Legacy Bridge LLC Takes Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Legacy Bridge LLC bought a new stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD – Get Rating) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 354 shares of the biopharmaceutical company’s stock, valued at approximately $30,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Premier Fund Managers Ltd boosted its position in shares of Gilead Sciences by 62.0% during the 3rd quarter. Premier Fund Managers Ltd now owns 8,746 shares of the biopharmaceutical company’s stock valued at $552,000 after acquiring an additional 3,346 shares during the last quarter. Avantax Planning Partners Inc. bought a new position in shares of Gilead Sciences during the 3rd quarter valued at approximately $229,000. Brookstone Capital Management raised its holdings in Gilead Sciences by 5.7% during the 3rd quarter. Brookstone Capital Management now owns 169,160 shares of the biopharmaceutical company’s stock valued at $11,061,000 after buying an additional 9,145 shares during the period. Gladstone Institutional Advisory LLC raised its holdings in Gilead Sciences by 8.5% during the 3rd quarter. Gladstone Institutional Advisory LLC now owns 15,099 shares of the biopharmaceutical company’s stock valued at $931,000 after buying an additional 1,180 shares during the period. Finally, Moody National Bank Trust Division raised its holdings in Gilead Sciences by 27.7% during the 3rd quarter. Moody National Bank Trust Division now owns 29,923 shares of the biopharmaceutical company’s stock valued at $1,846,000 after buying an additional 6,492 shares during the period. 78.72% of the stock is currently owned by institutional investors.

Insider Activity at Gilead Sciences

In related news, insider Merdad Parsey sold 6,126 shares of the firm’s stock in a transaction dated Monday, March 13th. The stock was sold at an average price of $78.99, for a total transaction of $483,892.74. Following the sale, the insider now owns 70,130 shares of the company’s stock, valued at $5,539,568.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.16% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

GILD has been the topic of several recent research reports. Piper Sandler increased their price target on Gilead Sciences from $111.00 to $112.00 and gave the company an “overweight” rating in a report on Friday, February 3rd. Robert W. Baird increased their price target on Gilead Sciences from $69.00 to $80.00 in a report on Friday, February 3rd. Cowen increased their price target on Gilead Sciences from $90.00 to $95.00 in a report on Friday, February 10th. Royal Bank of Canada decreased their price target on Gilead Sciences from $87.00 to $86.00 and set a “sector perform” rating on the stock in a report on Monday, March 6th. Finally, SVB Leerink increased their price target on Gilead Sciences from $81.00 to $91.00 and gave the company a “market perform” rating in a report on Friday, February 3rd. Nine analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Gilead Sciences presently has an average rating of “Moderate Buy” and an average price target of $89.40.

Gilead Sciences Price Performance

GILD opened at $77.31 on Friday. Gilead Sciences, Inc. has a 12-month low of $57.17 and a 12-month high of $89.74. The company has a current ratio of 1.29, a quick ratio of 1.15 and a debt-to-equity ratio of 1.14. The business’s fifty day simple moving average is $83.20 and its 200-day simple moving average is $78.51. The company has a market capitalization of $96.41 billion, a price-to-earnings ratio of 21.18, a PEG ratio of 0.95 and a beta of 0.38.

Gilead Sciences (NASDAQ:GILD – Get Rating) last posted its quarterly earnings results on Thursday, February 2nd. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.17. Gilead Sciences had a return on equity of 44.46% and a net margin of 16.83%. The business had revenue of $7.39 billion for the quarter, compared to the consensus estimate of $6.63 billion. During the same quarter in the prior year, the company earned $0.69 EPS. The business’s revenue was up 2.0% compared to the same quarter last year. On average, equities research analysts anticipate that Gilead Sciences, Inc. will post 6.86 earnings per share for the current fiscal year.

Gilead Sciences Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 30th. Investors of record on Wednesday, March 15th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Tuesday, March 14th. This represents a $3.00 dividend on an annualized basis and a yield of 3.88%. This is an increase from Gilead Sciences’s previous quarterly dividend of $0.73. Gilead Sciences’s dividend payout ratio (DPR) is presently 82.19%.

Gilead Sciences Profile

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Gilead Sciences, Inc is a biopharmaceutical company, which engages in the research, development, and commercialization of medicines in areas of unmet medical need. The firm’s primary areas of focus include human immunodeficiency virus, acquired immunodeficiency syndrome, liver diseases, hematology, oncology, and inflammation and respiratory diseases.