Summit Trail Advisors LLC Boosts Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Summit Trail Advisors LLC boosted its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 22.1% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,884 shares of the biopharmaceutical company’s stock after buying an additional 3,779 shares during the quarter. Summit Trail Advisors LLC’s holdings in Gilead Sciences were worth $1,751,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GILD. CarsonAllaria Wealth Management Ltd. lifted its stake in shares of Gilead Sciences by 198.3% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 238 shares during the period. nVerses Capital LLC purchased a new position in shares of Gilead Sciences during the 3rd quarter worth $25,000. Valued Wealth Advisors LLC lifted its stake in shares of Gilead Sciences by 101.9% during the 3rd quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 161 shares during the period. Cedar Wealth Management LLC lifted its stake 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 purchasing an additional 160 shares during the period. Finally, Strategic Investment Solutions Inc. IL purchased a new position in shares of Gilead Sciences during the 2nd quarter worth $33,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Insider Activity

In other 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 transaction, the insider now directly owns 100,189 shares in the company, valued at approximately $8,398,843.87. This represents a 1.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Johanna Mercier sold 29,357 shares of the company’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 transaction, the insider now owns 78,127 shares in the company, valued at $6,545,480.06. The trade was a 27.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,947 shares of company stock worth $4,968,674. Corporate insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Robert W. Baird increased their price target on Gilead Sciences from $80.00 to $95.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Wolfe Research assumed coverage on Gilead Sciences in a report on Friday, November 15th. They set an “outperform” rating and a $110.00 price objective for the company. Barclays upped their price objective on Gilead Sciences from $84.00 to $95.00 and gave the stock an “equal weight” rating in a report on Thursday, November 7th. Cantor Fitzgerald upped their price objective on Gilead Sciences from $70.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Mizuho upped their price objective on Gilead Sciences from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday. Twelve equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Gilead Sciences has an average rating of “Moderate Buy” and a consensus price target of $95.41.

Gilead Sciences Trading Up 0.5 %

Gilead Sciences stock opened at $90.19 on Monday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.10 and a current ratio of 1.26. The firm has a market cap of $112.40 billion, a price-to-earnings ratio of 1,002.11, a price-to-earnings-growth ratio of 2.80 and a beta of 0.17. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $98.90. The firm’s 50 day moving average price is $87.43 and its two-hundred day moving average price is $76.95.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.44. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The company had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.01 billion. During the same quarter last year, the business posted $2.29 EPS. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, research analysts predict that Gilead Sciences, Inc. will post 4.37 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.08 annualized dividend and a dividend yield of 3.42%. Gilead Sciences’s dividend payout ratio (DPR) is currently 3,422.22%.

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.