Gilead Sciences, Inc. (NASDAQ:GILD) Shares Acquired by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC increased its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 10.2% during the 2nd quarter, Holdings Channel.com reports. The fund owned 19,746 shares of the biopharmaceutical company’s stock after buying an additional 1,830 shares during the period. Axxcess Wealth Management LLC’s holdings in Gilead Sciences were worth $1,355,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Gilead Sciences by 2.6% in the first quarter. Vanguard Group Inc. now owns 114,732,575 shares of the biopharmaceutical company’s stock worth $8,404,161,000 after acquiring an additional 2,910,147 shares during the last quarter. Capital World Investors lifted its position in Gilead Sciences by 1.4% during the first quarter. Capital World Investors now owns 84,497,404 shares of the biopharmaceutical company’s stock valued at $6,189,435,000 after buying an additional 1,133,281 shares in the last quarter. Capital Research Global Investors lifted its position in Gilead Sciences by 2.7% during the first quarter. Capital Research Global Investors now owns 61,246,366 shares of the biopharmaceutical company’s stock valued at $4,486,296,000 after buying an additional 1,589,240 shares in the last quarter. Wellington Management Group LLP lifted its position in Gilead Sciences by 14.4% during the fourth quarter. Wellington Management Group LLP now owns 18,630,134 shares of the biopharmaceutical company’s stock valued at $1,509,227,000 after buying an additional 2,350,550 shares in the last quarter. Finally, Parnassus Investments LLC lifted its position in Gilead Sciences by 0.3% during the fourth quarter. Parnassus Investments LLC now owns 11,952,057 shares of the biopharmaceutical company’s stock valued at $968,236,000 after buying an additional 36,686 shares in the last quarter. 83.67% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GILD. Robert W. Baird reaffirmed a “neutral” rating and set a $80.00 price target on shares of Gilead Sciences in a research report on Thursday, June 20th. Royal Bank of Canada lifted their price target on shares of Gilead Sciences from $72.00 to $74.00 and gave the company a “sector perform” rating in a research report on Wednesday, September 4th. Cantor Fitzgerald reiterated a “neutral” rating and set a $70.00 price objective on shares of Gilead Sciences in a research note on Monday. Truist Financial lifted their price objective on shares of Gilead Sciences from $82.00 to $83.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Finally, Raymond James upgraded shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price objective on the stock in a research note on Monday, July 8th. Twelve research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Gilead Sciences has an average rating of “Moderate Buy” and an average price target of $82.06.

Insider Buying and Selling

In related news, insider Johanna Mercier sold 29,357 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $83.78, for a total value of $2,459,529.46. Following the completion of the sale, the insider now owns 78,127 shares of the company’s stock, valued at $6,545,480.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $68.63, for a total transaction of $137,260.00. Following the sale, the insider now owns 96,380 shares in the company, valued at approximately $6,614,559.40. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Johanna Mercier sold 29,357 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $83.78, for a total value of $2,459,529.46. Following the completion of the transaction, the insider now owns 78,127 shares in the company, valued at approximately $6,545,480.06. The disclosure for this sale can be found here. Insiders sold 36,847 shares of company stock valued at $3,002,940 over the last 90 days. 0.16% of the stock is currently owned by company insiders.

Gilead Sciences Stock Performance

Shares of GILD opened at $83.89 on Thursday. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $87.86. The company has a market cap of $104.51 billion, a price-to-earnings ratio of 233.03, a price-to-earnings-growth ratio of 2.80 and a beta of 0.18. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.95 and a current ratio of 1.14. The firm has a fifty day moving average of $76.40 and a 200-day moving average of $71.09.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.40. The company had revenue of $6.95 billion during the quarter, compared to the consensus estimate of $6.64 billion. Gilead Sciences had a net margin of 3.79% and a return on equity of 29.34%. As a group, equities analysts anticipate that Gilead Sciences, Inc. will post 3.78 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 3.67%. The ex-dividend date is Friday, September 13th. Gilead Sciences’s payout ratio is currently 855.56%.

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.