Cerity Partners LLC Purchases 82,179 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Cerity Partners LLC grew its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 47.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 254,020 shares of the biopharmaceutical company’s stock after purchasing an additional 82,179 shares during the period. Cerity Partners LLC’s holdings in Gilead Sciences were worth $28,463,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Code Waechter LLC bought a new stake in Gilead Sciences during the 1st quarter worth about $556,000. Financial Gravity Asset Management Inc. acquired a new stake in shares of Gilead Sciences in the first quarter valued at about $166,000. Alps Advisors Inc. increased its position in shares of Gilead Sciences by 1.1% in the first quarter. Alps Advisors Inc. now owns 17,596 shares of the biopharmaceutical company’s stock valued at $1,972,000 after acquiring an additional 190 shares during the last quarter. Allworth Financial LP raised its holdings in Gilead Sciences by 16.8% during the first quarter. Allworth Financial LP now owns 41,993 shares of the biopharmaceutical company’s stock worth $4,458,000 after acquiring an additional 6,040 shares in the last quarter. Finally, Parr Mcknight Wealth Management Group LLC bought a new position in Gilead Sciences in the first quarter valued at approximately $238,000. 83.67% of the stock is owned by institutional investors and hedge funds.

Gilead Sciences Stock Performance

Shares of NASDAQ:GILD opened at $109.64 on Friday. Gilead Sciences, Inc. has a 12-month low of $70.21 and a 12-month high of $119.96. The company’s 50 day moving average price is $107.74 and its two-hundred day moving average price is $104.68. The firm has a market cap of $136.38 billion, a PE ratio of 23.08, a PEG ratio of 0.71 and a beta of 0.29. The company has a quick ratio of 1.23, a current ratio of 1.37 and a debt-to-equity ratio of 1.16.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results 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. Gilead Sciences had a return on equity of 51.93% and a net margin of 20.76%. The business had revenue of $6.67 billion for the quarter, compared to the consensus estimate of $6.77 billion. During the same quarter in the prior year, the business posted ($1.32) earnings per share. The firm’s quarterly revenue was down .3% compared to the same quarter last year. Equities research analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date was Friday, June 13th. Gilead Sciences’s payout ratio is currently 66.53%.

Insider Buying and Selling

In related news, CFO Andrew D. Dickinson sold 2,500 shares of Gilead Sciences 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 $275,425.00. Following the transaction, the chief financial officer directly owned 165,110 shares of the company’s stock, valued at $18,190,168.70. This trade represents a 1.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Daniel Patrick O’day sold 10,000 shares of the company’s stock in a transaction on Monday, June 30th. The stock was sold at an average price of $110.45, for a total value of $1,104,500.00. Following the sale, the chief executive officer owned 615,725 shares of the company’s stock, valued at $68,006,826.25. The trade was a 1.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 58,500 shares of company stock valued at $6,340,745 over the last quarter. 0.27% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

GILD has been the subject of several analyst reports. Oppenheimer decreased their target price on shares of Gilead Sciences from $132.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a research note on Wednesday, May 21st. JPMorgan Chase & Co. boosted their price objective on shares of Gilead Sciences from $120.00 to $130.00 and gave the stock an “overweight” rating in a research note on Thursday, March 27th. Morgan Stanley upped their target price on shares of Gilead Sciences from $130.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, April 25th. Finally, Cantor Fitzgerald initiated coverage on Gilead Sciences in a report on Tuesday, April 22nd. They set an “overweight” rating and a $125.00 price target for the company. Nine equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $111.38.

Gilead Sciences Profile

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.