Stonegate Investment Group LLC Has $569,000 Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Stonegate Investment Group LLC trimmed its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 3.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,788 shares of the biopharmaceutical company’s stock after selling 244 shares during the quarter. Stonegate Investment Group LLC’s holdings in Gilead Sciences were worth $569,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. nVerses Capital LLC acquired a new position in shares of Gilead Sciences in the 3rd quarter valued at $25,000. CarsonAllaria Wealth Management Ltd. raised its position in 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 in the last quarter. Palisade Asset Management LLC bought a new position in Gilead Sciences during the first quarter worth about $29,000. Strategic Investment Solutions Inc. IL acquired a new stake in Gilead Sciences during the second quarter valued at approximately $33,000. Finally, Cedar Wealth Management LLC grew its stake in shares of Gilead Sciences by 51.6% in the 2nd 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. 83.67% of the stock is owned by institutional investors.

Insider Transactions at Gilead Sciences

In related news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total value of $167,660.00. Following the sale, the insider now directly owns 100,189 shares in the company, valued at $8,398,843.87. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Johanna Mercier sold 29,357 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the completion of the sale, the insider now directly owns 78,127 shares of the company’s stock, valued at approximately $6,545,480.06. This 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 link. Also, insider Merdad Parsey sold 2,000 shares of Gilead Sciences 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 completion of the transaction, the insider now directly owns 100,189 shares in the company, valued at approximately $8,398,843.87. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,847 shares of company stock worth $3,033,340. 0.16% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on GILD shares. Piper Sandler reaffirmed an “overweight” rating and issued a $95.00 price target on shares of Gilead Sciences in a research note on Wednesday, September 11th. Sanford C. Bernstein initiated coverage on shares of Gilead Sciences in a report on Thursday. They issued an “outperform” rating and a $105.00 target price on the stock. Raymond James raised shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price target for the company in a report on Monday, July 8th. Evercore ISI upgraded shares of Gilead Sciences to a “strong-buy” rating in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. raised their price target on Gilead Sciences from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Ten analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $86.37.

Gilead Sciences Trading Down 0.7 %

Shares of NASDAQ GILD opened at $86.72 on Friday. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $87.86. The firm has a market capitalization of $108.04 billion, a P/E ratio of 240.89, a P/E/G 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. The company’s 50 day simple moving average is $81.06 and its 200 day simple moving average is $72.80.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, beating 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 company had revenue of $6.95 billion for the quarter, compared to the consensus estimate of $6.64 billion. On average, analysts predict that Gilead Sciences, Inc. will post 3.78 EPS for the current year.

Gilead Sciences Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date of this dividend was Friday, September 13th. Gilead Sciences’s dividend payout ratio (DPR) is currently 855.56%.

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.