Elevation Point Wealth Partners LLC Buys New Shares in Gilead Sciences, Inc. $GILD

Elevation Point Wealth Partners LLC purchased a new stake in Gilead Sciences, Inc. (NASDAQ:GILD) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 27,671 shares of the biopharmaceutical company’s stock, valued at approximately $3,496,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Paulson Wealth Management Inc. raised its position in shares of Gilead Sciences by 1.8% during the fourth quarter. Paulson Wealth Management Inc. now owns 3,887 shares of the biopharmaceutical company’s stock valued at $477,000 after buying an additional 67 shares during the last quarter. Essex Financial Services Inc. lifted its stake in shares of Gilead Sciences by 0.9% in the fourth quarter. Essex Financial Services Inc. now owns 7,724 shares of the biopharmaceutical company’s stock valued at $948,000 after buying an additional 71 shares during the period. Davidson Trust Co. grew its position in Gilead Sciences by 4.1% during the first quarter. Davidson Trust Co. now owns 1,879 shares of the biopharmaceutical company’s stock worth $262,000 after buying an additional 74 shares in the last quarter. Alpha Cubed Investments LLC increased its stake in Gilead Sciences by 1.1% during the fourth quarter. Alpha Cubed Investments LLC now owns 6,619 shares of the biopharmaceutical company’s stock valued at $812,000 after acquiring an additional 75 shares during the period. Finally, Financial Connections Group Inc. increased its stake in Gilead Sciences by 30.2% during the first quarter. Financial Connections Group Inc. now owns 328 shares of the biopharmaceutical company’s stock valued at $45,000 after acquiring an additional 76 shares during the period. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on GILD. Rothschild & Co Redburn cut their price target on Gilead Sciences from $170.00 to $167.00 in a report on Monday, May 11th. HSBC raised Gilead Sciences from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $133.00 to $155.00 in a report on Monday, July 6th. Truist Financial lowered their price objective on Gilead Sciences from $157.00 to $156.00 and set a “buy” rating on the stock in a research report on Tuesday, July 7th. Cantor Fitzgerald restated an “overweight” rating and issued a $155.00 target price on shares of Gilead Sciences in a research note on Wednesday, August 5th. Finally, Leerink Partners cut Gilead Sciences from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $146.00 to $127.00 in a research report on Tuesday, July 21st. Twenty-four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $158.04.

Gilead Sciences Stock Performance

NASDAQ:GILD opened at $146.12 on Friday. The firm has a market capitalization of $181.18 billion, a PE ratio of -54.73 and a beta of 0.32. The company has a quick ratio of 1.09, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. Gilead Sciences, Inc. has a 12-month low of $108.46 and a 12-month high of $157.29. The firm has a 50-day moving average price of $131.97 and a 200 day moving average price of $136.59.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Monday, August 3rd. The biopharmaceutical company reported ($6.75) earnings per share for the quarter, beating analysts’ consensus estimates of ($7.25) by $0.50. Gilead Sciences had a negative return on equity of 2.11% and a negative net margin of 10.64%.The company had revenue of $7.80 billion for the quarter, compared to the consensus estimate of $7.40 billion. During the same period in the previous year, the business earned $2.01 earnings per share. The company’s quarterly revenue was up 10.6% on a year-over-year basis. Research analysts anticipate that Gilead Sciences, Inc. will post -0.51 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Tuesday, September 15th. Gilead Sciences’s dividend payout ratio (DPR) is -122.85%.

Insider Buying and Selling

In related news, insider Johanna Mercier sold 28,000 shares of the business’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $137.64, for a total value of $3,853,920.00. Following the sale, the insider owned 118,234 shares of the company’s stock, valued at $16,273,727.76. The trade was a 19.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel Patrick O’day sold 15,000 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $130.31, for a total value of $1,954,650.00. Following the completion of the sale, the chief executive officer owned 592,133 shares in the company, valued at $77,160,851.23. This trade represents a 2.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 87,000 shares of company stock worth $11,562,960 in the last quarter. Corporate insiders own 0.30% of the company’s stock.

Gilead Sciences Company Profile

Gilead Sciences, Inc, founded in 1987 and headquartered in Foster City, California, is a biopharmaceutical company focused on the discovery, development and commercialization of medicines in areas of high unmet medical need. The company initially built its reputation in antiviral therapies and has since expanded into oncology, cell therapy and inflammatory diseases. Gilead operates a global research and commercial organization, conducting clinical development and selling medicines in markets around the world.

Gilead’s product portfolio is anchored by antiviral therapies for HIV and viral hepatitis.