Atlantic Family Wealth LLC Makes New Investment in Gilead Sciences, Inc. (NASDAQ:GILD)

Atlantic Family Wealth LLC purchased a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,010 shares of the biopharmaceutical company’s stock, valued at approximately $370,000. Gilead Sciences accounts for approximately 0.4% of Atlantic Family Wealth LLC’s investment portfolio, making the stock its 20th largest holding.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp raised its stake in shares of Gilead Sciences by 1.4% in the third quarter. State Street Corp now owns 60,171,691 shares of the biopharmaceutical company’s stock valued at $5,044,795,000 after acquiring an additional 841,776 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Gilead Sciences by 50.9% in the third quarter. Wellington Management Group LLP now owns 34,600,676 shares of the biopharmaceutical company’s stock valued at $2,900,921,000 after acquiring an additional 11,665,593 shares during the last quarter. FMR LLC raised its stake in shares of Gilead Sciences by 79.4% in the third quarter. FMR LLC now owns 33,162,319 shares of the biopharmaceutical company’s stock valued at $2,780,329,000 after acquiring an additional 14,680,161 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Gilead Sciences by 2.1% in the third quarter. Geode Capital Management LLC now owns 27,540,870 shares of the biopharmaceutical company’s stock valued at $2,302,119,000 after acquiring an additional 574,421 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Gilead Sciences by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 7,752,975 shares of the biopharmaceutical company’s stock valued at $650,009,000 after acquiring an additional 224,960 shares during the last quarter. Institutional investors own 83.67% of the company’s stock.

Wall Street Analyst Weigh In

GILD has been the subject of a number of research reports. Truist Financial raised their price target on shares of Gilead Sciences from $83.00 to $97.00 and gave the company a “hold” rating in a report on Friday, November 8th. Bank of America reissued a “buy” rating and issued a $109.00 price target on shares of Gilead Sciences in a report on Tuesday, December 10th. Barclays raised their price target on shares of Gilead Sciences from $84.00 to $95.00 and gave the company an “equal weight” rating in a report on Thursday, November 7th. Wolfe Research initiated coverage on shares of Gilead Sciences in a report on Friday, November 15th. They issued an “outperform” rating and a $110.00 price target for the company. Finally, Royal Bank of Canada raised their price target on shares of Gilead Sciences from $84.00 to $90.00 and gave the company a “sector perform” rating in a report on Wednesday, February 12th. Eleven investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $102.08.

Gilead Sciences Stock Performance

GILD opened at $109.95 on Friday. The company has a market capitalization of $137.03 billion, a price-to-earnings ratio of 297.16, a P/E/G ratio of 0.71 and a beta of 0.18. The business’s 50-day moving average price is $95.41 and its two-hundred day moving average price is $88.73. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $111.03. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.50 and a quick ratio of 1.20.

Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share (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%. Equities analysts expect that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.

Gilead Sciences Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a $0.79 dividend. This is a positive change from Gilead Sciences’s previous quarterly dividend of $0.77. The ex-dividend date is Friday, March 14th. This represents a $3.16 annualized dividend and a yield of 2.87%. Gilead Sciences’s dividend payout ratio is currently 832.43%.

Insider Buying and Selling at Gilead Sciences

In other Gilead Sciences news, Director Jeffrey Bluestone sold 6,788 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $91.39, for a total value of $620,355.32. Following the sale, the director now owns 8,920 shares in the company, valued at $815,198.80. This represents a 43.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Andrew D. Dickinson sold 248,645 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $92.76, for a total value of $23,064,310.20. Following the transaction, the chief financial officer now owns 138,919 shares in the company, valued at approximately $12,886,126.44. This trade represents a 64.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 713,000 shares of company stock worth $67,945,181 over the last 90 days. Company insiders own 0.16% of the company’s stock.

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.