Forsta AP Fonden Purchases 12,900 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Forsta AP Fonden grew its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 3.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 397,400 shares of the biopharmaceutical company’s stock after acquiring an additional 12,900 shares during the period. Forsta AP Fonden’s holdings in Gilead Sciences were worth $33,318,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. nVerses Capital LLC bought a new position in Gilead Sciences during the third quarter worth about $25,000. 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 during the period. Palisade Asset Management LLC bought a new position in shares of Gilead Sciences during the 1st quarter worth approximately $29,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Gilead Sciences during the 2nd quarter worth approximately $33,000. Finally, Cedar Wealth Management LLC raised 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 valued at $32,000 after acquiring an additional 160 shares during the period. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on GILD. Wells Fargo & Company raised shares of Gilead Sciences from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $78.00 to $100.00 in a research report on Monday, October 7th. Piper Sandler reiterated an “overweight” rating and issued a $95.00 price target on shares of Gilead Sciences in a research note on Wednesday, September 11th. Barclays raised their price objective on shares of Gilead Sciences from $76.00 to $84.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Evercore ISI upgraded Gilead Sciences to a “strong-buy” rating in a report on Friday, August 9th. Finally, Raymond James upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 target price on the stock in a research note on Monday, July 8th. Ten analysts have rated the stock with a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $86.85.

Insider Transactions at Gilead Sciences

In other Gilead Sciences news, insider Johanna Mercier sold 5,490 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total value of $406,150.20. Following the completion of the transaction, the insider now directly owns 114,979 shares in the company, valued at approximately $8,506,146.42. 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 can be accessed through this link. In other Gilead Sciences news, insider Johanna Mercier sold 5,490 shares of Gilead Sciences stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total transaction of $406,150.20. Following the transaction, the insider now directly owns 114,979 shares of the company’s stock, valued at approximately $8,506,146.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Merdad Parsey sold 2,000 shares of the firm’s 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 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,847 shares of company stock worth $3,033,340. Corporate insiders own 0.16% of the company’s stock.

Gilead Sciences Price Performance

Shares of Gilead Sciences stock traded up $0.22 during trading on Friday, reaching $89.00. 5,734,995 shares of the company’s stock were exchanged, compared to its average volume of 7,043,532. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.95 and a current ratio of 1.14. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $89.74. The company has a market cap of $110.88 billion, a P/E ratio of 247.22, a PEG ratio of 2.98 and a beta of 0.18. The firm’s 50-day moving average price is $82.46 and its 200 day moving average price is $73.42.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 EPS 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 the consensus estimate of $6.64 billion. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. As a group, research analysts anticipate that Gilead Sciences, Inc. will post 3.78 earnings per share for the current year.

Gilead Sciences Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid 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 dividend yield of 3.46%. Gilead Sciences’s payout ratio is presently 855.56%.

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.