Mission Wealth Management LP Increases Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Mission Wealth Management LP boosted its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 21.5% during the first quarter, Holdings Channel.com reports. The firm owned 12,910 shares of the biopharmaceutical company’s stock after buying an additional 2,285 shares during the quarter. Mission Wealth Management LP’s holdings in Gilead Sciences were worth $1,447,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of GILD. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in Gilead Sciences by 158.8% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 352 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 216 shares during the last quarter. Morton Brown Family Wealth LLC purchased a new stake in Gilead Sciences in the fourth quarter valued at $35,000. Whipplewood Advisors LLC acquired a new position in shares of Gilead Sciences in the 4th quarter valued at $35,000. Synergy Investment Management LLC purchased a new position in shares of Gilead Sciences during the 4th quarter worth $40,000. Finally, Lee Danner & Bass Inc. acquired a new stake in shares of Gilead Sciences during the 4th quarter worth about $41,000. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Gilead Sciences Stock Up 0.8%

Shares of Gilead Sciences stock opened at $110.83 on Tuesday. Gilead Sciences, Inc. has a 52-week low of $62.69 and a 52-week high of $119.96. The company has a 50 day moving average of $105.82 and a 200 day moving average of $102.45. The company has a quick ratio of 1.20, a current ratio of 1.50 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $137.86 billion, a P/E ratio of 299.54, a P/E/G ratio of 0.71 and a beta of 0.29.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.04. The business had revenue of $6.67 billion during the quarter, compared to analysts’ expectations of $6.77 billion. Gilead Sciences had a net margin of 1.67% and a return on equity of 31.63%. The company’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the previous year, the company earned ($1.32) EPS. As a group, research analysts forecast that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be issued a $0.79 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.85%. Gilead Sciences’s payout ratio is currently 66.53%.

Insider Activity

In other news, CEO Daniel Patrick O’day sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $110.42, for a total transaction of $1,104,200.00. Following the completion of the sale, the chief executive officer now owns 620,268 shares in the company, valued at approximately $68,489,992.56. The trade was a 1.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Johanna Mercier sold 28,000 shares of the company’s stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $107.52, for a total transaction of $3,010,560.00. Following the completion of the transaction, the insider now owns 121,152 shares of the company’s stock, valued at approximately $13,026,263.04. The trade was a 18.77% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,000 shares of company stock worth $4,630,310. 0.27% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have commented on GILD. JPMorgan Chase & Co. upped their target price on shares of Gilead Sciences from $120.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, March 27th. Deutsche Bank Aktiengesellschaft raised shares of Gilead Sciences from a “hold” rating to a “buy” rating and increased their price objective for the stock from $80.00 to $120.00 in a research report on Tuesday, February 18th. Wells Fargo & Company boosted their target price on Gilead Sciences from $120.00 to $140.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Oppenheimer lowered their price target on Gilead Sciences from $132.00 to $125.00 and set an “outperform” rating for the company in a research report on Friday, April 25th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a report on Wednesday, May 21st. Nine investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, Gilead Sciences presently has a consensus rating of “Moderate Buy” and an average target price of $110.55.

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.