First Horizon Advisors Inc. Increases Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

First Horizon Advisors Inc. raised its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 8.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 274,687 shares of the biopharmaceutical company's stock after buying an additional 20,312 shares during the period. First Horizon Advisors Inc.'s holdings in Gilead Sciences were worth $23,030,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of GILD. Commerce Bank lifted its holdings in Gilead Sciences by 10.8% in the 3rd quarter. Commerce Bank now owns 72,494 shares of the biopharmaceutical company's stock worth $6,078,000 after buying an additional 7,055 shares in the last quarter. Prospera Private Wealth LLC lifted its stake in shares of Gilead Sciences by 18.9% in the third quarter. Prospera Private Wealth LLC now owns 15,144 shares of the biopharmaceutical company's stock worth $1,270,000 after acquiring an additional 2,407 shares in the last quarter. Avior Wealth Management LLC increased its holdings in Gilead Sciences by 1.2% during the 3rd quarter. Avior Wealth Management LLC now owns 9,422 shares of the biopharmaceutical company's stock worth $782,000 after purchasing an additional 108 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Gilead Sciences by 7.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 390,175 shares of the biopharmaceutical company's stock valued at $32,712,000 after purchasing an additional 27,283 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Gilead Sciences during the 3rd quarter valued at approximately $9,516,000. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Merdad Parsey sold 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total transaction of $167,660.00. Following the completion of the sale, the insider now owns 100,189 shares in the company, valued at $8,398,843.87. This trade represents a 1.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Johanna Mercier sold 29,357 shares of Gilead Sciences stock in a transaction dated 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 transaction, the insider now owns 78,127 shares of the company's stock, 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 ninety days, insiders sold 56,947 shares of company stock valued at $4,968,674. Corporate insiders own 0.29% of the company's stock.

Gilead Sciences Trading Up 1.0 %

Gilead Sciences stock traded up $0.88 during trading hours on Wednesday, hitting $88.63. The stock had a trading volume of 4,553,040 shares, compared to its average volume of 7,105,782. The business's 50 day simple moving average is $86.99 and its 200-day simple moving average is $76.44. Gilead Sciences, Inc. has a one year low of $62.07 and a one year high of $98.90. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 1.24. The stock has a market cap of $110.46 billion, a price-to-earnings ratio of 975.00, a P/E/G ratio of 2.74 and a beta of 0.17.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, beating analysts' consensus estimates of $1.58 by $0.44. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The business had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.01 billion. During the same quarter in the prior year, the firm posted $2.29 EPS. The company's revenue for the quarter was up 7.0% compared to the same quarter last year. On average, equities analysts predict that Gilead Sciences, Inc. will post 4.38 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Friday, December 13th. This represents a $3.08 annualized dividend and a yield of 3.48%. Gilead Sciences's payout ratio is 3,422.22%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on GILD shares. JPMorgan Chase & Co. raised their price objective on shares of Gilead Sciences from $100.00 to $105.00 and gave the stock an "overweight" rating in a report on Thursday, November 7th. BMO Capital Markets boosted their price objective on Gilead Sciences from $94.00 to $102.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. Barclays lifted their target price on Gilead Sciences from $84.00 to $95.00 and gave the stock an "equal weight" rating in a research report on Thursday, November 7th. Leerink Partners upgraded Gilead Sciences from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $74.00 to $96.00 in a research note on Monday, October 21st. Finally, Citigroup started coverage on shares of Gilead Sciences in a research note on Thursday, November 14th. They set a "buy" rating and a $125.00 target price for the company. Eleven research analysts have rated the stock with a hold rating, eleven have given a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $94.00.

About Gilead Sciences

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.