Octavia Wealth Advisors LLC Takes Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Octavia Wealth Advisors LLC purchased a new stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,881 shares of the biopharmaceutical company’s stock, valued at approximately $211,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of GILD. Brighton Jones LLC grew its holdings in shares of Gilead Sciences by 20.6% during the fourth quarter. Brighton Jones LLC now owns 14,359 shares of the biopharmaceutical company’s stock worth $1,326,000 after purchasing an additional 2,450 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in shares of Gilead Sciences during the fourth quarter worth about $70,000. Vest Financial LLC grew its holdings in shares of Gilead Sciences by 14.6% during the fourth quarter. Vest Financial LLC now owns 5,989 shares of the biopharmaceutical company’s stock worth $553,000 after purchasing an additional 762 shares in the last quarter. Kingsview Wealth Management LLC grew its holdings in shares of Gilead Sciences by 110.9% during the fourth quarter. Kingsview Wealth Management LLC now owns 42,014 shares of the biopharmaceutical company’s stock worth $3,881,000 after purchasing an additional 22,091 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB grew its holdings in shares of Gilead Sciences by 6.8% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 19,933 shares of the biopharmaceutical company’s stock worth $1,841,000 after purchasing an additional 1,273 shares in the last quarter. 83.67% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Gilead Sciences Stock Performance

Shares of GILD stock opened at $113.00 on Tuesday. The stock has a fifty day moving average of $105.41 and a 200 day moving average of $101.80. 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 firm has a market capitalization of $140.56 billion, a price-to-earnings ratio of 305.41, a PEG ratio of 0.71 and a beta of 0.29. Gilead Sciences, Inc. has a 52 week low of $62.69 and a 52 week high of $119.96.

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

Gilead Sciences Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders 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 yield of 2.80%. Gilead Sciences’s dividend payout ratio (DPR) is 66.53%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GILD. The Goldman Sachs Group boosted their price objective on Gilead Sciences from $85.00 to $96.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Morgan Stanley upped their target price on Gilead Sciences from $130.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, April 25th. JPMorgan Chase & Co. upped their target price on Gilead Sciences from $120.00 to $130.00 and gave the stock an “overweight” rating in a research note on Thursday, March 27th. Oppenheimer cut their target price on Gilead Sciences from $132.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research note on Wednesday, May 21st. Nine equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $110.55.

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, 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.