Concord Wealth Partners Acquires 4,684 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Concord Wealth Partners boosted its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 34.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 18,355 shares of the biopharmaceutical company’s stock after purchasing an additional 4,684 shares during the period. Concord Wealth Partners’ holdings in Gilead Sciences were worth $1,487,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Nilsine Partners LLC boosted its stake in Gilead Sciences by 1.1% in the third quarter. Nilsine Partners LLC now owns 11,894 shares of the biopharmaceutical company’s stock valued at $891,000 after acquiring an additional 127 shares during the last quarter. Etesian Wealth Advisors Inc. boosted its stake in Gilead Sciences by 0.7% in the fourth quarter. Etesian Wealth Advisors Inc. now owns 18,318 shares of the biopharmaceutical company’s stock valued at $1,486,000 after acquiring an additional 128 shares during the last quarter. Financial Counselors Inc. boosted its stake in Gilead Sciences by 1.5% in the fourth quarter. Financial Counselors Inc. now owns 8,862 shares of the biopharmaceutical company’s stock valued at $718,000 after acquiring an additional 128 shares during the last quarter. Revolve Wealth Partners LLC boosted its stake in Gilead Sciences by 3.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 3,607 shares of the biopharmaceutical company’s stock valued at $292,000 after acquiring an additional 130 shares during the last quarter. Finally, Institutional & Family Asset Management LLC boosted its stake in Gilead Sciences by 10.3% in the third quarter. Institutional & Family Asset Management LLC now owns 1,501 shares of the biopharmaceutical company’s stock valued at $112,000 after acquiring an additional 140 shares during the last quarter. 83.67% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on GILD shares. Morgan Stanley dropped their target price on shares of Gilead Sciences from $80.00 to $78.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. Maxim Group dropped their price target on shares of Gilead Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday. TD Cowen dropped their price target on shares of Gilead Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. StockNews.com upgraded shares of Gilead Sciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, Truist Financial cut shares of Gilead Sciences from a “buy” rating to a “hold” rating and dropped their price target for the company from $91.00 to $82.00 in a research note on Thursday, February 22nd. Eleven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $83.69.

Insider Transactions at Gilead Sciences

In related news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $73.18, for a total transaction of $146,360.00. Following the transaction, the insider now owns 100,936 shares of the company’s stock, valued at approximately $7,386,496.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.29% of the company’s stock.

Gilead Sciences Price Performance

NASDAQ GILD traded up $0.60 on Wednesday, hitting $65.80. The stock had a trading volume of 3,567,341 shares, compared to its average volume of 7,431,926. The firm has a 50-day moving average of $71.03 and a 200-day moving average of $76.08. The company has a market capitalization of $81.93 billion, a price-to-earnings ratio of 180.53, a price-to-earnings-growth ratio of 1.30 and a beta of 0.19. 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 issued its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) EPS for the quarter, topping analysts’ consensus estimates of ($1.49) by $0.17. The firm had revenue of $6.69 billion for the quarter, compared to analyst estimates of $6.36 billion. Gilead Sciences had a net margin of 1.76% and a return on equity of 24.34%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.37 EPS. Equities analysts expect that Gilead Sciences, Inc. will post 3.79 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. Stockholders 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 dividend yield of 4.68%. The ex-dividend date is Friday, June 14th. Gilead Sciences’s payout ratio is 855.56%.

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.