Insider Selling: Gilead Sciences, Inc. (NASDAQ:GILD) Insider Sells 2,000 Shares of Stock

Gilead Sciences, Inc. (NASDAQ:GILD) insider Merdad Parsey sold 2,000 shares of the firm’s 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 owns 100,189 shares in the company, valued at approximately $8,398,843.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Gilead Sciences Stock Performance

NASDAQ GILD traded up $0.80 during trading hours on Wednesday, hitting $84.74. The company had a trading volume of 6,042,317 shares, compared to its average volume of 7,254,624. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 1.18. The firm has a market cap of $105.57 billion, a P/E ratio of 235.39, a price-to-earnings-growth ratio of 2.91 and a beta of 0.18. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $87.86. The business has a fifty day simple moving average of $78.53 and a 200-day simple moving average of $71.67.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.40. The firm had revenue of $6.95 billion for the quarter, compared to the consensus estimate of $6.64 billion. Gilead Sciences had a net margin of 3.79% and a return on equity of 29.34%. Equities analysts predict that Gilead Sciences, Inc. will post 3.78 EPS for the current year.

Gilead Sciences Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a dividend of $0.77 per share. The ex-dividend date was Friday, September 13th. This represents a $3.08 annualized dividend and a dividend yield of 3.63%. Gilead Sciences’s dividend payout ratio is presently 855.56%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GILD. BMO Capital Markets lifted their target price on shares of Gilead Sciences from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Truist Financial increased their target price on Gilead Sciences from $82.00 to $83.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Robert W. Baird reiterated a “neutral” rating and set a $80.00 price objective on shares of Gilead Sciences in a research note on Thursday, June 20th. 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. Finally, Royal Bank of Canada lifted their price target on shares of Gilead Sciences from $72.00 to $74.00 and gave the stock a “sector perform” rating in a research note on Wednesday, September 4th. Twelve investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $82.06.

Hedge Funds Weigh In On Gilead Sciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. CarsonAllaria Wealth Management Ltd. grew its stake 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 in the last quarter. Palisade Asset Management LLC acquired a new stake in Gilead Sciences in the first quarter worth about $29,000. Frank Rimerman Advisors LLC bought a new position in Gilead Sciences in the 4th quarter valued at about $36,000. Strategic Investment Solutions Inc. IL acquired a new position in Gilead Sciences during the 2nd quarter valued at about $33,000. Finally, Cedar Wealth Management LLC raised its position in shares of Gilead Sciences by 51.6% during the 2nd 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. 83.67% of the stock is owned by institutional investors.

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.