Gen Wealth Partners Inc Has $28,000 Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Gen Wealth Partners Inc cut its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 28.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 249 shares of the biopharmaceutical company’s stock after selling 101 shares during the period. Gen Wealth Partners Inc’s holdings in Gilead Sciences were worth $28,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GILD. Smallwood Wealth Investment Management LLC acquired a new position in Gilead Sciences during the first quarter worth $25,000. Goodman Advisory Group LLC acquired a new position in Gilead Sciences during the first quarter worth $29,000. Core Alternative Capital increased its holdings in Gilead Sciences by 370.8% during the first quarter. Core Alternative Capital now owns 306 shares of the biopharmaceutical company’s stock worth $34,000 after buying an additional 241 shares during the last quarter. IMA Advisory Services Inc. acquired a new position in Gilead Sciences during the first quarter worth $39,000. Finally, Financial Network Wealth Advisors LLC increased its holdings in Gilead Sciences by 538.6% during the first quarter. Financial Network Wealth Advisors LLC now owns 364 shares of the biopharmaceutical company’s stock worth $41,000 after buying an additional 307 shares during the last quarter. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on GILD shares. Cantor Fitzgerald began coverage on shares of Gilead Sciences in a report on Tuesday, April 22nd. They set an “overweight” rating and a $125.00 target price on the stock. UBS Group upped their price objective on shares of Gilead Sciences from $108.00 to $112.00 and gave the company a “neutral” rating in a report on Friday, August 8th. Morgan Stanley upped their price objective 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. Truist Financial upgraded shares of Gilead Sciences from a “hold” rating to a “buy” rating and upped their price objective for the company from $108.00 to $127.00 in a report on Friday, August 8th. Finally, Oppenheimer decreased their price objective 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. Seven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $114.82.

Gilead Sciences Trading Down 0.5%

GILD opened at $118.37 on Friday. Gilead Sciences, Inc. has a twelve month low of $72.89 and a twelve month high of $121.83. The company has a 50-day simple moving average of $111.88 and a 200 day simple moving average of $108.33. The company has a quick ratio of 1.15, a current ratio of 1.32 and a debt-to-equity ratio of 1.13. The stock has a market capitalization of $146.87 billion, a price-to-earnings ratio of 23.58, a P/E/G ratio of 0.73 and a beta of 0.33.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.05. Gilead Sciences had a net margin of 21.86% and a return on equity of 50.99%. The business had revenue of $7.08 billion during the quarter, compared to analysts’ expectations of $6.95 billion. During the same quarter in the prior year, the business posted $2.01 earnings per share. Gilead Sciences’s revenue was up 1.4% compared to the same quarter last year. Analysts predict that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.16 annualized dividend and a yield of 2.7%. Gilead Sciences’s dividend payout ratio is currently 62.95%.

Insider Activity

In related news, CEO Daniel Patrick O’day sold 10,000 shares of the company’s stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $113.94, for a total transaction of $1,139,400.00. Following the completion of the sale, the chief executive officer owned 605,725 shares of the company’s stock, valued at $69,016,306.50. This represents a 1.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Johanna Mercier sold 3,000 shares of the company’s stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $111.03, for a total transaction of $333,090.00. Following the sale, the insider directly owned 117,168 shares of the company’s stock, valued at $13,009,163.04. This represents a 2.50% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 79,500 shares of company stock worth $8,734,625. 0.27% of the stock is owned by company insiders.

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.