Greenwich Wealth Management LLC Boosts Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Greenwich Wealth Management LLC lifted its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 4.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 7,683 shares of the biopharmaceutical company’s stock after purchasing an additional 299 shares during the period. Greenwich Wealth Management LLC’s holdings in Gilead Sciences were worth $527,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in GILD. CarsonAllaria Wealth Management Ltd. lifted its stake in shares of Gilead Sciences by 198.3% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 238 shares during the last quarter. Sachetta LLC purchased a new stake in shares of Gilead Sciences during the fourth quarter valued at approximately $30,000. Palisade Asset Management LLC bought a new position in shares of Gilead Sciences in the first quarter worth approximately $29,000. Frank Rimerman Advisors LLC bought a new stake in Gilead Sciences during the 4th quarter valued at $36,000. Finally, Fortis Group Advisors LLC boosted its position in Gilead Sciences by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 492 shares of the biopharmaceutical company’s stock valued at $40,000 after buying an additional 246 shares during the period. 83.67% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $68.63, for a total transaction of $137,260.00. Following the completion of the transaction, the insider now owns 96,380 shares of the company’s stock, valued at approximately $6,614,559.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Johanna Mercier sold 29,357 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total value of $2,459,529.46. Following the sale, the insider now owns 78,127 shares of the company’s stock, valued at $6,545,480.06. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $68.63, for a total transaction of $137,260.00. Following the transaction, the insider now directly owns 96,380 shares of the company’s stock, valued at $6,614,559.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,847 shares of company stock valued at $3,002,940. Company insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on GILD shares. BMO Capital Markets increased their target price on shares of Gilead Sciences from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Raymond James upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 target price for the company in a research note on Monday, July 8th. Robert W. Baird reaffirmed a “neutral” rating and issued a $80.00 price target on shares of Gilead Sciences in a research note on Thursday, June 20th. Piper Sandler reaffirmed an “overweight” rating and issued a $95.00 target price on shares of Gilead Sciences in a research report on Wednesday, September 11th. Finally, Evercore ISI raised Gilead Sciences to a “strong-buy” rating in a research report on Friday, August 9th. Twelve equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned 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 an average price target of $82.06.

Gilead Sciences Stock Down 0.4 %

Shares of GILD stock opened at $82.81 on Monday. The company has a 50 day simple moving average of $75.48 and a two-hundred day simple moving average of $70.84. The stock has a market cap of $103.10 billion, a P/E ratio of 230.03, a P/E/G ratio of 2.80 and a beta of 0.18. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $87.86. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 1.18.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.40. The company had revenue of $6.95 billion for the quarter, compared to the consensus estimate of $6.64 billion. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. On average, research analysts expect that Gilead Sciences, Inc. will post 3.78 earnings per share for the current year.

Gilead Sciences Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 3.72%. The ex-dividend date is Friday, September 13th. Gilead Sciences’s dividend payout ratio is currently 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.