Tyche Wealth Partners LLC Takes $420,000 Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Tyche Wealth Partners LLC bought a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,181 shares of the biopharmaceutical company’s stock, valued at approximately $420,000.

Several other large investors have also recently bought and sold shares of the business. HealthInvest Partners AB purchased a new position in Gilead Sciences in the fourth quarter valued at approximately $8,018,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Gilead Sciences by 5.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,491,253 shares of the biopharmaceutical company’s stock valued at $120,806,000 after buying an additional 73,824 shares during the last quarter. Wealth Alliance raised its stake in Gilead Sciences by 3.5% during the 4th quarter. Wealth Alliance now owns 11,687 shares of the biopharmaceutical company’s stock worth $947,000 after acquiring an additional 396 shares in the last quarter. Main Street Research LLC acquired a new stake in shares of Gilead Sciences in the 4th quarter valued at about $211,000. Finally, Octavia Wealth Advisors LLC increased its position in Gilead Sciences by 6.6% during the fourth quarter. Octavia Wealth Advisors LLC now owns 3,182 shares of the biopharmaceutical company’s stock worth $258,000 after buying an additional 196 shares during the period. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Insider Activity

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $72.96, for a total value of $145,920.00. Following the transaction, the insider now owns 96,304 shares in the company, valued at approximately $7,026,339.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.16% of the company’s stock.

Gilead Sciences Stock Down 0.6 %

Shares of Gilead Sciences stock opened at $66.93 on Thursday. The company has a fifty day moving average price of $72.25 and a 200 day moving average price of $76.66. The company has a current ratio of 1.43, a quick ratio of 1.27 and a debt-to-equity ratio of 1.08. Gilead Sciences, Inc. has a twelve month low of $66.89 and a twelve month high of $87.86. The stock has a market cap of $83.33 billion, a price-to-earnings ratio of 14.87, a price-to-earnings-growth ratio of 0.92 and a beta of 0.19.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Tuesday, February 6th. The biopharmaceutical company reported $1.72 earnings per share for the quarter, missing the consensus estimate of $1.76 by ($0.04). The company had revenue of $7.12 billion during the quarter, compared to analysts’ expectations of $7.10 billion. Gilead Sciences had a return on equity of 38.85% and a net margin of 20.89%. Gilead Sciences’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.67 EPS. Equities research analysts forecast that Gilead Sciences, Inc. will post 6.55 earnings per share for the current fiscal year.

Gilead Sciences Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a dividend of $0.77 per share. This is a boost from Gilead Sciences’s previous quarterly dividend of $0.75. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.60%. The ex-dividend date was Thursday, March 14th. Gilead Sciences’s payout ratio is presently 68.44%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GILD. Royal Bank of Canada lowered their price objective on shares of Gilead Sciences from $76.00 to $75.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 14th. Wells Fargo & Company cut their price target on shares of Gilead Sciences from $84.00 to $77.00 and set an “equal weight” rating for the company in a report on Monday, March 4th. Truist Financial cut Gilead Sciences from a “buy” rating to a “hold” rating and dropped their target price for the stock from $91.00 to $82.00 in a research report on Thursday, February 22nd. Barclays reduced their price target on Gilead Sciences from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday, February 12th. Finally, Cantor Fitzgerald dropped their price objective on Gilead Sciences from $80.00 to $78.00 and set a “neutral” rating on the stock in a report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $85.36.

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.