Spartan Planning & Wealth Management Purchases New Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Spartan Planning & Wealth Management acquired a new position in Gilead Sciences, Inc. (NASDAQ:GILD) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,493 shares of the biopharmaceutical company’s stock, valued at approximately $230,000.

A number of other hedge funds have also made changes to their positions in GILD. Avior Wealth Management LLC increased its position in Gilead Sciences by 1.2% during the third quarter. Avior Wealth Management LLC now owns 9,422 shares of the biopharmaceutical company’s stock worth $782,000 after acquiring an additional 108 shares during the period. Concord Asset Management LLC VA grew its holdings in Gilead Sciences by 3.8% during the third quarter. Concord Asset Management LLC VA now owns 3,056 shares of the biopharmaceutical company’s stock worth $256,000 after buying an additional 111 shares in the last quarter. TFB Advisors LLC boosted its position in Gilead Sciences by 1.2% in the third quarter. TFB Advisors LLC now owns 9,397 shares of the biopharmaceutical company’s stock worth $788,000 after purchasing an additional 116 shares during the last quarter. Sumitomo Life Insurance Co. increased its position in Gilead Sciences by 0.7% in the third quarter. Sumitomo Life Insurance Co. now owns 17,822 shares of the biopharmaceutical company’s stock worth $1,494,000 after buying an additional 117 shares during the last quarter. Finally, FDx Advisors Inc. lifted its position in shares of Gilead Sciences by 2.2% during the third quarter. FDx Advisors Inc. now owns 5,365 shares of the biopharmaceutical company’s stock worth $450,000 after acquiring an additional 117 shares in the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Gilead Sciences Trading Down 0.3 %

GILD stock traded down $0.24 during midday trading on Tuesday, hitting $90.99. The stock had a trading volume of 2,546,406 shares, compared to its average volume of 4,236,046. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $98.90. The firm has a market cap of $113.40 billion, a P/E ratio of 1,011.00, a price-to-earnings-growth ratio of 2.24 and a beta of 0.18. The business has a fifty day moving average price of $91.86 and a two-hundred day moving average price of $82.84. 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 released its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.44. The business had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.01 billion. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The company’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.29 EPS. On average, sell-side analysts predict that Gilead Sciences, Inc. will post 4.36 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were given a dividend of $0.77 per share. The ex-dividend date was Friday, December 13th. This represents a $3.08 annualized dividend and a yield of 3.38%. Gilead Sciences’s payout ratio is currently 3,422.22%.

Insider Activity at Gilead Sciences

In other news, Director Jeffrey Bluestone sold 6,788 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $91.39, for a total transaction of $620,355.32. Following the transaction, the director now owns 8,920 shares of the company’s stock, valued at approximately $815,198.80. This represents a 43.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Merdad Parsey sold 25,590 shares of Gilead Sciences stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the sale, the insider now directly owns 99,599 shares of the company’s stock, valued at $9,113,308.50. This represents a 20.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 453,734 shares of company stock worth $41,902,086 over the last ninety days. 0.16% of the stock is owned by corporate insiders.

Analyst Ratings Changes

GILD has been the subject of a number of research reports. Piper Sandler upped 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. Royal Bank of Canada reissued a “sector perform” rating and set a $84.00 price target on shares of Gilead Sciences in a research note on Wednesday, December 11th. Robert W. Baird increased their price objective on Gilead Sciences from $80.00 to $95.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Mizuho raised their price target on shares of Gilead Sciences from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, Daiwa America upgraded shares of Gilead Sciences to a “hold” rating in a research note on Monday, November 18th. Twelve investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Gilead Sciences presently has a consensus rating of “Moderate Buy” and an average target price of $96.43.

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.