Tidal Investments LLC lifted its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 9.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 111,464 shares of the biopharmaceutical company's stock after purchasing an additional 10,078 shares during the period. Tidal Investments LLC's holdings in Gilead Sciences were worth $9,345,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. CarsonAllaria Wealth Management Ltd. increased its stake in 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 purchasing an additional 238 shares during the last quarter. nVerses Capital LLC purchased a new position in shares of Gilead Sciences during the 3rd quarter worth about $25,000. Valued Wealth Advisors LLC boosted its position in shares of Gilead Sciences by 101.9% in the third quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company's stock worth $27,000 after acquiring an additional 161 shares during the last quarter. Cedar Wealth Management LLC grew its holdings in Gilead Sciences by 51.6% in the second 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. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Gilead Sciences during the second quarter worth approximately $33,000. 83.67% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on GILD shares. Barclays raised their price objective on Gilead Sciences from $84.00 to $95.00 and gave the stock an "equal weight" rating in a report on Thursday, November 7th. Wolfe Research initiated coverage on shares of Gilead Sciences in a research report on Friday, November 15th. They set an "outperform" rating and a $110.00 price target on the stock. Leerink Partnrs raised shares of Gilead Sciences from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 21st. The Goldman Sachs Group lifted their target price on shares of Gilead Sciences from $74.00 to $84.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $84.00 price target on shares of Gilead Sciences in a report on Wednesday. Twelve research analysts have rated the stock with a hold rating, twelve have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $96.43.
Check Out Our Latest Analysis on Gilead Sciences
Insiders Place Their Bets
In other Gilead Sciences news, CFO Andrew D. Dickinson sold 248,645 shares of the business's stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $92.76, for a total transaction of $23,064,310.20. Following the sale, the chief financial officer now directly owns 138,919 shares in the company, valued at approximately $12,886,126.44. The trade was a 64.16 % decrease in their position. The transaction 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 shares were 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 in the company, valued at $8,398,843.87. This represents a 1.96 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 447,234 shares of company stock worth $41,288,086. Insiders own 0.16% of the company's stock.
Gilead Sciences Stock Performance
NASDAQ GILD traded up $0.35 during trading hours on Friday, reaching $91.96. The company's stock had a trading volume of 4,502,756 shares, compared to its average volume of 7,055,015. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24. The business has a 50-day simple moving average of $89.82 and a 200 day simple moving average of $79.26. Gilead Sciences, Inc. has a 52 week low of $62.07 and a 52 week high of $98.90. The stock has a market cap of $114.61 billion, a PE ratio of 1,026.44, a PEG ratio of 2.38 and a beta of 0.18.
Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.44. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The business had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.01 billion. During the same quarter last year, the business posted $2.29 EPS. The business's revenue was up 7.0% on a year-over-year basis. Equities research analysts predict that Gilead Sciences, Inc. will post 4.35 earnings per share for the current fiscal 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 dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date is Friday, December 13th. Gilead Sciences's payout ratio is 3,422.22%.
Gilead Sciences Company Profile
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Free Report)
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.
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