Gilead Sciences, Inc. (NASDAQ:GILD) Stake Lessened by Canopy Partners LLC

Canopy Partners LLC lessened its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 2.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,380 shares of the biopharmaceutical company’s stock after selling 115 shares during the quarter. Canopy Partners LLC’s holdings in Gilead Sciences were worth $367,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in GILD. Avior Wealth Management LLC lifted its stake in shares of Gilead Sciences by 1.2% in the 3rd quarter. Avior Wealth Management LLC now owns 9,422 shares of the biopharmaceutical company’s stock valued at $782,000 after purchasing an additional 108 shares during the last quarter. Concord Asset Management LLC VA boosted its stake in shares of Gilead Sciences by 3.8% during the 3rd quarter. Concord Asset Management LLC VA now owns 3,056 shares of the biopharmaceutical company’s stock worth $256,000 after acquiring an additional 111 shares in the last quarter. TFB Advisors LLC raised its stake in shares of 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 in the last quarter. Sumitomo Life Insurance Co. boosted its position in Gilead Sciences by 0.7% during the third quarter. Sumitomo Life Insurance Co. now owns 17,822 shares of the biopharmaceutical company’s stock worth $1,494,000 after purchasing an additional 117 shares during the period. Finally, FDx Advisors Inc. raised its position in shares of Gilead Sciences by 2.2% in the third quarter. FDx Advisors Inc. now owns 5,365 shares of the biopharmaceutical company’s stock valued at $450,000 after purchasing an additional 117 shares during the period. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Gilead Sciences Stock Up 0.5 %

Shares of NASDAQ:GILD opened at $90.19 on Friday. The company’s fifty day moving average is $87.43 and its 200-day moving average is $76.79. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.10 and a current ratio of 1.26. Gilead Sciences, Inc. has a 52 week low of $62.07 and a 52 week high of $98.90. The company has a market capitalization of $112.40 billion, a PE ratio of 1,002.11, a P/E/G ratio of 2.78 and a beta of 0.17.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, beating the consensus estimate of $1.58 by $0.44. The company had revenue of $7.55 billion during 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 for the quarter was up 7.0% on a year-over-year basis. During the same period last year, the firm earned $2.29 EPS. Equities research analysts predict that Gilead Sciences, Inc. will post 4.38 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be given a dividend of $0.77 per share. The ex-dividend date is Friday, December 13th. This represents a $3.08 dividend on an annualized basis and a yield of 3.42%. Gilead Sciences’s payout ratio is presently 3,422.22%.

Insider Transactions at Gilead Sciences

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 transaction, the insider now directly owns 78,127 shares in the company, valued at $6,545,480.06. This trade represents a 27.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total value of $167,660.00. Following the transaction, the insider now owns 100,189 shares of the company’s stock, valued at $8,398,843.87. The trade was a 1.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 56,947 shares of company stock worth $4,968,674 in the last quarter. 0.16% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on GILD shares. 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. The Goldman Sachs Group lifted their price objective on Gilead Sciences from $74.00 to $84.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. increased their target price on Gilead Sciences from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Citigroup initiated coverage on Gilead Sciences in a research report on Thursday, November 14th. They issued a “buy” rating and a $125.00 price objective for the company. Finally, Barclays upped their target price on shares of Gilead Sciences from $84.00 to $95.00 and gave the company an “equal weight” rating in a research note on Thursday, November 7th. Twelve equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $95.41.

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.