CIBC Asset Management Inc Purchases 22,624 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

CIBC Asset Management Inc boosted its position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 5.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 439,370 shares of the biopharmaceutical company's stock after acquiring an additional 22,624 shares during the period. CIBC Asset Management Inc's holdings in Gilead Sciences were worth $36,837,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. nVerses Capital LLC bought a new position in Gilead Sciences in the 3rd quarter worth $25,000. Valued Wealth Advisors LLC boosted its position 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 acquiring an additional 161 shares in the last quarter. CarsonAllaria Wealth Management Ltd. grew its holdings 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. Strategic Investment Solutions Inc. IL bought a new position in shares of Gilead Sciences in the 2nd quarter worth approximately $33,000. Finally, Cedar Wealth Management LLC lifted its stake in shares of 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 purchasing an additional 160 shares during the period. Hedge funds and other institutional investors own 83.67% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on GILD shares. Evercore ISI raised Gilead Sciences to a "strong-buy" rating in a research report on Friday, August 9th. Piper Sandler boosted their price objective on shares of Gilead Sciences from $95.00 to $105.00 and gave the stock an "overweight" rating in a research note on Thursday, November 7th. Robert W. Baird lifted their target price on shares of Gilead Sciences from $80.00 to $95.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. Maxim Group lowered Gilead Sciences from a "buy" rating to a "hold" rating in a research report on Friday, November 8th. Finally, The Goldman Sachs Group lifted their price target on Gilead Sciences from $74.00 to $84.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. Eleven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $93.86.

Insiders Place Their Bets

In related news, 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 transaction, the insider now directly owns 78,127 shares of the company's stock, valued at approximately $6,545,480.06. The trade was a 27.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Merdad Parsey sold 25,590 shares of Gilead Sciences stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the sale, the insider now owns 99,599 shares in the company, valued at approximately $9,113,308.50. The trade was a 20.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 56,947 shares of company stock worth $4,968,674 over the last three months. 0.16% of the stock is currently owned by company insiders.

Gilead Sciences Stock Performance

GILD traded down $3.71 during trading on Friday, hitting $88.40. The company's stock had a trading volume of 11,454,518 shares, compared to its average volume of 7,102,436. Gilead Sciences, Inc. has a one year low of $62.07 and a one year high of $98.90. The business's 50 day simple moving average is $86.68 and its 200-day simple moving average is $75.96. The company has a quick ratio of 0.82, a current ratio of 1.26 and a debt-to-equity ratio of 1.24. The firm has a market cap of $110.17 billion, a PE ratio of 982.22, a P/E/G ratio of 2.85 and a beta of 0.17.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced 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. The company had revenue of $7.55 billion for the quarter, compared to analysts' expectations of $7.01 billion. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. Gilead Sciences's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the firm earned $2.29 EPS. As a group, sell-side analysts predict that Gilead Sciences, Inc. will post 4.39 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend is Friday, December 13th. Gilead Sciences's dividend payout ratio is currently 3,422.22%.

Gilead Sciences 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.