Meeder Asset Management Inc. Buys 42,444 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Meeder Asset Management Inc. raised its stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 28.8% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 190,035 shares of the biopharmaceutical company's stock after buying an additional 42,444 shares during the quarter. Gilead Sciences makes up about 1.1% of Meeder Asset Management Inc.'s investment portfolio, making the stock its 23rd largest holding. Meeder Asset Management Inc.'s holdings in Gilead Sciences were worth $15,933,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Concord Asset Management LLC VA lifted its holdings in Gilead Sciences by 3.8% in the third quarter. Concord Asset Management LLC VA now owns 3,056 shares of the biopharmaceutical company's stock worth $256,000 after purchasing an additional 111 shares during the period. TFB Advisors LLC lifted its holdings in Gilead Sciences by 1.2% in the 3rd quarter. TFB Advisors LLC now owns 9,397 shares of the biopharmaceutical company's stock valued at $788,000 after acquiring an additional 116 shares during the last quarter. Sumitomo Life Insurance Co. lifted its holdings in Gilead Sciences by 0.7% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 17,822 shares of the biopharmaceutical company's stock valued at $1,494,000 after acquiring an additional 117 shares during the last quarter. FDx Advisors Inc. lifted its holdings in Gilead Sciences by 2.2% in the 3rd quarter. FDx Advisors Inc. now owns 5,365 shares of the biopharmaceutical company's stock valued at $450,000 after acquiring an additional 117 shares during the last quarter. Finally, Sivia Capital Partners LLC lifted its holdings in Gilead Sciences by 3.9% in the 3rd quarter. Sivia Capital Partners LLC now owns 3,249 shares of the biopharmaceutical company's stock valued at $272,000 after acquiring an additional 123 shares during the last quarter. 83.67% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Maxim Group downgraded shares of Gilead Sciences from a "buy" rating to a "hold" rating in a report on Friday, November 8th. Cantor Fitzgerald upped their price target on shares of Gilead Sciences from $70.00 to $80.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. Citigroup began coverage on shares of Gilead Sciences in a report on Thursday, November 14th. They issued a "buy" rating and a $125.00 price target for the company. Oppenheimer boosted their price objective on Gilead Sciences from $95.00 to $105.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Finally, Wells Fargo & Company boosted their price objective on Gilead Sciences from $100.00 to $105.00 and gave the stock an "overweight" rating in a report on Thursday, November 7th. Eleven analysts have rated the stock with a hold rating, eleven have given a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $94.00.

Insiders Place Their Bets

In other news, insider Johanna Mercier sold 29,357 shares of the firm's stock in a transaction 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 sale, the insider now directly owns 78,127 shares in the company, valued at approximately $6,545,480.06. This trade represents a 27.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Merdad Parsey sold 2,000 shares of the firm's stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total value of $167,660.00. Following the completion of the transaction, the insider now owns 100,189 shares in the company, valued at approximately $8,398,843.87. This represents a 1.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 56,947 shares of company stock worth $4,968,674 over the last three months. 0.29% of the stock is currently owned by corporate insiders.

Gilead Sciences Stock Performance

Shares of GILD traded down $0.71 during mid-day trading on Tuesday, hitting $87.75. The company's stock had a trading volume of 8,171,754 shares, compared to its average volume of 7,116,128. Gilead Sciences, Inc. has a one year low of $62.07 and a one year high of $98.90. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.10 and a current ratio of 1.26. The firm has a market capitalization of $109.36 billion, a PE ratio of 975.00, a price-to-earnings-growth ratio of 2.74 and a beta of 0.17. The stock's 50-day moving average is $86.99 and its two-hundred day moving average is $76.44.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, beating 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 company had revenue of $7.55 billion during the quarter, compared to analysts' expectations of $7.01 billion. During the same period in the prior year, the business earned $2.29 earnings per share. Gilead Sciences's revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Gilead Sciences, Inc. will post 4.38 EPS for the current year.

Gilead Sciences Dividend Announcement

The business also recently disclosed 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 is Friday, December 13th. This represents a $3.08 annualized dividend and a yield of 3.51%. 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.