Kiltearn Partners LLP Makes New Investment in Gilead Sciences, Inc. (NASDAQ:GILD)

Kiltearn Partners LLP bought a new stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 72,600 shares of the biopharmaceutical company’s stock, valued at approximately $6,087,000.

A number of other hedge funds have also added to or reduced their stakes in the business. CarsonAllaria Wealth Management Ltd. grew its stake in shares of Gilead Sciences by 198.3% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 238 shares during the period. nVerses Capital LLC acquired a new position in shares of Gilead Sciences during the third quarter worth approximately $25,000. Valued Wealth Advisors LLC lifted its holdings in shares of Gilead Sciences by 101.9% in 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 in the last quarter. Cedar Wealth Management LLC grew its position in Gilead Sciences by 51.6% in the 2nd quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 160 shares during the period. Finally, Strategic Investment Solutions Inc. IL bought a new stake in Gilead Sciences during the 2nd quarter valued at $33,000. 83.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GILD has been the subject of several recent research reports. Leerink Partnrs upgraded Gilead Sciences from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Robert W. Baird boosted their target price on Gilead Sciences from $80.00 to $95.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Leerink Partners upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $74.00 to $96.00 in a report on Monday, October 21st. Piper Sandler raised their target price on Gilead Sciences from $95.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Finally, BMO Capital Markets boosted their target price on shares of Gilead Sciences from $94.00 to $102.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Twelve investment 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $95.41.

Insider Transactions at Gilead Sciences

In other Gilead Sciences news, insider Merdad Parsey sold 25,590 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the completion of the transaction, the insider now owns 99,599 shares of the company’s stock, valued at approximately $9,113,308.50. This trade represents a 20.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 completion of the transaction, the insider now owns 78,127 shares of the company’s stock, valued at approximately $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 ninety days, insiders sold 56,947 shares of company stock valued at $4,968,674. Company insiders own 0.29% of the company’s stock.

Gilead Sciences Stock Up 1.0 %

Shares of NASDAQ:GILD opened at $91.35 on Wednesday. The stock has a market capitalization of $113.85 billion, a P/E ratio of 1,015.00, a price-to-earnings-growth ratio of 2.81 and a beta of 0.17. The stock’s 50-day moving average price is $87.74 and its 200-day moving average price is $77.31. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24. Gilead Sciences, Inc. has a 12-month low of $62.07 and a 12-month high of $98.90.

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

Gilead Sciences Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date of this dividend is Friday, December 13th. Gilead Sciences’s payout ratio 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.