Providence Wealth Advisors LLC Purchases 709 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Providence Wealth Advisors LLC lifted its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 5.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 14,097 shares of the biopharmaceutical company’s stock after buying an additional 709 shares during the period. Providence Wealth Advisors LLC’s holdings in Gilead Sciences were worth $981,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in GILD. Manning & Napier Advisors LLC purchased a new position in shares of Gilead Sciences during the 2nd quarter worth $25,328,000. Eagle Asset Management Inc. lifted its position in Gilead Sciences by 23.6% during the fourth quarter. Eagle Asset Management Inc. now owns 317,539 shares of the biopharmaceutical company’s stock valued at $25,724,000 after purchasing an additional 60,697 shares in the last quarter. GSA Capital Partners LLP bought a new stake in Gilead Sciences during the first quarter valued at about $462,000. Brookstone Capital Management increased its position in Gilead Sciences by 751.1% in the first quarter. Brookstone Capital Management now owns 127,258 shares of the biopharmaceutical company’s stock worth $9,322,000 after buying an additional 112,305 shares in the last quarter. Finally, Comerica Bank raised its stake in shares of Gilead Sciences by 10.7% in the fourth quarter. Comerica Bank now owns 329,990 shares of the biopharmaceutical company’s stock worth $26,733,000 after buying an additional 31,849 shares during the period. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Insiders Place Their Bets

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

Gilead Sciences Stock Up 0.5 %

NASDAQ GILD opened at $82.81 on Friday. The stock has a 50 day moving average price of $75.48 and a 200-day moving average price of $70.86. Gilead Sciences, Inc. has a one year low of $62.07 and a one year high of $87.86. 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 company has a market capitalization of $103.10 billion, a P/E ratio of 230.03, a P/E/G ratio of 2.80 and a beta of 0.18.

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

Gilead Sciences Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a $0.77 dividend. The ex-dividend date is Friday, September 13th. This represents a $3.08 annualized dividend and a yield of 3.72%. Gilead Sciences’s dividend payout ratio is currently 855.56%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GILD. Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a research note on Thursday, August 15th. Robert W. Baird reiterated a “neutral” rating and issued a $80.00 price target on shares of Gilead Sciences in a research report on Thursday, June 20th. Piper Sandler restated an “overweight” rating and set a $95.00 price objective on shares of Gilead Sciences in a research report on Wednesday. BMO Capital Markets upped their target price on shares of Gilead Sciences from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Finally, Royal Bank of Canada raised their price target on Gilead Sciences from $72.00 to $74.00 and gave the company a “sector perform” rating in a report on Wednesday, September 4th. Twelve investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $82.06.

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.