Lazari Capital Management Inc. Cuts Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Lazari Capital Management Inc. reduced its stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 51.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,128 shares of the biopharmaceutical company's stock after selling 11,867 shares during the quarter. Lazari Capital Management Inc.'s holdings in Gilead Sciences were worth $933,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Manning & Napier Advisors LLC purchased a new position in Gilead Sciences in the second quarter worth $25,328,000. Legal & General Group Plc boosted its holdings in shares of Gilead Sciences by 0.8% in the 2nd quarter. Legal & General Group Plc now owns 12,414,268 shares of the biopharmaceutical company's stock worth $851,743,000 after purchasing an additional 93,068 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of Gilead Sciences during the 1st quarter valued at about $462,000. Brookstone Capital Management raised its holdings in shares of Gilead Sciences by 751.1% during the 1st quarter. Brookstone Capital Management now owns 127,258 shares of the biopharmaceutical company's stock valued at $9,322,000 after buying an additional 112,305 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in Gilead Sciences by 13.1% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 286,116 shares of the biopharmaceutical company's stock worth $19,630,000 after buying an additional 33,162 shares during the last quarter. Hedge funds and other institutional investors own 83.67% of the company's stock.

Gilead Sciences Trading Up 2.2 %

NASDAQ:GILD opened at $88.16 on Wednesday. The firm has a market capitalization of $109.83 billion, a P/E ratio of 244.89, a PEG ratio of 2.98 and a beta of 0.18. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.14 and a quick ratio of 0.95. Gilead Sciences, Inc. has a one year low of $62.07 and a one year high of $88.36. The company's 50-day simple moving average is $81.61 and its 200 day simple moving average is $73.07.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 EPS for the quarter, topping analysts' consensus estimates of $1.61 by $0.40. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. The firm had revenue of $6.95 billion for the quarter, compared to analysts' expectations of $6.64 billion. As a group, analysts forecast that Gilead Sciences, Inc. will post 3.78 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 3.49%. The ex-dividend date of this dividend was Friday, September 13th. Gilead Sciences's dividend payout ratio is presently 855.56%.

Insider Buying and Selling

In other Gilead Sciences news, insider Johanna Mercier sold 5,490 shares of the firm's stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total transaction of $406,150.20. Following the completion of the sale, the insider now directly owns 114,979 shares in the company, valued at approximately $8,506,146.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Gilead Sciences news, insider Johanna Mercier sold 5,490 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total transaction of $406,150.20. Following the sale, the insider now directly owns 114,979 shares in the company, valued at approximately $8,506,146.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Merdad Parsey sold 2,000 shares of the business's stock in a transaction on Tuesday, October 1st. The stock was 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 of the company's stock, valued at $8,398,843.87. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,847 shares of company stock worth $3,033,340 in the last quarter. Corporate insiders own 0.16% of the company's stock.

Wall Street Analysts Forecast Growth

GILD has been the subject of several recent research reports. Wells Fargo & Company raised shares of Gilead Sciences from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $78.00 to $100.00 in a research note on Monday, October 7th. BMO Capital Markets lifted their target price on shares of Gilead Sciences from $85.00 to $94.00 and gave the stock an "outperform" rating in a research note on Thursday, October 17th. Piper Sandler reiterated an "overweight" rating and set a $95.00 price target on shares of Gilead Sciences in a report on Wednesday, September 11th. JPMorgan Chase & Co. raised their price target on shares of Gilead Sciences from $95.00 to $100.00 and gave the stock an "overweight" rating in a report on Wednesday, October 9th. Finally, Leerink Partnrs raised shares of Gilead Sciences from a "hold" rating to a "strong-buy" rating in a research note on Monday. Ten research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $86.85.

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.

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