Fmr LLC Raises Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Fmr LLC lifted its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 79.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,162,319 shares of the biopharmaceutical company’s stock after acquiring an additional 14,680,161 shares during the quarter. Fmr LLC owned 2.66% of Gilead Sciences worth $2,780,329,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Avior Wealth Management LLC grew its holdings in Gilead Sciences by 1.2% in the third 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 position in shares of Gilead Sciences by 3.8% in the 3rd quarter. Concord Asset Management LLC VA now owns 3,056 shares of the biopharmaceutical company’s stock worth $256,000 after buying an additional 111 shares in the last quarter. TFB Advisors LLC boosted its position 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 worth $788,000 after buying an additional 116 shares in the last quarter. Sumitomo Life Insurance Co. grew its stake 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. Finally, FDx Advisors Inc. increased its holdings in Gilead Sciences by 2.2% during 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 in the last quarter. Institutional investors and hedge funds own 83.67% of the company’s stock.

Insider Transactions at Gilead Sciences

In other news, insider Merdad Parsey sold 25,590 shares of Gilead Sciences stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the sale, the insider now directly owns 99,599 shares of the company’s stock, valued at approximately $9,113,308.50. The trade was a 20.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Johanna Mercier sold 29,357 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total value of $2,459,529.46. Following the sale, the insider now owns 78,127 shares of the company’s stock, valued at approximately $6,545,480.06. This trade represents a 27.31 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,947 shares of company stock valued at $4,968,674. Corporate insiders own 0.29% of the company’s stock.

Gilead Sciences Stock Performance

NASDAQ:GILD opened at $90.49 on Tuesday. The firm’s fifty day simple moving average is $87.58 and its 200 day simple moving average is $77.13. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $98.90. The firm has a market capitalization of $112.77 billion, a price-to-earnings ratio of 1,005.44, a PEG ratio of 2.80 and a beta of 0.17.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.44. The company 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 firm’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.29 earnings per share. As a group, equities research analysts expect that Gilead Sciences, Inc. will post 4.37 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.40%. Gilead Sciences’s dividend payout ratio is currently 3,422.22%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GILD. Robert W. Baird raised their price objective on shares of Gilead Sciences from $80.00 to $95.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Truist Financial increased their target price on Gilead Sciences from $83.00 to $97.00 and gave the company a “hold” rating in a report on Friday, November 8th. Sanford C. Bernstein began coverage on Gilead Sciences in a research report on Thursday, October 17th. They set an “outperform” rating and a $105.00 price target for the company. Evercore ISI raised Gilead Sciences to a “strong-buy” rating in a research note on Friday, August 9th. Finally, BMO Capital Markets lifted their price objective on Gilead Sciences from $94.00 to $102.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Twelve investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock 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.