Rialto Wealth Management LLC Takes $92,000 Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Rialto Wealth Management LLC acquired a new stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,000 shares of the biopharmaceutical company’s stock, valued at approximately $92,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GILD. HHM Wealth Advisors LLC grew its holdings in shares of Gilead Sciences by 118.5% during the fourth quarter. HHM Wealth Advisors LLC now owns 284 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 154 shares in the last quarter. YANKCOM Partnership purchased a new position in shares of Gilead Sciences during the fourth quarter valued at approximately $28,000. Decker Retirement Planning Inc. acquired a new stake in Gilead Sciences during the fourth quarter worth approximately $29,000. Crews Bank & Trust purchased a new stake in Gilead Sciences in the 4th quarter worth approximately $31,000. Finally, Stephens Consulting LLC raised its holdings in Gilead Sciences by 325.0% in the 4th quarter. Stephens Consulting LLC now owns 340 shares of the biopharmaceutical company’s stock valued at $31,000 after acquiring an additional 260 shares during the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Gilead Sciences Stock Up 1.2 %

Shares of NASDAQ:GILD opened at $117.41 on Friday. The company has a market capitalization of $146.22 billion, a price-to-earnings ratio of 317.32, a price-to-earnings-growth ratio of 0.71 and a beta of 0.21. The company has a 50 day moving average of $99.61 and a two-hundred day moving average of $91.50. Gilead Sciences, Inc. has a 52-week low of $62.07 and a 52-week high of $118.42. The company has a quick ratio of 1.20, a current ratio of 1.50 and a debt-to-equity ratio of 1.24.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.67 by $0.23. Gilead Sciences had a net margin of 1.67% and a return on equity of 31.63%. As a group, analysts forecast that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.69%. This is a positive change from Gilead Sciences’s previous quarterly dividend of $0.77. The ex-dividend date is Friday, March 14th. Gilead Sciences’s payout ratio is presently 854.05%.

Wall Street Analysts Forecast Growth

GILD has been the topic of several analyst reports. Mizuho raised their price objective on Gilead Sciences from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. JPMorgan Chase & Co. raised their price target on Gilead Sciences from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. UBS Group upped their price objective on shares of Gilead Sciences from $70.00 to $96.00 and gave the company a “neutral” rating in a research note on Thursday, November 21st. Wells Fargo & Company increased their price objective on shares of Gilead Sciences from $120.00 to $140.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Wolfe Research assumed coverage on shares of Gilead Sciences in a report on Friday, November 15th. They issued an “outperform” rating and a $110.00 target price for the company. Eleven investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, Gilead Sciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $104.24.

Insider Buying and Selling

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $104.09, for a total value of $260,225.00. Following the transaction, the chief financial officer now directly owns 169,061 shares of the company’s stock, valued at $17,597,559.49. This represents a 1.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last 90 days, insiders have sold 293,356 shares of company stock worth $29,166,240. 0.16% of the stock is currently owned by corporate insiders.

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.