Concord Wealth Partners Buys New Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Posted by on Apr 15th, 2023

Concord Wealth Partners acquired a new stake in Gilead Sciences, Inc. (NASDAQ:GILD – Get Rating) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 390 shares of the biopharmaceutical company’s stock, valued at approximately $33,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in GILD. Legacy Bridge LLC purchased a new stake in Gilead Sciences in the fourth quarter worth $30,000. JFS Wealth Advisors LLC raised its holdings in Gilead Sciences by 68.1% in the 3rd quarter. JFS Wealth Advisors LLC now owns 400 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 162 shares in the last quarter. Pacifica Partners Inc. lifted its position in shares of Gilead Sciences by 179.7% in the 3rd quarter. Pacifica Partners Inc. now owns 414 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 266 shares during the period. Hanseatic Management Services Inc. bought a new stake in shares of Gilead Sciences during the 4th quarter valued at about $37,000. Finally, Horan Securities Inc. increased its position in shares of Gilead Sciences by 217.9% during the third quarter. Horan Securities Inc. now owns 461 shares of the biopharmaceutical company’s stock valued at $28,000 after buying an additional 316 shares during the period. Institutional investors own 78.72% of the company’s stock.

Insiders Place Their Bets

In other news, insider Merdad Parsey sold 6,126 shares of the firm’s stock in a transaction on Monday, March 13th. The stock was sold at an average price of $78.99, for a total value of $483,892.74. Following the transaction, the insider now directly owns 70,130 shares in the company, valued at approximately $5,539,568.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.16% of the stock is currently owned by insiders.

Gilead Sciences Stock Down 0.3 %

GILD stock opened at $83.00 on Friday. The stock has a market capitalization of $103.65 billion, a P/E ratio of 22.74, a P/E/G ratio of 0.98 and a beta of 0.38. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.29 and a quick ratio of 1.15. Gilead Sciences, Inc. has a 1-year low of $57.17 and a 1-year high of $89.74. The business has a fifty day moving average price of $82.03 and a 200-day moving average price of $80.78.

Gilead Sciences (NASDAQ:GILD – Get Rating) last issued its earnings results on Thursday, February 2nd. The biopharmaceutical company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.17. The business had revenue of $7.39 billion during 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 was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.69 EPS. Equities analysts forecast that Gilead Sciences, Inc. will post 6.86 earnings per share for the current fiscal year.

Gilead Sciences Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 30th. Investors of record on Wednesday, March 15th were issued a $0.75 dividend. The ex-dividend date of this dividend was Tuesday, March 14th. This represents a $3.00 annualized dividend and a yield of 3.61%. This is a boost from Gilead Sciences’s previous quarterly dividend of $0.73. Gilead Sciences’s dividend payout ratio (DPR) is currently 82.19%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Barclays raised their price objective on shares of Gilead Sciences from $76.00 to $84.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 18th. Royal Bank of Canada dropped their price target on Gilead Sciences from $87.00 to $86.00 and set a “sector perform” rating on the stock in a research report on Monday, March 6th. Piper Sandler increased their price objective on Gilead Sciences from $111.00 to $112.00 and gave the stock an “overweight” rating in a report on Friday, February 3rd. Morgan Stanley boosted their target price on shares of Gilead Sciences from $81.00 to $85.00 and gave the company an “equal weight” rating in a report on Wednesday. Finally, Wells Fargo & Company upped their target price on shares of Gilead Sciences from $75.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 3rd. Nine equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $89.60.

About Gilead Sciences

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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.

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Institutional Ownership by Quarter for Gilead Sciences (NASDAQ:GILD)

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