Beacon Harbor Wealth Advisors Inc. Acquires 1,586 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Beacon Harbor Wealth Advisors Inc. lifted its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 2.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 71,133 shares of the biopharmaceutical company’s stock after purchasing an additional 1,586 shares during the period. Gilead Sciences comprises 1.7% of Beacon Harbor Wealth Advisors Inc.’s holdings, making the stock its 23rd biggest position. Beacon Harbor Wealth Advisors Inc.’s holdings in Gilead Sciences were worth $5,762,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GILD. Concentrum Wealth Management lifted its holdings in Gilead Sciences by 6.5% during the fourth quarter. Concentrum Wealth Management now owns 6,766 shares of the biopharmaceutical company’s stock worth $548,000 after buying an additional 413 shares during the period. Los Angeles Capital Management LLC raised its position in shares of Gilead Sciences by 53.5% in the 4th quarter. Los Angeles Capital Management LLC now owns 1,437,031 shares of the biopharmaceutical company’s stock worth $116,414,000 after acquiring an additional 501,105 shares in the last quarter. Natixis Advisors L.P. lifted its stake in shares of Gilead Sciences by 15.1% during the 4th quarter. Natixis Advisors L.P. now owns 279,620 shares of the biopharmaceutical company’s stock worth $22,652,000 after purchasing an additional 36,711 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in Gilead Sciences by 12.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 372,452 shares of the biopharmaceutical company’s stock valued at $30,172,000 after purchasing an additional 42,554 shares in the last quarter. Finally, Robertson Stephens Wealth Management LLC raised its holdings in Gilead Sciences by 32.4% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 5,349 shares of the biopharmaceutical company’s stock worth $433,000 after purchasing an additional 1,310 shares in the last quarter. 83.67% of the stock is currently owned by institutional investors.

Insider Transactions at Gilead Sciences

In related news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $72.96, for a total value of $145,920.00. Following the completion of the transaction, the insider now directly owns 96,304 shares in the company, valued at approximately $7,026,339.84. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

GILD has been the topic of a number of recent analyst reports. Oppenheimer restated an “outperform” rating and issued a $105.00 price target on shares of Gilead Sciences in a report on Friday, April 19th. HSBC raised Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 price target on the stock in a research report on Wednesday, April 24th. Cantor Fitzgerald dropped their target price on Gilead Sciences from $80.00 to $78.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 7th. Royal Bank of Canada decreased their price target on Gilead Sciences from $76.00 to $74.00 and set a “sector perform” rating for the company in a research note on Friday, April 26th. Finally, Wells Fargo & Company dropped their price target on Gilead Sciences from $84.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Monday, March 4th. Eleven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Gilead Sciences presently has a consensus rating of “Hold” and a consensus target price of $83.69.

Gilead Sciences Stock Performance

Shares of Gilead Sciences stock traded down $0.22 during trading on Thursday, hitting $65.29. 2,740,160 shares of the company’s stock were exchanged, compared to its average volume of 7,421,412. The stock has a market capitalization of $81.29 billion, a price-to-earnings ratio of 180.94, a PEG ratio of 1.31 and a beta of 0.22. The business has a 50-day simple moving average of $70.87 and a 200-day simple moving average of $76.01. Gilead Sciences, Inc. has a 52-week low of $64.63 and a 52-week high of $87.86. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.72 and a current ratio of 0.98.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.49) by $0.17. The business had revenue of $6.69 billion during the quarter, compared to analyst estimates of $6.36 billion. Gilead Sciences had a return on equity of 24.34% and a net margin of 1.76%. The company’s revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the business posted $1.37 EPS. On average, research analysts forecast that Gilead Sciences, Inc. will post 3.74 EPS for the current year.

Gilead Sciences Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Friday, June 14th will be issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 4.72%. The ex-dividend date of this dividend is Friday, June 14th. Gilead Sciences’s payout ratio is presently 855.56%.

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.