Westend Capital Management LLC Raises Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Westend Capital Management LLC increased its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 2.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 142,066 shares of the biopharmaceutical company’s stock after purchasing an additional 3,424 shares during the period. Gilead Sciences accounts for 6.1% of Westend Capital Management LLC’s portfolio, making the stock its 4th largest holding. Westend Capital Management LLC’s holdings in Gilead Sciences were worth $15,918,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of GILD. Brighton Jones LLC boosted its position in Gilead Sciences by 20.6% in the 4th quarter. Brighton Jones LLC now owns 14,359 shares of the biopharmaceutical company’s stock valued at $1,326,000 after buying an additional 2,450 shares during the period. Wealthspire Advisors LLC acquired a new stake in shares of Gilead Sciences in the fourth quarter worth $248,000. Whipplewood Advisors LLC acquired a new stake in shares of Gilead Sciences in the fourth quarter worth $35,000. Proficio Capital Partners LLC purchased a new stake in Gilead Sciences during the fourth quarter worth $339,000. Finally, Wakefield Asset Management LLLP purchased a new position in Gilead Sciences during the fourth quarter valued at $514,000. 83.67% of the stock is owned by hedge funds and other institutional investors.

Gilead Sciences Stock Performance

NASDAQ GILD opened at $110.67 on Friday. The company has a current ratio of 1.37, a quick ratio of 1.23 and a debt-to-equity ratio of 1.16. The company has a market cap of $137.67 billion, a P/E ratio of 23.30, a PEG ratio of 0.70 and a beta of 0.29. The company has a fifty day simple moving average of $106.39 and a 200 day simple moving average of $103.27. Gilead Sciences, Inc. has a 12-month low of $66.01 and a 12-month high of $119.96.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.04. The company had revenue of $6.67 billion for the quarter, compared to the consensus estimate of $6.77 billion. Gilead Sciences had a net margin of 20.76% and a return on equity of 51.93%. The firm’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.32) EPS. Sell-side analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 2.86%. The ex-dividend date was Friday, June 13th. Gilead Sciences’s dividend payout ratio is presently 66.53%.

Analyst Upgrades and Downgrades

GILD has been the topic of several research reports. Wells Fargo & Company raised their price target on shares of Gilead Sciences from $120.00 to $140.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Oppenheimer cut their target price on shares of Gilead Sciences from $132.00 to $125.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. JPMorgan Chase & Co. boosted their price objective on shares of Gilead Sciences from $120.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, March 27th. Cantor Fitzgerald initiated coverage on shares of Gilead Sciences in a research report on Tuesday, April 22nd. They issued an “overweight” rating and a $125.00 price objective on the stock. Finally, Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a report on Wednesday, May 21st. Nine research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $110.55.

Insider Activity

In related news, insider Johanna Mercier sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $110.17, for a total value of $330,510.00. Following the transaction, the insider now directly owns 120,168 shares in the company, valued at approximately $13,238,908.56. This represents a 2.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Andrew D. Dickinson sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $99.82, for a total transaction of $249,550.00. Following the completion of the transaction, the chief financial officer now owns 165,674 shares in the company, valued at approximately $16,537,578.68. This trade represents a 1.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 48,500 shares of company stock worth $5,236,245 over the last ninety days. Company insiders own 0.27% 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, 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.