Resonant Capital Advisors LLC Takes Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Resonant Capital Advisors LLC purchased a new stake in Gilead Sciences, Inc. (NASDAQ:GILD) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 2,708 shares of the biopharmaceutical company’s stock, valued at approximately $219,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. PCA Investment Advisory Services Inc. acquired a new stake in shares of Gilead Sciences in the 2nd quarter worth $25,000. OFI Invest Asset Management acquired a new stake in shares of Gilead Sciences in the 3rd quarter worth $26,000. Tompkins Financial Corp boosted its position in shares of Gilead Sciences by 223.1% in the 3rd quarter. Tompkins Financial Corp now owns 349 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 241 shares in the last quarter. Fortitude Family Office LLC acquired a new stake in Gilead Sciences during the 4th quarter worth about $29,000. Finally, Rakuten Securities Inc. acquired a new stake in Gilead Sciences during the 4th quarter worth about $33,000. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $72.96, for a total transaction of $145,920.00. Following the completion of the sale, the insider now directly owns 96,304 shares in the company, valued at approximately $7,026,339.84. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.16% of the stock is owned by company insiders.

Gilead Sciences Price Performance

Shares of Gilead Sciences stock opened at $66.76 on Friday. The company has a quick ratio of 1.27, a current ratio of 1.43 and a debt-to-equity ratio of 1.08. Gilead Sciences, Inc. has a twelve month low of $65.90 and a twelve month high of $87.86. The business has a 50-day moving average price of $71.96 and a 200 day moving average price of $76.56. The firm has a market cap of $83.12 billion, a PE ratio of 14.84, a P/E/G ratio of 0.92 and a beta of 0.19.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Tuesday, February 6th. The biopharmaceutical company reported $1.72 earnings per share for the quarter, missing the consensus estimate of $1.76 by ($0.04). Gilead Sciences had a net margin of 20.89% and a return on equity of 38.85%. The business had revenue of $7.12 billion during the quarter, compared to analysts’ expectations of $7.10 billion. During the same quarter in the prior year, the firm earned $1.67 EPS. Gilead Sciences’s revenue for the quarter was down 3.7% on a year-over-year basis. Sell-side analysts predict that Gilead Sciences, Inc. will post 6.55 earnings per share for the current fiscal year.

Gilead Sciences Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a dividend of $0.77 per share. This is a positive change from Gilead Sciences’s previous quarterly dividend of $0.75. This represents a $3.08 annualized dividend and a yield of 4.61%. The ex-dividend date was Thursday, March 14th. Gilead Sciences’s payout ratio is 68.44%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on GILD shares. Truist Financial cut Gilead Sciences from a “buy” rating to a “hold” rating and lowered their price target for the stock from $91.00 to $82.00 in a research report on Thursday, February 22nd. UBS Group lowered their price target on Gilead Sciences from $81.00 to $75.00 and set a “neutral” rating for the company in a research report on Wednesday. Mizuho lowered their price target on Gilead Sciences from $101.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. Barclays lowered their price target on Gilead Sciences from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Monday, February 12th. Finally, Wells Fargo & Company lowered their price target on Gilead Sciences from $84.00 to $77.00 and set an “equal weight” rating for the company in a research report on Monday, March 4th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $84.71.

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.