Ballentine Partners LLC Has $1.67 Million Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Ballentine Partners LLC increased its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 73.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,880 shares of the biopharmaceutical company’s stock after purchasing an additional 8,451 shares during the quarter. Ballentine Partners LLC’s holdings in Gilead Sciences were worth $1,667,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CarsonAllaria Wealth Management Ltd. raised its stake in shares of Gilead Sciences by 198.3% during the second quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 238 shares during the last quarter. nVerses Capital LLC acquired a new stake in Gilead Sciences during the 3rd quarter worth $25,000. Palisade Asset Management LLC bought a new stake in shares of Gilead Sciences during the 1st quarter valued at $29,000. Cedar Wealth Management LLC lifted its stake in shares of Gilead Sciences by 51.6% in the 2nd quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 160 shares during the period. Finally, Strategic Investment Solutions Inc. IL bought a new position in shares of Gilead Sciences in the 2nd quarter worth $33,000. 83.67% of the stock is owned by institutional investors.

Analyst Ratings Changes

GILD has been the topic of several analyst reports. Leerink Partnrs raised Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 21st. Leerink Partners raised shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $74.00 to $96.00 in a research note on Monday, October 21st. BMO Capital Markets raised their price target on shares of Gilead Sciences from $85.00 to $94.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Royal Bank of Canada lifted their target price on Gilead Sciences from $74.00 to $75.00 and gave the company a “sector perform” rating in a research report on Friday, October 4th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $70.00 target price on shares of Gilead Sciences in a report on Monday, September 16th. Ten investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Gilead Sciences currently has a consensus rating of “Moderate Buy” and an average price target of $86.85.

Insider Activity

In related news, insider Johanna Mercier sold 29,357 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 78,127 shares of the company’s stock, valued at $6,545,480.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total value of $167,660.00. Following the completion of the sale, the insider now directly owns 100,189 shares in the company, valued at approximately $8,398,843.87. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Johanna Mercier sold 29,357 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now owns 78,127 shares of the company’s stock, valued at approximately $6,545,480.06. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,847 shares of company stock valued at $3,033,340 over the last quarter. 0.16% of the stock is owned by company insiders.

Gilead Sciences Price Performance

Shares of NASDAQ GILD opened at $89.00 on Friday. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $89.74. The business has a fifty day moving average price of $82.16 and a two-hundred day moving average price of $73.28. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.14 and a quick ratio of 0.95. The stock has a market capitalization of $110.88 billion, a PE ratio of 247.22, a P/E/G ratio of 2.98 and a beta of 0.18.

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

Gilead Sciences Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a dividend of $0.77 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.08 dividend on an annualized basis and a yield of 3.46%. Gilead Sciences’s dividend payout ratio is currently 855.56%.

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.