CX Institutional Boosts Position in Gilead Sciences, Inc. (NASDAQ:GILD)

CX Institutional lifted its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 34.2% in the 3rd quarter, Holdings Channel.com reports. The fund owned 60,987 shares of the biopharmaceutical company’s stock after buying an additional 15,545 shares during the quarter. CX Institutional’s holdings in Gilead Sciences were worth $5,113,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in GILD. Manning & Napier Advisors LLC purchased a new position in shares of Gilead Sciences in the second quarter valued at $25,328,000. Legal & General Group Plc lifted its holdings in Gilead Sciences by 0.8% in the 2nd quarter. Legal & General Group Plc now owns 12,414,268 shares of the biopharmaceutical company’s stock worth $851,743,000 after buying an additional 93,068 shares in the last quarter. GSA Capital Partners LLP purchased a new position in Gilead Sciences in the 1st quarter valued at about $462,000. Brookstone Capital Management grew its stake in shares of Gilead Sciences by 751.1% during the first quarter. Brookstone Capital Management now owns 127,258 shares of the biopharmaceutical company’s stock valued at $9,322,000 after acquiring an additional 112,305 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Gilead Sciences by 13.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 286,116 shares of the biopharmaceutical company’s stock worth $19,630,000 after acquiring an additional 33,162 shares during the last quarter. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on GILD shares. Cantor Fitzgerald reissued a “neutral” rating and issued a $70.00 price target on shares of Gilead Sciences in a report on Monday, September 16th. Robert W. Baird reissued a “neutral” rating and set a $80.00 price target on shares of Gilead Sciences in a research report 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 on the stock in a report on Monday, July 8th. Piper Sandler reissued an “overweight” rating and set a $95.00 price objective on shares of Gilead Sciences in a report on Wednesday, September 11th. Finally, Wells Fargo & Company upgraded shares of Gilead Sciences from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $78.00 to $100.00 in a research note on Monday, October 7th. Ten equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Gilead Sciences currently has a consensus rating of “Moderate Buy” and an average target price of $84.83.

Gilead Sciences Trading Up 0.9 %

Shares of NASDAQ GILD opened at $85.82 on Wednesday. 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 $106.92 billion, a price-to-earnings ratio of 238.39, a price-to-earnings-growth ratio of 2.98 and a beta of 0.18. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 1.18. The stock’s 50 day simple moving average is $80.31 and its 200 day simple moving average is $72.51.

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

Gilead Sciences Dividend Announcement

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 3.59%. The ex-dividend date was Friday, September 13th. Gilead Sciences’s dividend payout ratio (DPR) is 855.56%.

Insider Buying and Selling at Gilead Sciences

In other news, insider Johanna Mercier sold 29,357 shares of the business’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 transaction of $2,459,529.46. Following the completion of the transaction, the insider now directly owns 78,127 shares in the company, valued at approximately $6,545,480.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Johanna Mercier sold 29,357 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the completion of the transaction, the insider now owns 78,127 shares of the company’s stock, valued at $6,545,480.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,847 shares of company stock worth $3,033,340. 0.16% of the stock is owned by company insiders.

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.