Gilead Sciences, Inc. (NASDAQ:GILD) Shares Sold by Stonegate Investment Group LLC

Stonegate Investment Group LLC lowered its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 3.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,788 shares of the biopharmaceutical company’s stock after selling 244 shares during the period. Stonegate Investment Group LLC’s holdings in Gilead Sciences were worth $569,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. CarsonAllaria Wealth Management Ltd. boosted its stake in shares of Gilead Sciences by 198.3% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 238 shares in the last quarter. nVerses Capital LLC purchased a new stake in shares of Gilead Sciences during the third quarter valued at $25,000. Palisade Asset Management LLC acquired a new position in shares of Gilead Sciences in the 1st quarter valued at $29,000. Cedar Wealth Management LLC increased its stake in Gilead Sciences by 51.6% in the 2nd quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 160 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in Gilead Sciences during the 2nd quarter worth about $33,000. 83.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Royal Bank of Canada lifted their target price on shares of Gilead Sciences from $74.00 to $75.00 and gave the stock a “sector perform” rating in a research report on Friday, October 4th. BMO Capital Markets boosted their target price on shares of Gilead Sciences from $85.00 to $94.00 and gave the company an “outperform” rating in a research note on Thursday. Wells Fargo & Company raised Gilead Sciences from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $78.00 to $100.00 in a research report on Monday, October 7th. Cantor Fitzgerald reissued a “neutral” rating and set a $70.00 price target on shares of Gilead Sciences in a research report on Monday, September 16th. Finally, Evercore ISI upgraded Gilead Sciences to a “strong-buy” rating in a research report on Friday, August 9th. Ten investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Gilead Sciences has an average rating of “Moderate Buy” and an average price target of $86.37.

Gilead Sciences Stock Performance

Shares of NASDAQ GILD opened at $86.72 on Friday. The business’s 50-day simple moving average is $81.06 and its 200-day simple moving average is $72.80. Gilead Sciences, Inc. has a 52 week low of $62.07 and a 52 week high of $87.86. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.95 and a current ratio of 1.14. The firm has a market cap of $108.04 billion, a price-to-earnings ratio of 240.89, a P/E/G ratio of 2.98 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.40. Gilead Sciences had a net margin of 3.79% and a return on equity of 29.34%. The company had revenue of $6.95 billion for the quarter, compared to analyst estimates of $6.64 billion. As a group, equities research analysts expect that Gilead Sciences, Inc. will post 3.78 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date of this dividend was Friday, September 13th. Gilead Sciences’s dividend payout ratio (DPR) is 855.56%.

Insider Activity

In related news, insider Johanna Mercier sold 29,357 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the completion of the sale, the insider now owns 78,127 shares in the company, valued at $6,545,480.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total transaction of $167,660.00. Following the transaction, the insider now owns 100,189 shares of the company’s stock, valued at approximately $8,398,843.87. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Johanna Mercier sold 29,357 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the completion of the sale, the insider now directly owns 78,127 shares of the company’s stock, valued at approximately $6,545,480.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,847 shares of company stock valued at $3,033,340. 0.16% of the stock is owned by insiders.

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.