Elevation Point Wealth Partners LLC Makes New Investment in Gilead Sciences, Inc. $GILD

Elevation Point Wealth Partners LLC acquired a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 27,671 shares of the biopharmaceutical company’s stock, valued at approximately $3,496,000.

A number of other institutional investors also recently modified their holdings of GILD. Alta Advisers Ltd bought a new position in Gilead Sciences in the 2nd quarter valued at $631,000. Daiichi Life Insurance Co. Ltd. acquired a new position in Gilead Sciences in the second quarter worth $23,207,000. Commerce Bank bought a new stake in shares of Gilead Sciences during the second quarter worth $35,539,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Gilead Sciences during the second quarter worth $11,651,000. Finally, CFO4Life Group LLC acquired a new stake in shares of Gilead Sciences in the second quarter valued at $399,000. Institutional investors own 83.67% of the company’s stock.

Gilead Sciences Trading Up 1.9%

Shares of GILD opened at $146.12 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. Gilead Sciences, Inc. has a 12-month low of $108.46 and a 12-month high of $157.29. The firm has a market capitalization of $181.18 billion, a PE ratio of -54.73 and a beta of 0.32. The stock’s fifty day simple moving average is $131.97 and its 200-day simple moving average is $136.59.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Monday, August 3rd. The biopharmaceutical company reported ($6.75) earnings per share (EPS) for the quarter, beating the consensus estimate of ($7.25) by $0.50. The business had revenue of $7.80 billion for the quarter, compared to analysts’ expectations of $7.40 billion. Gilead Sciences had a negative return on equity of 2.11% and a negative net margin of 10.64%.The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the business earned $2.01 earnings per share. As a group, research analysts predict that Gilead Sciences, Inc. will post -0.51 earnings per share for the current year.

Gilead Sciences Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be paid a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, September 15th. Gilead Sciences’s dividend payout ratio (DPR) is -122.85%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Daiwa Securities Group cut their price target on Gilead Sciences from $161.00 to $150.00 and set an “outperform” rating for the company in a report on Tuesday, May 19th. HSBC raised shares of Gilead Sciences from a “hold” rating to a “buy” rating and increased their price objective for the stock from $133.00 to $155.00 in a report on Monday, July 6th. Weiss Ratings downgraded shares of Gilead Sciences from a “buy (b-)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. Rothschild & Co Redburn reduced their target price on shares of Gilead Sciences from $170.00 to $167.00 in a research report on Monday, May 11th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $155.00 target price on shares of Gilead Sciences in a research report on Wednesday, August 5th. Twenty-four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $158.04.

Insider Buying and Selling at Gilead Sciences

In related news, CEO Daniel Patrick O’day sold 15,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $130.31, for a total value of $1,954,650.00. Following the transaction, the chief executive officer directly owned 592,133 shares in the company, valued at $77,160,851.23. This represents a 2.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Andrew D. Dickinson sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $138.36, for a total transaction of $415,080.00. Following the completion of the transaction, the chief financial officer directly owned 165,646 shares in the company, valued at approximately $22,918,780.56. The trade was a 1.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 87,000 shares of company stock worth $11,562,960 over the last quarter. Company insiders own 0.30% of the company’s stock.

Gilead Sciences Company Profile

Gilead Sciences, Inc, founded in 1987 and headquartered in Foster City, California, is a biopharmaceutical company focused on the discovery, development and commercialization of medicines in areas of high unmet medical need. The company initially built its reputation in antiviral therapies and has since expanded into oncology, cell therapy and inflammatory diseases. Gilead operates a global research and commercial organization, conducting clinical development and selling medicines in markets around the world.

Gilead’s product portfolio is anchored by antiviral therapies for HIV and viral hepatitis.