McKinley Carter Wealth Services Inc. boosted its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD – Free Report) by 16.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,653 shares of the biopharmaceutical company’s stock after buying an additional 526 shares during the period. McKinley Carter Wealth Services Inc.’s holdings in Gilead Sciences were worth $303,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Legacy Bridge LLC bought a new stake in shares of Gilead Sciences in the 4th quarter worth $30,000. Heritage Wealth Management LLC grew its holdings in shares of Gilead Sciences by 54.6% in the fourth quarter. Heritage Wealth Management LLC now owns 368 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 130 shares during the period. Concord Wealth Partners bought a new stake in shares of Gilead Sciences in the fourth quarter worth $33,000. Sanctuary Wealth Management L.L.C. bought a new stake in shares of Gilead Sciences in the fourth quarter worth $33,000. Finally, SJS Investment Consulting Inc. grew its holdings in shares of Gilead Sciences by 187.9% in the first quarter. SJS Investment Consulting Inc. now owns 403 shares of the biopharmaceutical company’s stock worth $33,000 after acquiring an additional 263 shares during the period. Institutional investors own 81.59% of the company’s stock.
Gilead Sciences Trading Down 2.4 %
Shares of NASDAQ GILD opened at $74.42 on Monday. The business’s 50 day moving average is $77.83 and its two-hundred day moving average is $81.36. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.28 and a quick ratio of 1.13. Gilead Sciences, Inc. has a 1-year low of $59.27 and a 1-year high of $89.74. The stock has a market capitalization of $92.83 billion, a P/E ratio of 16.80, a PEG ratio of 0.86 and a beta of 0.38.
Gilead Sciences Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 29th. Stockholders of record on Thursday, June 15th were paid a dividend of $0.75 per share. The ex-dividend date was Wednesday, June 14th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.03%. Gilead Sciences’s dividend payout ratio is 67.72%.
Wall Street Analysts Forecast Growth
Several analysts recently commented on the company. Morgan Stanley lifted their price objective on Gilead Sciences from $81.00 to $85.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 12th. BMO Capital Markets raised Gilead Sciences from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $90.00 to $100.00 in a report on Tuesday, May 16th. Finally, StockNews.com started coverage on Gilead Sciences in a report on Thursday, May 18th. They issued a “strong-buy” rating for the company. Eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.00.
Insider Activity
In other news, insider Merdad Parsey sold 1,485 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $76.90, for a total transaction of $114,196.50. Following the transaction, the insider now owns 29,402 shares of the company’s stock, valued at $2,261,013.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.21% of the company’s stock.
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, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of coronavirus disease 2019; and Epclusa, Harvoni, Vosevi, Vemlidy, and Viread for the treatment of viral hepatitis.
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