Centric Wealth Management Purchases New Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Centric Wealth Management acquired a new position in Gilead Sciences, Inc. (NASDAQ:GILD) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 15,891 shares of the biopharmaceutical company’s stock, valued at approximately $1,468,000.

Other large investors have also modified their holdings of the company. Quantinno Capital Management LP lifted its holdings in Gilead Sciences by 149.5% during the 3rd quarter. Quantinno Capital Management LP now owns 81,620 shares of the biopharmaceutical company’s stock valued at $6,843,000 after buying an additional 48,910 shares in the last quarter. McAdam LLC increased its position in shares of Gilead Sciences by 16.7% during the fourth quarter. McAdam LLC now owns 25,372 shares of the biopharmaceutical company’s stock worth $2,344,000 after acquiring an additional 3,627 shares during the period. Capital Investment Advisors LLC raised its stake in shares of Gilead Sciences by 2.6% during the fourth quarter. Capital Investment Advisors LLC now owns 387,492 shares of the biopharmaceutical company’s stock valued at $35,793,000 after acquiring an additional 9,791 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in shares of Gilead Sciences by 3.9% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 142,167 shares of the biopharmaceutical company’s stock valued at $13,132,000 after purchasing an additional 5,382 shares during the period. Finally, Benjamin Edwards Inc. grew its stake in Gilead Sciences by 1,940.8% in the third quarter. Benjamin Edwards Inc. now owns 365,820 shares of the biopharmaceutical company’s stock worth $30,672,000 after purchasing an additional 347,895 shares in the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Insider Transactions at Gilead Sciences

In related news, CFO Andrew D. Dickinson sold 2,500 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $91.35, for a total transaction of $228,375.00. Following the completion of the transaction, the chief financial officer now owns 129,873 shares in the company, valued at $11,863,898.55. This represents a 1.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 302,785 shares of company stock valued at $30,503,250 in the last three months. 0.16% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on GILD. Wells Fargo & Company lifted their target price on Gilead Sciences from $120.00 to $140.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. JPMorgan Chase & Co. upped 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. Oppenheimer increased their target price on shares of Gilead Sciences from $115.00 to $132.00 and gave the stock an “outperform” rating in a report on Tuesday, March 4th. The Goldman Sachs Group boosted their price target on shares of Gilead Sciences from $85.00 to $96.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a research report on Wednesday, February 12th. Eleven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.12.

Gilead Sciences Stock Performance

Shares of NASDAQ GILD opened at $112.05 on Tuesday. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $119.96. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.20 and a current ratio of 1.50. The company’s fifty day moving average price is $105.88 and its 200 day moving average price is $95.20. The company has a market capitalization of $139.54 billion, a PE ratio of 302.84, a price-to-earnings-growth ratio of 0.71 and a beta of 0.21.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.67 by $0.23. Gilead Sciences had a return on equity of 31.63% and a net margin of 1.67%. On average, research analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a $0.79 dividend. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from Gilead Sciences’s previous quarterly dividend of $0.77. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.82%. Gilead Sciences’s payout ratio is 854.05%.

Gilead Sciences Company 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.