Puzo Michael J Purchases New Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Puzo Michael J acquired a new stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,100 shares of the biopharmaceutical company’s stock, valued at approximately $235,000.

Several other hedge funds also recently added to or reduced their stakes in GILD. Annis Gardner Whiting Capital Advisors LLC boosted its holdings in Gilead Sciences by 158.8% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 352 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 216 shares during the period. Morton Brown Family Wealth LLC bought a new position in shares of Gilead Sciences in the 4th quarter worth about $35,000. Whipplewood Advisors LLC acquired a new position in shares of Gilead Sciences in the 4th quarter valued at about $35,000. Synergy Investment Management LLC bought a new stake in shares of Gilead Sciences during the 4th quarter valued at about $40,000. Finally, Lee Danner & Bass Inc. acquired a new stake in Gilead Sciences during the fourth quarter worth about $41,000. 83.67% of the stock is owned by institutional investors and hedge funds.

Gilead Sciences Stock Down 2.6%

GILD stock opened at $108.00 on Wednesday. The firm has a market cap of $134.34 billion, a PE ratio of 22.74, a P/E/G ratio of 0.72 and a beta of 0.29. Gilead Sciences, Inc. has a 12 month low of $62.69 and a 12 month high of $119.96. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.37 and a quick ratio of 1.23. The firm has a 50 day simple moving average of $105.88 and a 200 day simple moving average of $102.49.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.04. The company 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 51.93% and a net margin of 20.76%. The company’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.32) EPS. Equities research analysts forecast that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The business 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 dividend of $0.79 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $3.16 annualized dividend and a yield of 2.93%. Gilead Sciences’s payout ratio is presently 66.53%.

Insider Buying and Selling at Gilead Sciences

In other news, CEO Daniel Patrick O’day sold 10,000 shares of Gilead Sciences 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 transaction, the chief executive officer now owns 620,268 shares in the company, valued at approximately $68,489,992.56. The trade was a 1.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Johanna Mercier sold 28,000 shares of the company’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 directly owns 121,152 shares in the company, 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 ninety days, insiders sold 48,500 shares of company stock valued at $5,236,245. 0.27% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

GILD has been the subject of a number of research reports. Morgan Stanley lifted their target price on Gilead Sciences from $130.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. Deutsche Bank Aktiengesellschaft raised Gilead Sciences from a “hold” rating to a “buy” rating and raised their price target for the stock from $80.00 to $120.00 in a report on Tuesday, February 18th. Cantor Fitzgerald started coverage on Gilead Sciences in a research note on Tuesday, April 22nd. They set an “overweight” rating and a $125.00 price objective for the company. JPMorgan Chase & Co. increased their target price on Gilead Sciences from $120.00 to $130.00 and gave the stock an “overweight” rating in a research report on Thursday, March 27th. Finally, Bank of America boosted their price target on shares of Gilead Sciences from $116.00 to $126.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. 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.com, Gilead Sciences has a consensus rating of “Moderate Buy” and an average target price 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.