Wedge Capital Management L L P NC Takes $33.51 Million Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Wedge Capital Management L L P NC purchased a new stake in Gilead Sciences, Inc. (NASDAQ:GILD) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 399,634 shares of the biopharmaceutical company’s stock, valued at approximately $33,505,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Sierra Summit Advisors LLC acquired a new stake in shares of Gilead Sciences in the fourth quarter valued at approximately $235,000. Chicago Partners Investment Group LLC raised its holdings in Gilead Sciences by 7.5% during the fourth quarter. Chicago Partners Investment Group LLC now owns 6,446 shares of the biopharmaceutical company’s stock worth $513,000 after purchasing an additional 452 shares in the last quarter. EP Wealth Advisors LLC lifted its position in Gilead Sciences by 0.8% in the fourth quarter. EP Wealth Advisors LLC now owns 47,466 shares of the biopharmaceutical company’s stock valued at $3,845,000 after purchasing an additional 356 shares during the period. Fortis Group Advisors LLC boosted its holdings in Gilead Sciences by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 492 shares of the biopharmaceutical company’s stock valued at $40,000 after purchasing an additional 246 shares in the last quarter. Finally, Richardson Financial Services Inc. acquired a new position in Gilead Sciences during the 4th quarter worth approximately $321,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Gilead Sciences Stock Performance

Shares of GILD traded down $0.15 during mid-day trading on Monday, hitting $84.80. The stock had a trading volume of 840,592 shares, compared to its average volume of 7,124,264. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 1.18. The company has a market cap of $105.65 billion, a PE ratio of 235.97, a PEG ratio of 2.98 and a beta of 0.18. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $87.86. The company’s fifty day simple moving average is $79.87 and its two-hundred day simple moving average is $72.33.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $6.64 billion. On average, equities analysts expect that Gilead Sciences, Inc. will post 3.78 earnings per share for the current year.

Gilead Sciences Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a dividend of $0.77 per share. The ex-dividend date was Friday, September 13th. This represents a $3.08 dividend on an annualized basis and a yield of 3.63%. Gilead Sciences’s payout ratio is currently 855.56%.

Insider Buying and Selling at Gilead Sciences

In other news, 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 sale, 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Johanna Mercier sold 29,357 shares of Gilead Sciences 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 sale, the insider now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total value of $167,660.00. Following the sale, the insider now owns 100,189 shares of the company’s stock, valued at approximately $8,398,843.87. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,847 shares of company stock worth $3,033,340. 0.16% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

GILD has been the subject of a number of research analyst reports. Barclays increased their price target on shares of Gilead Sciences from $76.00 to $84.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Cantor Fitzgerald reissued a “neutral” rating and issued a $70.00 price target on shares of Gilead Sciences in a report on Monday, September 16th. Robert W. Baird restated a “neutral” rating and set a $80.00 target price on shares of Gilead Sciences in a research report on Thursday, June 20th. Wells Fargo & Company raised Gilead Sciences from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $78.00 to $100.00 in a research note on Monday, October 7th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a research note on Thursday, August 15th. Ten analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $84.83.

Gilead Sciences Company 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.