53,274 Shares in Gilead Sciences, Inc. (NASDAQ:GILD) Acquired by SteelPeak Wealth LLC

SteelPeak Wealth LLC purchased a new stake in Gilead Sciences, Inc. (NASDAQ:GILD) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 53,274 shares of the biopharmaceutical company’s stock, valued at approximately $4,921,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Mayflower Financial Advisors LLC bought a new position in Gilead Sciences during the fourth quarter worth $317,000. BSW Wealth Partners raised its holdings in shares of Gilead Sciences by 5.9% during the fourth quarter. BSW Wealth Partners now owns 6,048 shares of the biopharmaceutical company’s stock valued at $559,000 after purchasing an additional 335 shares during the period. IRON Financial LLC boosted its position in shares of Gilead Sciences by 2.7% during the 4th quarter. IRON Financial LLC now owns 10,169 shares of the biopharmaceutical company’s stock worth $939,000 after purchasing an additional 268 shares in the last quarter. Berkshire Bank grew its stake in shares of Gilead Sciences by 3.4% in the 4th quarter. Berkshire Bank now owns 3,398 shares of the biopharmaceutical company’s stock valued at $314,000 after buying an additional 111 shares during the period. Finally, Foundations Investment Advisors LLC increased its position in Gilead Sciences by 27.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 63,082 shares of the biopharmaceutical company’s stock valued at $5,827,000 after buying an additional 13,417 shares in the last quarter. 83.67% of the stock is currently owned by institutional investors.

Gilead Sciences Price Performance

Gilead Sciences stock opened at $93.85 on Wednesday. The business’s 50 day simple moving average is $91.88 and its 200 day simple moving average is $85.27. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $98.90. The company has a market cap of $116.96 billion, a price-to-earnings ratio of 1,042.78, a PEG ratio of 1.31 and a beta of 0.18. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.44. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The company had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.01 billion. During the same quarter in the prior year, the company earned $2.29 EPS. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. Sell-side analysts forecast that Gilead Sciences, Inc. will post 4.36 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on GILD shares. Oppenheimer raised their price objective on Gilead Sciences from $105.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Citigroup assumed coverage on shares of Gilead Sciences in a research report on Thursday, November 14th. They issued a “buy” rating and a $125.00 price target for the company. Royal Bank of Canada restated a “sector perform” rating and set a $84.00 price objective on shares of Gilead Sciences in a report on Wednesday, December 11th. Piper Sandler raised their price objective 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. Finally, UBS Group boosted their target price on shares of Gilead Sciences from $70.00 to $96.00 and gave the stock a “neutral” rating in a research report on Thursday, November 21st. Eleven research analysts have rated the stock with a hold rating, thirteen have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $97.96.

Insider Activity

In other news, insider Merdad Parsey sold 25,590 shares of Gilead Sciences stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total value of $2,341,485.00. Following the completion of the transaction, the insider now directly owns 99,599 shares in the company, valued at approximately $9,113,308.50. The trade was a 20.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Andrew D. Dickinson sold 248,645 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $92.76, for a total value of $23,064,310.20. Following the sale, the chief financial officer now directly owns 138,919 shares in the company, valued at $12,886,126.44. This trade represents a 64.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 456,234 shares of company stock valued at $42,130,461 over the last quarter. Company insiders own 0.16% of the company’s stock.

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.