2,484 Shares in Gilead Sciences, Inc. (NASDAQ:GILD) Acquired by Asset Management Group Inc.

Asset Management Group Inc. acquired a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 2,484 shares of the biopharmaceutical company’s stock, valued at approximately $208,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. CarsonAllaria Wealth Management Ltd. grew its holdings in 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 acquiring an additional 238 shares during the last quarter. nVerses Capital LLC bought a new stake in Gilead Sciences during the 3rd quarter worth approximately $25,000. Valued Wealth Advisors LLC grew its holdings in 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 acquiring an additional 161 shares during the last quarter. Cedar Wealth Management LLC grew its holdings in 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 acquiring an additional 160 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new stake in Gilead Sciences during the 2nd quarter worth approximately $33,000. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Robert W. Baird boosted their target price on shares of Gilead Sciences from $80.00 to $95.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Leerink Partners raised shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $74.00 to $96.00 in a report on Monday, October 21st. Sanford C. Bernstein assumed coverage on shares of Gilead Sciences in a research note on Thursday, October 17th. They issued an “outperform” rating and a $105.00 price objective on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research note on Thursday, November 7th. Finally, Truist Financial upped their price objective on shares of Gilead Sciences from $83.00 to $97.00 and gave the company a “hold” rating in a research note on Friday, November 8th. Twelve equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, Gilead Sciences currently has a consensus rating of “Moderate Buy” and an average target price of $95.41.

Gilead Sciences Stock Performance

GILD opened at $89.84 on Friday. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24. The company’s fifty day moving average price is $87.28 and its two-hundred day moving average price is $76.61. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $98.90. The company has a market cap of $111.96 billion, a price-to-earnings ratio of 998.22, a PEG ratio of 2.72 and a beta of 0.17.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.44. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The firm had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.01 billion. During the same quarter in the prior year, the company posted $2.29 earnings per share. The business’s revenue was up 7.0% on a year-over-year basis. On average, analysts expect that Gilead Sciences, Inc. will post 4.38 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be issued a $0.77 dividend. The ex-dividend date is Friday, December 13th. This represents a $3.08 annualized dividend and a dividend yield of 3.43%. Gilead Sciences’s dividend payout ratio is currently 3,422.22%.

Insider Activity

In other news, insider Johanna Mercier sold 29,357 shares of the stock in a transaction dated 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 completion of the sale, the insider now owns 78,127 shares in the company, valued at $6,545,480.06. This represents a 27.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Merdad Parsey sold 2,000 shares of the 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 completion of the sale, the insider now owns 100,189 shares of the company’s stock, valued at approximately $8,398,843.87. This represents a 1.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 56,947 shares of company stock worth $4,968,674 over the last quarter. Insiders own 0.16% of the company’s stock.

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.