Newbridge Financial Services Group Inc. Acquires Shares of 358 Gilead Sciences, Inc. (NASDAQ:GILD)

Newbridge Financial Services Group Inc. acquired a new stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 358 shares of the biopharmaceutical company’s stock, valued at approximately $33,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. nVerses Capital LLC purchased a new stake in shares of Gilead Sciences in the 3rd quarter worth about $25,000. HHM Wealth Advisors LLC grew its position in shares of Gilead Sciences by 118.5% in the 4th quarter. HHM Wealth Advisors LLC now owns 284 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 154 shares during the period. Valued Wealth Advisors LLC grew its position in shares of Gilead Sciences by 101.9% in the 3rd quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 161 shares during the period. YANKCOM Partnership purchased a new stake in shares of Gilead Sciences in the 4th quarter worth about $28,000. Finally, Decker Retirement Planning Inc. purchased a new stake in shares of Gilead Sciences in the 4th quarter worth about $29,000. 83.67% of the stock is owned by hedge funds and other institutional investors.

Gilead Sciences Price Performance

Shares of NASDAQ:GILD opened at $96.14 on Wednesday. The firm’s 50 day moving average price is $93.07 and its 200-day moving average price is $86.99. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $100.51. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $119.82 billion, a PE ratio of 1,068.22, a price-to-earnings-growth ratio of 1.25 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.23. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. Equities research analysts expect that Gilead Sciences, Inc. will post 4.35 EPS for the current year.

Insider Buying and Selling

In related news, Director Jeffrey Bluestone sold 6,788 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $91.39, for a total value of $620,355.32. Following the completion of the sale, the director now directly owns 8,920 shares of the company’s stock, valued at approximately $815,198.80. This represents a 43.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Andrew D. Dickinson sold 142,180 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $97.22, for a total transaction of $13,822,739.60. Following the sale, the chief financial officer now directly owns 129,873 shares of the company’s stock, valued at approximately $12,626,253.06. This trade represents a 52.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 572,824 shares of company stock valued at $53,611,715. 0.16% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

GILD has been the topic of a number of recent research reports. Sanford C. Bernstein initiated coverage on shares of Gilead Sciences in a research report on Thursday, October 17th. They issued an “outperform” rating and a $105.00 target price on the stock. Mizuho upped their target price on shares of Gilead Sciences from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Bank of America reaffirmed a “buy” rating and issued a $109.00 target price on shares of Gilead Sciences in a research report on Tuesday, December 10th. Royal Bank of Canada reissued a “sector perform” rating and set a $84.00 price objective on shares of Gilead Sciences in a research report on Monday, February 3rd. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $80.00 price objective on shares of Gilead Sciences in a research report on Wednesday, December 11th. Eleven analysts have rated the stock with a hold rating, thirteen have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $98.39.

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.