40,314 Shares in Gilead Sciences, Inc. (NASDAQ:GILD) Purchased by Tri Ri Asset Management Corp

Tri Ri Asset Management Corp bought a new position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 40,314 shares of the biopharmaceutical company's stock, valued at approximately $3,380,000. Gilead Sciences accounts for approximately 1.7% of Tri Ri Asset Management Corp's investment portfolio, making the stock its 23rd biggest holding.

Other hedge funds have also added to or reduced their stakes in the company. nVerses Capital LLC purchased a new position in Gilead Sciences during the third quarter valued at approximately $25,000. Valued Wealth Advisors LLC boosted its holdings in Gilead Sciences by 101.9% in the 3rd quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company's stock valued at $27,000 after purchasing an additional 161 shares during the period. CarsonAllaria Wealth Management Ltd. increased its holdings in shares of Gilead Sciences by 198.3% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company's stock worth $25,000 after purchasing an additional 238 shares during the period. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Gilead Sciences in the second quarter worth $33,000. Finally, Cedar Wealth Management LLC grew its position in Gilead Sciences by 51.6% during the second quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company's stock worth $32,000 after buying an additional 160 shares in the last quarter. Hedge funds and other institutional investors own 83.67% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on GILD shares. Bank of America reaffirmed a "buy" rating and issued a $109.00 price target on shares of Gilead Sciences in a report on Tuesday. Piper Sandler raised their target price on shares of Gilead Sciences from $95.00 to $105.00 and gave the company an "overweight" rating in a research note on Thursday, November 7th. Leerink Partnrs raised shares of Gilead Sciences from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 21st. Royal Bank of Canada restated a "sector perform" rating and set a $84.00 price objective on shares of Gilead Sciences in a research report on Wednesday. Finally, Wolfe Research began coverage on shares of Gilead Sciences in a research report on Friday, November 15th. They issued an "outperform" rating and a $110.00 target price for the company. Twelve equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, Gilead Sciences has a consensus rating of "Moderate Buy" and an average price target of $96.43.

Insider Transactions at Gilead Sciences

In other Gilead Sciences news, insider Merdad Parsey sold 164,211 shares of the business's stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $91.92, for a total value of $15,094,275.12. Following the sale, the insider now directly owns 80,801 shares of the company's stock, valued at approximately $7,427,227.92. The trade was a 67.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Andrew D. Dickinson sold 248,645 shares of the firm'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 owns 138,919 shares of the company's stock, valued at approximately $12,886,126.44. This represents a 64.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 447,234 shares of company stock valued at $41,288,086 in the last three months. 0.16% of the stock is currently owned by company insiders.

Gilead Sciences Trading Up 0.3 %

NASDAQ GILD traded up $0.25 during trading on Friday, hitting $91.86. The company had a trading volume of 6,888,210 shares, compared to its average volume of 7,065,712. Gilead Sciences, Inc. has a one year low of $62.07 and a one year high of $98.90. 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 company's fifty day moving average is $89.82 and its 200-day moving average is $79.26. The company has a market cap of $114.48 billion, a price-to-earnings ratio of 1,026.44, a price-to-earnings-growth ratio of 2.38 and a beta of 0.18.

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. The business had revenue of $7.55 billion for the quarter, compared to analysts' expectations of $7.01 billion. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The business's revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.29 EPS. On average, sell-side analysts predict that Gilead Sciences, Inc. will post 4.35 earnings per share for the current year.

Gilead Sciences Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend is Friday, December 13th. Gilead Sciences's dividend payout ratio (DPR) is presently 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.