B. Riley Wealth Advisors Inc. Boosts Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Posted by Defense World Staff on Mar 19th, 2023

Gilead Sciences logo B. Riley Wealth Advisors Inc. grew its stake in Gilead Sciences, Inc. (NASDAQ:GILD – Get Rating) by 32.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,154 shares of the biopharmaceutical company’s stock after purchasing an additional 5,967 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Gilead Sciences were worth $1,492,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in GILD. Arrowstreet Capital Limited Partnership lifted its holdings in Gilead Sciences by 324.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 18,002,214 shares of the biopharmaceutical company’s stock valued at $1,070,232,000 after acquiring an additional 13,764,169 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Gilead Sciences by 70.6% in the first quarter. Renaissance Technologies LLC now owns 15,492,116 shares of the biopharmaceutical company’s stock valued at $921,006,000 after acquiring an additional 6,410,047 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Gilead Sciences by 124.8% in the second quarter. AQR Capital Management LLC now owns 6,095,793 shares of the biopharmaceutical company’s stock valued at $375,562,000 after acquiring an additional 3,383,767 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Gilead Sciences by 14.8% in the third quarter. Bank of New York Mellon Corp now owns 15,421,436 shares of the biopharmaceutical company’s stock valued at $951,350,000 after acquiring an additional 1,987,058 shares during the last quarter. Finally, Ensign Peak Advisors Inc lifted its holdings in Gilead Sciences by 66.5% in the third quarter. Ensign Peak Advisors Inc now owns 4,484,769 shares of the biopharmaceutical company’s stock valued at $276,665,000 after acquiring an additional 1,790,559 shares during the last quarter. 78.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GILD has been the topic of a number of recent analyst reports. Oppenheimer upped their price objective on Gilead Sciences from $95.00 to $105.00 in a report on Thursday, December 1st. Cowen upped their price objective on Gilead Sciences from $90.00 to $95.00 in a report on Friday, February 10th. Wells Fargo & Company upped their price target on Gilead Sciences from $75.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 3rd. DZ Bank cut Gilead Sciences from a “buy” rating to a “hold” rating and set a $90.00 price target on the stock. in a research note on Friday, December 9th. Finally, SVB Leerink upped their price target on Gilead Sciences from $81.00 to $91.00 and gave the stock a “market perform” rating in a research note on Friday, February 3rd. Nine investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $89.40.

Insider Activity at Gilead Sciences

In related news, insider Merdad Parsey sold 12,984 shares of the stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $79.96, for a total value of $1,038,200.64. Following the transaction, the insider now owns 70,130 shares of the company’s stock, valued at $5,607,594.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.16% of the stock is currently owned by corporate insiders.

Gilead Sciences Stock Down 3.2 %

Gilead Sciences stock opened at $77.31 on Friday. The firm has a market capitalization of $96.41 billion, a P/E ratio of 21.18, a P/E/G ratio of 0.95 and a beta of 0.38. The stock’s fifty day simple moving average is $83.20 and its 200-day simple moving average is $78.51. The company has a current ratio of 1.29, a quick ratio of 1.15 and a debt-to-equity ratio of 1.14. Gilead Sciences, Inc. has a twelve month low of $57.17 and a twelve month high of $89.74.

Gilead Sciences (NASDAQ:GILD – Get Rating) last posted its earnings results on Thursday, February 2nd. The biopharmaceutical company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.50 by $0.17. The firm had revenue of $7.39 billion for the quarter, compared to analyst estimates of $6.63 billion. Gilead Sciences had a return on equity of 44.46% and a net margin of 16.83%. Gilead Sciences’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.69 earnings per share. As a group, equities analysts expect that Gilead Sciences, Inc. will post 6.84 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 Thursday, March 30th. Investors of record on Wednesday, March 15th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 3.88%. The ex-dividend date is Tuesday, March 14th. This is a positive change from Gilead Sciences’s previous quarterly dividend of $0.73. Gilead Sciences’s dividend payout ratio is 82.19%.

Gilead Sciences Profile

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Gilead Sciences, Inc is a biopharmaceutical company, which engages in the research, development, and commercialization of medicines in areas of unmet medical need. The firm’s primary areas of focus include human immunodeficiency virus, acquired immunodeficiency syndrome, liver diseases, hematology, oncology, and inflammation and respiratory diseases.