Creative Planning Grows Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Creative Planning raised its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 16.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 219,045 shares of the biopharmaceutical company’s stock after acquiring an additional 30,451 shares during the period. Creative Planning’s holdings in Gilead Sciences were worth $18,365,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of GILD. 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 acquiring an additional 238 shares during the last quarter. Palisade Asset Management LLC purchased a new stake in shares of Gilead Sciences during the first quarter valued at $29,000. Cedar Wealth Management LLC boosted its position in shares of Gilead Sciences by 51.6% during the second quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 160 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Gilead Sciences during the second quarter valued at $33,000. Finally, Financial Connections Group Inc. purchased a new stake in shares of Gilead Sciences during the second quarter valued at $34,000. 83.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Piper Sandler reaffirmed an “overweight” rating and set a $95.00 price objective on shares of Gilead Sciences in a research report on Wednesday, September 11th. JPMorgan Chase & Co. increased their price objective on Gilead Sciences from $95.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Leerink Partners raised Gilead Sciences from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $74.00 to $96.00 in a research report on Monday. Wells Fargo & Company raised Gilead Sciences from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $78.00 to $100.00 in a research report on Monday, October 7th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a research report on Thursday, August 15th. Ten equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $86.85.

Gilead Sciences Stock Performance

NASDAQ:GILD opened at $86.29 on Tuesday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.14 and a quick ratio of 0.95. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $87.86. The stock’s 50 day simple moving average is $81.32 and its two-hundred day simple moving average is $72.94. The company has a market cap of $107.50 billion, a price-to-earnings ratio of 239.69, a PEG ratio of 2.98 and a beta of 0.18.

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

Gilead Sciences Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date was Friday, September 13th. Gilead Sciences’s payout ratio is 855.56%.

Insiders Place Their Bets

In other Gilead Sciences news, insider Johanna Mercier sold 29,357 shares of Gilead Sciences 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 sale, the insider now owns 78,127 shares of the company’s stock, valued at $6,545,480.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Merdad Parsey sold 2,000 shares of the business’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 transaction of $167,660.00. Following the transaction, the insider now owns 100,189 shares of the company’s stock, valued at approximately $8,398,843.87. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Johanna Mercier sold 29,357 shares of the business’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 transaction, the insider now directly owns 78,127 shares in the company, valued at approximately $6,545,480.06. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,847 shares of company stock valued at $3,033,340 in the last quarter. 0.16% of the stock is currently owned by insiders.

Gilead Sciences 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.