Beta Wealth Group Inc. Purchases 802 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Beta Wealth Group Inc. increased its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 11.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,521 shares of the biopharmaceutical company’s stock after purchasing an additional 802 shares during the period. Beta Wealth Group Inc.’s holdings in Gilead Sciences were worth $631,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of GILD. CarsonAllaria Wealth Management Ltd. lifted its stake in shares of Gilead Sciences by 198.3% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 238 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of Gilead Sciences in the 3rd quarter worth about $25,000. Valued Wealth Advisors LLC boosted its stake in Gilead Sciences by 101.9% during the 3rd quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 161 shares during the last quarter. Cedar Wealth Management LLC increased its holdings in Gilead Sciences by 51.6% during 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 purchased a new stake in shares of Gilead Sciences in the second quarter worth approximately $33,000. Institutional investors and hedge funds own 83.67% of the company’s stock.

Insider Buying and Selling at Gilead Sciences

In other news, insider Johanna Mercier sold 5,490 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total value of $406,150.20. Following the transaction, the insider now owns 114,979 shares of the company’s stock, valued at approximately $8,506,146.42. This 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 the SEC website. In other news, insider Merdad Parsey sold 2,000 shares of the 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 transaction, the insider now owns 100,189 shares of the company’s stock, valued at $8,398,843.87. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Johanna Mercier sold 5,490 shares of Gilead Sciences stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total transaction of $406,150.20. Following the sale, the insider now directly owns 114,979 shares of the company’s stock, valued at $8,506,146.42. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 62,437 shares of company stock valued at $5,374,825 in the last three months. Company insiders own 0.16% of the company’s stock.

Gilead Sciences Stock Down 1.4 %

Gilead Sciences stock opened at $96.57 on Friday. The firm has a market capitalization of $120.22 billion, a price-to-earnings ratio of 1,072.94, a P/E/G ratio of 3.19 and a beta of 0.17. The firm has a 50 day simple moving average of $85.30 and a 200 day simple moving average of $75.03. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $98.32. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 1.18.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.44. Gilead Sciences had a return on equity of 28.60% 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 business posted $2.29 earnings per share. The company’s revenue was up 7.0% on a year-over-year basis. On average, analysts predict that Gilead Sciences, Inc. will post 3.76 earnings per share for the current year.

Gilead Sciences Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be paid a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 3.19%. The ex-dividend date is Friday, December 13th. Gilead Sciences’s dividend payout ratio is presently 3,422.22%.

Analysts Set New Price Targets

Several brokerages recently issued reports on GILD. BMO Capital Markets upped their price target on Gilead Sciences from $94.00 to $102.00 and gave the stock an “outperform” rating in a report on Thursday. Leerink Partnrs upgraded shares of Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 21st. Piper Sandler raised their price target on shares of Gilead Sciences from $95.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday. Evercore ISI raised shares of Gilead Sciences to a “strong-buy” rating in a research report on Friday, August 9th. Finally, Robert W. Baird lifted their target price on shares of Gilead Sciences from $80.00 to $95.00 and gave the stock a “neutral” rating in a research report on Thursday. Twelve equities research analysts have rated the stock with a hold rating, ten have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, Gilead Sciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.71.

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.