Axxcess Wealth Management LLC Has $1.20 Million Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Axxcess Wealth Management LLC decreased its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 27.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,298 shares of the biopharmaceutical company’s stock after selling 5,448 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Gilead Sciences were worth $1,199,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Gilead Sciences by 2.6% in the first quarter. Vanguard Group Inc. now owns 114,732,575 shares of the biopharmaceutical company’s stock valued at $8,404,161,000 after acquiring an additional 2,910,147 shares during the last quarter. Capital World Investors lifted its stake in Gilead Sciences by 1.4% in the first quarter. Capital World Investors now owns 84,497,404 shares of the biopharmaceutical company’s stock valued at $6,189,435,000 after buying an additional 1,133,281 shares during the period. Capital Research Global Investors boosted its stake in Gilead Sciences by 2.7% during the first quarter. Capital Research Global Investors now owns 61,246,366 shares of the biopharmaceutical company’s stock worth $4,486,296,000 after acquiring an additional 1,589,240 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Gilead Sciences by 0.8% during the 2nd quarter. Legal & General Group Plc now owns 12,414,268 shares of the biopharmaceutical company’s stock worth $851,743,000 after purchasing an additional 93,068 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Gilead Sciences by 2.6% in the second quarter. Dimensional Fund Advisors LP now owns 10,412,413 shares of the biopharmaceutical company’s stock valued at $714,421,000 after acquiring an additional 268,208 shares during the period. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Gilead Sciences Stock Performance

NASDAQ GILD opened at $97.03 on Tuesday. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $98.90. The stock has a market capitalization of $120.80 billion, a price-to-earnings ratio of 1,078.11, a PEG ratio of 3.36 and a beta of 0.17. The company has a current ratio of 1.11, a quick ratio of 0.95 and a debt-to-equity ratio of 1.18. The stock has a 50-day moving average of $85.30 and a 200 day moving average of $75.15.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.44. The business had revenue of $7.55 billion for the quarter, compared to analysts’ expectations of $7.01 billion. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.29 EPS. Sell-side analysts anticipate that Gilead Sciences, Inc. will post 4.34 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend is Friday, December 13th. Gilead Sciences’s dividend payout ratio is presently 3,422.22%.

Wall Street Analysts Forecast Growth

Several research firms have commented on GILD. Sanford C. Bernstein began coverage on shares of Gilead Sciences in a research report on Thursday, October 17th. They set an “outperform” rating and a $105.00 target price on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a research report on Thursday, November 7th. Robert W. Baird lifted their price target on Gilead Sciences from $80.00 to $95.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Piper Sandler upped their target price on shares of Gilead Sciences from $95.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Finally, Wells Fargo & Company increased their price objective on Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Eleven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, Gilead Sciences currently has a consensus rating of “Moderate Buy” and an average price target of $91.50.

Insider Buying and Selling

In related news, insider Merdad Parsey sold 25,590 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the completion of the sale, the insider now owns 99,599 shares in the company, valued at $9,113,308.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Johanna Mercier sold 29,357 shares of Gilead Sciences stock in a transaction on 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 transaction, the insider now directly owns 78,127 shares in the company, valued at $6,545,480.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Merdad Parsey sold 25,590 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the completion of the sale, the insider now owns 99,599 shares of the company’s stock, valued at $9,113,308.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,947 shares of company stock worth $4,968,674. 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.