Fullcircle Wealth LLC Buys New Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Fullcircle Wealth LLC purchased a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,837 shares of the biopharmaceutical company’s stock, valued at approximately $209,000.

Several other large investors have also recently added to or reduced their stakes in GILD. Manning & Napier Advisors LLC acquired a new stake in shares of Gilead Sciences in the second quarter valued at about $25,328,000. Charles Schwab Investment Management Inc. grew its position in Gilead Sciences by 1.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,281,489 shares of the biopharmaceutical company’s stock valued at $589,873,000 after acquiring an additional 87,482 shares in the last quarter. Eagle Asset Management Inc. raised its stake in shares of 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 during the period. ARGA Investment Management LP lifted its position in shares of Gilead Sciences by 6.2% during the fourth quarter. ARGA Investment Management LP now owns 635,058 shares of the biopharmaceutical company’s stock worth $51,446,000 after purchasing an additional 37,069 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich boosted its stake in shares of Gilead Sciences by 3.0% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 429,936 shares of the biopharmaceutical company’s stock valued at $34,829,000 after purchasing an additional 12,617 shares during the period. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on GILD shares. BMO Capital Markets lifted their price target on shares of Gilead Sciences from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Truist Financial boosted their price target on Gilead Sciences from $82.00 to $83.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Barclays reduced their price target on Gilead Sciences from $80.00 to $76.00 and set an “equal weight” rating for the company in a report on Monday, April 29th. Maxim Group dropped their price objective on Gilead Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Finally, Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a research report on Thursday, August 15th. Twelve investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Gilead Sciences has an average rating of “Moderate Buy” and an average target price of $81.94.

Gilead Sciences Price Performance

Shares of Gilead Sciences stock traded up $0.82 during trading on Friday, hitting $76.72. The stock had a trading volume of 6,847,053 shares, compared to its average volume of 7,242,981. The business has a fifty day moving average of $71.87 and a two-hundred day moving average of $70.18. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $87.86. The firm has a market cap of $95.58 billion, a P/E ratio of 213.11, a PEG ratio of 3.37 and a beta of 0.18. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.08 and a quick ratio of 0.94.

Gilead Sciences Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date of this dividend is Friday, September 13th. Gilead Sciences’s payout ratio is 855.56%.

Insider Activity

In related news, insider Johanna Mercier sold 5,490 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total transaction of $406,150.20. Following the completion of the sale, the insider now directly owns 114,979 shares of the company’s stock, valued at $8,506,146.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Johanna Mercier sold 5,490 shares of Gilead Sciences stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total value of $406,150.20. Following the transaction, the insider now directly owns 114,979 shares in the company, valued at approximately $8,506,146.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 96,380 shares in the company, valued at $6,614,559.40. The disclosure for this sale can be found here. 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.