ING Groep NV Acquires 109,788 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

ING Groep NV increased its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 38.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 392,685 shares of the biopharmaceutical company's stock after buying an additional 109,788 shares during the quarter. ING Groep NV's holdings in Gilead Sciences were worth $32,923,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Tokio Marine Asset Management Co. Ltd. boosted its holdings in Gilead Sciences by 15.4% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 35,439 shares of the biopharmaceutical company's stock valued at $2,971,000 after purchasing an additional 4,742 shares in the last quarter. Black Swift Group LLC acquired a new stake in Gilead Sciences during the third quarter valued at approximately $419,000. Curi RMB Capital LLC boosted its holdings in Gilead Sciences by 0.9% during the third quarter. Curi RMB Capital LLC now owns 87,850 shares of the biopharmaceutical company's stock valued at $7,365,000 after purchasing an additional 805 shares in the last quarter. Zions Bancorporation N.A. boosted its holdings in Gilead Sciences by 6.8% during the third quarter. Zions Bancorporation N.A. now owns 115,611 shares of the biopharmaceutical company's stock valued at $9,693,000 after purchasing an additional 7,331 shares in the last quarter. Finally, Plato Investment Management Ltd boosted its holdings in Gilead Sciences by 5.1% during the third quarter. Plato Investment Management Ltd now owns 50,821 shares of the biopharmaceutical company's stock valued at $4,257,000 after purchasing an additional 2,468 shares in the last quarter. 83.67% of the stock is owned by institutional investors and hedge funds.

Gilead Sciences Trading Down 0.6 %

GILD traded down $0.52 during trading on Thursday, reaching $92.11. 8,201,586 shares of the company's stock were exchanged, compared to its average volume of 7,082,286. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $98.90. The firm has a market capitalization of $114.68 billion, a PE ratio of 1,029.22, a P/E/G ratio of 2.91 and a beta of 0.17. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.82 and a current ratio of 1.11. The company's fifty day moving average price is $86.22 and its 200-day moving average price is $75.69.

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, beating the consensus estimate of $1.58 by $0.44. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The company had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.01 billion. During the same quarter in the previous year, the business earned $2.29 EPS. The firm's revenue was up 7.0% on a year-over-year basis. As a group, equities analysts forecast that Gilead Sciences, Inc. will post 4.39 EPS for the current year.

Gilead Sciences Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend is Friday, December 13th. Gilead Sciences's dividend payout ratio (DPR) is 3,422.22%.

Insider Activity

In related news, insider Johanna Mercier sold 29,357 shares of the company's stock in a transaction on Thursday, September 12th. The shares were 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 directly owns 78,127 shares of the company's stock, valued at approximately $6,545,480.06. This represents a 27.31 % decrease in their position. The sale 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 the company's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the completion of the transaction, the insider now directly owns 99,599 shares of the company's stock, valued at approximately $9,113,308.50. The trade was a 20.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 56,947 shares of company stock valued at $4,968,674 in the last quarter. Company insiders own 0.16% of the company's stock.

Wall Street Analysts Forecast Growth

GILD has been the topic of a number of recent research reports. Robert W. Baird lifted their price objective on Gilead Sciences from $80.00 to $95.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. Evercore ISI upgraded shares of Gilead Sciences to a "strong-buy" rating in a research note on Friday, August 9th. Leerink Partners upgraded shares of Gilead Sciences from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $74.00 to $96.00 in a research note on Monday, October 21st. Maxim Group cut shares of Gilead Sciences from a "buy" rating to a "hold" rating in a research note on Friday, November 8th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Gilead Sciences in a research note on Thursday, November 7th. Eleven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $93.10.

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.