Strategic Financial Concepts LLC Buys New Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Strategic Financial Concepts LLC acquired a new stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) in the 4th quarter, Holdings Channel reports. The firm acquired 71,883 shares of the biopharmaceutical company’s stock, valued at approximately $6,640,000.

Several other institutional investors have also bought and sold shares of the business. Allworth Financial LP lifted its holdings in shares of Gilead Sciences by 24.8% in the 4th quarter. Allworth Financial LP now owns 35,953 shares of the biopharmaceutical company’s stock valued at $3,345,000 after acquiring an additional 7,143 shares during the last quarter. Principal Securities Inc. raised its position in Gilead Sciences by 45.0% during the fourth quarter. Principal Securities Inc. now owns 14,404 shares of the biopharmaceutical company’s stock valued at $1,330,000 after purchasing an additional 4,468 shares during the period. Everhart Financial Group Inc. bought a new stake in shares of Gilead Sciences in the 4th quarter valued at approximately $239,000. Roxbury Financial LLC purchased a new position in shares of Gilead Sciences in the 4th quarter worth approximately $88,000. Finally, Roman Butler Fullerton & Co. bought a new position in shares of Gilead Sciences during the 4th quarter valued at approximately $298,000. Institutional investors own 83.67% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on GILD shares. Leerink Partnrs raised shares of Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 21st. BMO Capital Markets upped their price target on shares of Gilead Sciences from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday. Barclays increased their price objective on shares of Gilead Sciences from $84.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 7th. The Goldman Sachs Group boosted their target price on Gilead Sciences from $85.00 to $96.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Mizuho increased their price target on Gilead Sciences from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Eleven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Gilead Sciences has an average rating of “Moderate Buy” and a consensus price target of $101.33.

Insider Transactions at Gilead Sciences

In other Gilead Sciences news, insider Merdad Parsey sold 164,211 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $91.92, for a total value of $15,094,275.12. Following the completion of the sale, the insider now owns 80,801 shares of the company’s stock, valued at approximately $7,427,227.92. This trade represents a 67.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Andrew D. Dickinson sold 248,645 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $92.76, for a total transaction of $23,064,310.20. Following the transaction, the chief financial officer now owns 138,919 shares in the company, valued at approximately $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 710,500 shares of company stock valued at $67,684,956 in the last 90 days. Insiders own 0.16% of the company’s stock.

Gilead Sciences Price Performance

NASDAQ GILD opened at $104.08 on Friday. The company has a market cap of $129.71 billion, a PE ratio of 1,156.44, a P/E/G ratio of 1.25 and a beta of 0.18. Gilead Sciences, Inc. has a 52-week low of $62.07 and a 52-week high of $106.69. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.10 and a current ratio of 1.26. The firm’s 50 day moving average price is $93.87 and its 200-day moving average price is $87.55.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.67 by $0.23. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. Sell-side analysts forecast that Gilead Sciences, Inc. will post 4.35 EPS for the current fiscal year.

Gilead Sciences Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $0.79 dividend. This is a boost from Gilead Sciences’s previous quarterly dividend of $0.77. This represents a $3.16 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date is Friday, March 14th. Gilead Sciences’s dividend payout ratio (DPR) is currently 3,422.22%.

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.