Royal Fund Management LLC Acquires 2,577 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Royal Fund Management LLC boosted its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 13.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 22,140 shares of the biopharmaceutical company’s stock after purchasing an additional 2,577 shares during the quarter. Royal Fund Management LLC’s holdings in Gilead Sciences were worth $1,857,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC acquired a new position in shares of Gilead Sciences during the third quarter valued at about $184,000. Hoxton Planning & Management LLC increased its position in Gilead Sciences by 14.1% in the 3rd quarter. Hoxton Planning & Management LLC now owns 3,880 shares of the biopharmaceutical company’s stock valued at $325,000 after buying an additional 480 shares in the last quarter. Brookstone Capital Management raised its stake in Gilead Sciences by 0.7% during the 3rd quarter. Brookstone Capital Management now owns 146,852 shares of the biopharmaceutical company’s stock worth $12,312,000 after buying an additional 992 shares during the period. FCF Advisors LLC boosted its holdings in Gilead Sciences by 8.4% in the third quarter. FCF Advisors LLC now owns 75,469 shares of the biopharmaceutical company’s stock worth $6,327,000 after acquiring an additional 5,837 shares in the last quarter. Finally, Atomi Financial Group Inc. grew its stake in Gilead Sciences by 36.0% in the third quarter. Atomi Financial Group Inc. now owns 6,081 shares of the biopharmaceutical company’s stock valued at $510,000 after acquiring an additional 1,610 shares during the period. 83.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Raymond James upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 target price on the stock in a report on Monday, July 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research note on Thursday, August 15th. Evercore ISI raised shares of Gilead Sciences to a “strong-buy” rating in a research report on Friday, August 9th. Wells Fargo & Company raised shares of Gilead Sciences from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $78.00 to $100.00 in a research report on Monday. Finally, Royal Bank of Canada lifted their price target on Gilead Sciences from $74.00 to $75.00 and gave the company a “sector perform” rating in a research note on Friday, October 4th. Eleven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $83.94.

Insider Buying and Selling at Gilead Sciences

In other news, insider Johanna Mercier sold 5,490 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total value of $406,150.20. Following the completion of the transaction, the insider now directly owns 114,979 shares of the company’s stock, valued at $8,506,146.42. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Merdad Parsey sold 2,000 shares of the company’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 sale, the insider now owns 100,189 shares of the company’s stock, valued at approximately $8,398,843.87. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Johanna Mercier sold 5,490 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total transaction of $406,150.20. Following the completion of the transaction, the insider now directly owns 114,979 shares of the company’s stock, valued at approximately $8,506,146.42. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,847 shares of company stock valued at $3,033,340 in the last 90 days. 0.16% of the stock is currently owned by company insiders.

Gilead Sciences Stock Performance

Shares of NASDAQ GILD traded up $0.87 during trading on Wednesday, reaching $86.08. 383,869 shares of the stock traded hands, compared to its average volume of 7,159,940. 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 stock has a market capitalization of $107.24 billion, a P/E ratio of 236.69, a price-to-earnings-growth ratio of 2.91 and a beta of 0.18. Gilead Sciences, Inc. has a 52-week low of $62.07 and a 52-week high of $87.86. The company has a 50-day moving average of $79.34 and a 200-day moving average of $72.07.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $2.01 EPS for the quarter, beating the consensus estimate of $1.61 by $0.40. The business 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%. Analysts forecast that Gilead Sciences, Inc. will post 3.78 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a $0.77 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.08 dividend on an annualized basis and a yield of 3.58%. Gilead Sciences’s dividend payout ratio is 855.56%.

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.