy” and a consensus price target of $110.55.

Insider Buying and Selling

In related news, CEO Daniel Patrick O’day sold 10,000 shares of Gilead Sciences stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $110.42, for a total transaction of $1,104,200.00. Following the completion of the transaction, the chief executive officer now directly owns 620,268 shares of the company’s stock, valued at $68,489,992.56. This trade represents a 1.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Andrew D. Dickinson sold 2,500 shares of the company’s stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $106.40, for a total transaction of $266,000.00. Following the sale, the chief financial officer now directly owns 168,174 shares in the company, valued at $17,893,713.60. This represents a 1.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 48,500 shares of company stock worth $5,236,245 in the last 90 days. 0.27% of the stock is owned by company insiders.

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, 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.