Modern Wealth Management LLC Purchases 2,645 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Modern Wealth Management LLC grew its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 84.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,764 shares of the biopharmaceutical company’s stock after buying an additional 2,645 shares during the quarter. Modern Wealth Management LLC’s holdings in Gilead Sciences were worth $550,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Southland Equity Partners LLC raised its position in Gilead Sciences by 3.6% during the 4th quarter. Southland Equity Partners LLC now owns 3,128 shares of the biopharmaceutical company’s stock worth $289,000 after purchasing an additional 110 shares during the last quarter. Berkshire Bank raised its position in shares of Gilead Sciences by 3.4% during the fourth quarter. Berkshire Bank now owns 3,398 shares of the biopharmaceutical company’s stock worth $314,000 after acquiring an additional 111 shares during the last quarter. CFO4Life Group LLC lifted its stake in shares of Gilead Sciences by 2.7% in the fourth quarter. CFO4Life Group LLC now owns 4,265 shares of the biopharmaceutical company’s stock worth $394,000 after acquiring an additional 112 shares during the period. GHP Investment Advisors Inc. boosted its holdings in Gilead Sciences by 1.1% in the fourth quarter. GHP Investment Advisors Inc. now owns 11,354 shares of the biopharmaceutical company’s stock valued at $1,049,000 after acquiring an additional 122 shares during the last quarter. Finally, J.W. Cole Advisors Inc. increased its position in Gilead Sciences by 1.0% during the 4th quarter. J.W. Cole Advisors Inc. now owns 13,597 shares of the biopharmaceutical company’s stock valued at $1,256,000 after purchasing an additional 135 shares during the period. Institutional investors and hedge funds own 83.67% of the company’s stock.

Gilead Sciences Trading Up 1.7 %

Shares of GILD opened at $111.16 on Friday. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $119.96. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.20 and a current ratio of 1.50. The company’s fifty day moving average is $105.08 and its 200 day moving average is $94.58. The stock has a market capitalization of $138.43 billion, a PE ratio of 300.43, a P/E/G ratio of 0.71 and a beta of 0.21.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 EPS for the quarter, topping 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%. Sell-side analysts expect that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.79 per share. The ex-dividend date is Friday, March 14th. This is an increase from Gilead Sciences’s previous quarterly dividend of $0.77. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.84%. Gilead Sciences’s dividend payout ratio (DPR) is currently 854.05%.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 142,180 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $97.22, for a total value of $13,822,739.60. Following the completion of the sale, the chief financial officer now directly owns 129,873 shares in the company, valued at $12,626,253.06. This trade represents a 52.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 302,785 shares of company stock valued at $30,503,250 over the last ninety days. 0.16% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GILD. Bank of America lifted their target price on shares of Gilead Sciences from $116.00 to $126.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a research note on Wednesday, February 12th. Morgan Stanley raised their target price on Gilead Sciences from $123.00 to $130.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 11th. Royal Bank of Canada boosted their price target on Gilead Sciences from $84.00 to $90.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 12th. Finally, Wells Fargo & Company raised their price objective on shares of Gilead Sciences from $120.00 to $140.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Eleven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Gilead Sciences presently has an average rating of “Moderate Buy” and a consensus price target of $105.12.

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.