Global Retirement Partners LLC Grows Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Global Retirement Partners LLC raised its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 11.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,788 shares of the biopharmaceutical company’s stock after buying an additional 933 shares during the period. Global Retirement Partners LLC’s holdings in Gilead Sciences were worth $737,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Manning & Napier Advisors LLC acquired a new position in shares of Gilead Sciences during the second quarter worth about $25,328,000. Legal & General Group Plc boosted its holdings in Gilead Sciences by 0.8% in the second quarter. Legal & General Group Plc now owns 12,414,268 shares of the biopharmaceutical company’s stock valued at $851,743,000 after purchasing an additional 93,068 shares in the last quarter. GSA Capital Partners LLP acquired a new position in Gilead Sciences in the first quarter valued at approximately $462,000. Brookstone Capital Management boosted its holdings in Gilead Sciences by 751.1% in the first quarter. Brookstone Capital Management now owns 127,258 shares of the biopharmaceutical company’s stock valued at $9,322,000 after purchasing an additional 112,305 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Gilead Sciences by 13.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 286,116 shares of the biopharmaceutical company’s stock valued at $19,630,000 after purchasing an additional 33,162 shares in the last quarter. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Gilead Sciences Trading Down 0.7 %

Shares of NASDAQ GILD opened at $86.72 on Monday. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $87.86. The company has a market cap of $108.04 billion, a price-to-earnings ratio of 240.89, a P/E/G ratio of 2.98 and a beta of 0.18. 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 business has a fifty day simple moving average of $81.06 and a 200-day simple moving average of $72.82.

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 the consensus estimate of $1.61 by $0.40. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. The firm had revenue of $6.95 billion for the quarter, compared to analyst estimates of $6.64 billion. Sell-side analysts predict that Gilead Sciences, Inc. will post 3.78 EPS for the current year.

Gilead Sciences Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 3.55%. The ex-dividend date was Friday, September 13th. Gilead Sciences’s payout ratio is currently 855.56%.

Insider Activity

In other news, insider Johanna Mercier sold 29,357 shares of the stock in a transaction dated 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 transaction, the insider now 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total value of $167,660.00. Following the completion of the sale, the insider now owns 100,189 shares in the company, valued at approximately $8,398,843.87. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Johanna Mercier sold 29,357 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 78,127 shares of the company’s stock, valued at $6,545,480.06. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,847 shares of company stock valued at $3,033,340. Insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on GILD shares. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $70.00 price target on shares of Gilead Sciences in a report on Monday, September 16th. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a report on Thursday, August 15th. Wells Fargo & Company raised Gilead Sciences from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $78.00 to $100.00 in a report on Monday, October 7th. Truist Financial boosted their price objective on Gilead Sciences from $82.00 to $83.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $95.00 price objective on shares of Gilead Sciences in a research note on Wednesday, September 11th. Ten research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Gilead Sciences currently has a consensus rating of “Moderate Buy” and an average price target of $86.37.

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.