Beacon Harbor Wealth Advisors Inc. Acquires Shares of 37,292 Gilead Sciences, Inc. (NASDAQ:GILD)

Beacon Harbor Wealth Advisors Inc. acquired a new stake in Gilead Sciences, Inc. (NASDAQ:GILD) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 37,292 shares of the biopharmaceutical company’s stock, valued at approximately $3,445,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. State Street Corp raised its position in 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 purchasing an additional 841,776 shares during the period. Wellington Management Group LLP raised its position in 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 purchasing an additional 11,665,593 shares during the period. FMR LLC increased its position in shares of Gilead Sciences by 79.4% during the third quarter. FMR LLC now owns 33,162,319 shares of the biopharmaceutical company’s stock worth $2,780,329,000 after acquiring an additional 14,680,161 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Gilead Sciences by 2.1% during the third quarter. Geode Capital Management LLC now owns 27,540,870 shares of the biopharmaceutical company’s stock worth $2,302,119,000 after acquiring an additional 574,421 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Gilead Sciences by 3.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,002,779 shares of the biopharmaceutical company’s stock worth $739,217,000 after acquiring an additional 249,804 shares during the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Gilead Sciences

In other news, CFO Andrew D. Dickinson sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was 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 directly owns 129,873 shares in the company, valued at approximately $11,863,898.55. The trade was a 1.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last three months, insiders sold 293,356 shares of company stock worth $29,166,240. Company insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

GILD has been the topic of a number of analyst reports. Piper Sandler lifted their target price on Gilead Sciences from $105.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Maxim Group lowered Gilead Sciences from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Wells Fargo & Company lifted their target price on Gilead Sciences from $120.00 to $140.00 and gave the stock an “overweight” rating in a research report on Wednesday. Robert W. Baird lifted their target price on Gilead Sciences from $80.00 to $95.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, Bank of America lifted their target price on Gilead Sciences from $116.00 to $126.00 and gave the stock a “buy” rating in a research report on Wednesday. Eleven investment 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 company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $104.24.

Gilead Sciences Stock Performance

Shares of GILD stock opened at $115.44 on Thursday. The company has a quick ratio of 1.20, a current ratio of 1.50 and a debt-to-equity ratio of 1.24. The business has a 50 day moving average of $98.71 and a two-hundred day moving average of $90.91. Gilead Sciences, Inc. has a 52 week low of $62.07 and a 52 week high of $117.39. The company has a market cap of $143.87 billion, a P/E ratio of 312.00, a PEG ratio of 0.71 and a beta of 0.21.

Gilead Sciences (NASDAQ:GILD) last issued 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%. As a group, analysts anticipate that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $0.79 per share. The ex-dividend date is Friday, March 14th. This is an increase from Gilead Sciences’s previous quarterly dividend of $0.77. This represents a $3.16 annualized dividend and a dividend yield of 2.74%. Gilead Sciences’s payout ratio is currently 854.05%.

Gilead Sciences 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.