Cherry Creek Investment Advisors Inc. Purchases 317 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Cherry Creek Investment Advisors Inc. raised its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 6.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 5,260 shares of the biopharmaceutical company’s stock after acquiring an additional 317 shares during the period. Cherry Creek Investment Advisors Inc.’s holdings in Gilead Sciences were worth $441,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Gilead Sciences by 2.6% during the first quarter. Vanguard Group Inc. now owns 114,732,575 shares of the biopharmaceutical company’s stock valued at $8,404,161,000 after acquiring an additional 2,910,147 shares in the last quarter. Capital World Investors raised its holdings in shares of Gilead Sciences by 1.4% during the first quarter. Capital World Investors now owns 84,497,404 shares of the biopharmaceutical company’s stock valued at $6,189,435,000 after acquiring an additional 1,133,281 shares in the last quarter. Capital Research Global Investors raised its holdings in shares of Gilead Sciences by 2.7% during the first quarter. Capital Research Global Investors now owns 61,246,366 shares of the biopharmaceutical company’s stock valued at $4,486,296,000 after acquiring an additional 1,589,240 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Gilead Sciences by 0.8% during the second quarter. Legal & General Group Plc now owns 12,414,268 shares of the biopharmaceutical company’s stock valued at $851,743,000 after acquiring an additional 93,068 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Gilead Sciences by 2.6% during the second quarter. Dimensional Fund Advisors LP now owns 10,412,413 shares of the biopharmaceutical company’s stock valued at $714,421,000 after acquiring an additional 268,208 shares in the last quarter. Institutional investors own 83.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on GILD shares. JPMorgan Chase & Co. upped their target price on Gilead Sciences from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Royal Bank of Canada upped their price target on Gilead Sciences from $74.00 to $75.00 and gave the stock a “sector perform” rating in a research note on Friday, October 4th. Raymond James raised Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price target on the stock in a research note on Monday, July 8th. BMO Capital Markets upped their price target on Gilead Sciences from $85.00 to $94.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $70.00 price target on shares of Gilead Sciences in a research note on Monday, September 16th. Ten equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.85.

Gilead Sciences Trading Down 1.1 %

Shares of NASDAQ:GILD opened at $87.23 on Thursday. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $88.39. The stock’s fifty day moving average price is $81.87 and its 200-day moving average price is $73.17. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.14 and a quick ratio of 0.95. The company has a market cap of $108.68 billion, a P/E ratio of 242.31, a PEG ratio of 2.98 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, beating 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 company had revenue of $6.95 billion for the quarter, compared to the consensus estimate of $6.64 billion. Sell-side analysts expect that Gilead Sciences, Inc. will post 3.78 earnings per share for the current year.

Gilead Sciences Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 3.53%. The ex-dividend date of this dividend was Friday, September 13th. Gilead Sciences’s dividend payout ratio (DPR) is currently 855.56%.

Insider Transactions at Gilead Sciences

In related news, 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 sale, the insider now owns 78,127 shares in the company, valued at approximately $6,545,480.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the firm’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 completion of the transaction, the insider now owns 100,189 shares in the company, valued at $8,398,843.87. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Johanna Mercier sold 29,357 shares of the firm’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 owns 78,127 shares of the company’s stock, valued at $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 36,847 shares of company stock valued at $3,033,340 over the last quarter. 0.16% of the stock is currently owned by company 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.