Eagle Asset Management Inc. Has $17.41 Million Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Eagle Asset Management Inc. lessened its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 23.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 207,698 shares of the biopharmaceutical company’s stock after selling 62,272 shares during the quarter. Eagle Asset Management Inc.’s holdings in Gilead Sciences were worth $17,413,000 as of its most recent SEC filing.

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

Insider Buying and Selling at Gilead Sciences

In other news, insider Merdad Parsey sold 25,590 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total value of $2,341,485.00. Following the transaction, the insider now owns 99,599 shares in the company, valued at $9,113,308.50. The trade was a 20.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Johanna Mercier sold 29,357 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $83.78, for a total value of $2,459,529.46. Following the completion of the transaction, the insider now owns 78,127 shares in the company, valued at $6,545,480.06. The trade was a 27.31 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,947 shares of company stock worth $4,968,674. Insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on GILD shares. Mizuho lifted their target price on Gilead Sciences from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a report on Thursday, November 7th. JPMorgan Chase & Co. lifted their target price on Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Robert W. Baird lifted their target price on Gilead Sciences from $80.00 to $95.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Citigroup assumed coverage on Gilead Sciences in a research report on Thursday, November 14th. They issued a “buy” rating and a $125.00 price objective for the company. Twelve investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.41.

Gilead Sciences Price Performance

GILD stock opened at $90.19 on Friday. The company has a market capitalization of $112.40 billion, a P/E ratio of 1,002.11, a price-to-earnings-growth ratio of 2.72 and a beta of 0.17. 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, Inc. has a 52-week low of $62.07 and a 52-week high of $98.90. The business has a 50-day simple moving average of $87.43 and a two-hundred day simple moving average of $76.79.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.44. The business had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.01 billion. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The company’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.29 EPS. Research analysts expect that Gilead Sciences, Inc. will post 4.38 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.08 dividend on an annualized basis and a yield of 3.42%. Gilead Sciences’s dividend payout ratio (DPR) is currently 3,422.22%.

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.