Cim Investment Management Inc. Has $321,000 Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Cim Investment Management Inc. lessened its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 5.3% during the third quarter, HoldingsChannel reports. The firm owned 3,831 shares of the biopharmaceutical company’s stock after selling 215 shares during the quarter. Cim Investment Management Inc.’s holdings in Gilead Sciences were worth $321,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of GILD. Avior Wealth Management LLC raised its position in Gilead Sciences by 1.2% in the third quarter. Avior Wealth Management LLC now owns 9,422 shares of the biopharmaceutical company’s stock worth $782,000 after acquiring an additional 108 shares during the period. Concord Asset Management LLC VA increased its stake in shares of Gilead Sciences by 3.8% during the 3rd quarter. Concord Asset Management LLC VA now owns 3,056 shares of the biopharmaceutical company’s stock worth $256,000 after purchasing an additional 111 shares during the last quarter. TFB Advisors LLC lifted its stake in Gilead Sciences by 1.2% in the third quarter. TFB Advisors LLC now owns 9,397 shares of the biopharmaceutical company’s stock valued at $788,000 after purchasing an additional 116 shares during the last quarter. Sumitomo Life Insurance Co. grew its holdings in Gilead Sciences by 0.7% during the third quarter. Sumitomo Life Insurance Co. now owns 17,822 shares of the biopharmaceutical company’s stock valued at $1,494,000 after purchasing an additional 117 shares during the period. Finally, FDx Advisors Inc. increased its position in Gilead Sciences by 2.2% in the third quarter. FDx Advisors Inc. now owns 5,365 shares of the biopharmaceutical company’s stock worth $450,000 after buying an additional 117 shares during the last quarter. Institutional investors own 83.67% of the company’s stock.

Gilead Sciences Price Performance

Shares of GILD opened at $92.38 on Friday. The firm’s 50-day simple moving average is $89.82 and its two-hundred day simple moving average is $79.26. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $98.90. The stock has a market cap of $115.13 billion, a PE ratio of 1,026.44, a price-to-earnings-growth ratio of 2.38 and a beta of 0.18. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.10 and a current ratio of 1.26.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.44. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The firm had revenue of $7.55 billion for the quarter, compared to analysts’ expectations of $7.01 billion. During the same period in the prior year, the firm posted $2.29 earnings per share. The company’s quarterly revenue was up 7.0% on a year-over-year basis. Analysts anticipate that Gilead Sciences, Inc. will post 4.35 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date is Friday, December 13th. Gilead Sciences’s payout ratio is 3,422.22%.

Insider Activity at Gilead Sciences

In other news, CFO Andrew D. Dickinson sold 248,645 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $92.76, for a total transaction of $23,064,310.20. Following the sale, the chief financial officer now owns 138,919 shares of the company’s stock, valued at $12,886,126.44. This trade represents a 64.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total transaction of $167,660.00. Following the completion of the sale, the insider now directly owns 100,189 shares of the company’s stock, valued at approximately $8,398,843.87. This trade represents a 1.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 447,234 shares of company stock valued at $41,288,086 over the last 90 days. Corporate insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. The Goldman Sachs Group upped their price target on Gilead Sciences from $74.00 to $84.00 and gave the company a “neutral” rating 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. JPMorgan Chase & Co. lifted their target price on Gilead Sciences from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $80.00 price objective on shares of Gilead Sciences in a research note on Wednesday. Finally, UBS Group upped their target price on Gilead Sciences from $70.00 to $96.00 and gave the stock a “neutral” rating in a research note on Thursday, November 21st. Twelve research analysts have rated the stock with a hold rating, twelve have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, Gilead Sciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.43.

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.