Concorde Asset Management LLC Takes $211,000 Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Concorde Asset Management LLC acquired a new stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,520 shares of the biopharmaceutical company’s stock, valued at approximately $211,000.

A number of other institutional investors and hedge funds also recently modified their holdings of GILD. Legal & General Group Plc grew its holdings in shares of Gilead Sciences by 0.8% during the 2nd quarter. Legal & General Group Plc now owns 12,414,268 shares of the biopharmaceutical company’s stock worth $851,743,000 after purchasing an additional 93,068 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Gilead Sciences by 2.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 10,412,413 shares of the biopharmaceutical company’s stock worth $714,421,000 after purchasing an additional 268,208 shares during the period. Pacer Advisors Inc. grew its holdings in shares of Gilead Sciences by 24.7% during the 2nd quarter. Pacer Advisors Inc. now owns 7,889,663 shares of the biopharmaceutical company’s stock worth $541,310,000 after purchasing an additional 1,564,792 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Gilead Sciences by 3.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,752,975 shares of the biopharmaceutical company’s stock worth $650,009,000 after purchasing an additional 224,960 shares during the period. Finally, Van ECK Associates Corp grew its holdings in shares of Gilead Sciences by 0.4% during the 3rd quarter. Van ECK Associates Corp now owns 6,342,831 shares of the biopharmaceutical company’s stock worth $553,285,000 after purchasing an additional 22,847 shares during the period. Institutional investors and hedge funds own 83.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Barclays boosted their target price on Gilead Sciences from $84.00 to $95.00 and gave the stock an “equal weight” rating in a report on Thursday, November 7th. UBS Group upped their price target on Gilead Sciences from $70.00 to $96.00 and gave the stock a “neutral” rating in a report on Thursday. Leerink Partners upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $74.00 to $96.00 in a report on Monday, October 21st. Wells Fargo & Company upped their price target on Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Finally, Maxim Group cut Gilead Sciences from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Twelve analysts have rated the stock with a hold rating, eleven have given a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Gilead Sciences currently has an average rating of “Moderate Buy” and an average target price of $95.41.

Insider Buying and Selling at Gilead Sciences

In related news, insider Johanna Mercier sold 29,357 shares of Gilead Sciences 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 transaction, the insider now directly owns 78,127 shares of the company’s stock, valued at $6,545,480.06. The trade was a 27.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Merdad Parsey sold 25,590 shares of Gilead Sciences stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total value of $2,341,485.00. Following the transaction, the insider now directly owns 99,599 shares in the company, valued at approximately $9,113,308.50. The trade was a 20.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,947 shares of company stock worth $4,968,674. 0.16% of the stock is owned by insiders.

Gilead Sciences Stock Performance

Shares of GILD opened at $90.19 on Friday. The business’s fifty day moving average price is $87.43 and its 200 day moving average price is $76.79. Gilead Sciences, Inc. has a 12-month low of $62.07 and a 12-month high of $98.90. The stock has a market capitalization of $112.40 billion, a PE ratio of 1,002.11, a price-to-earnings-growth ratio of 2.78 and a beta of 0.17. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.26 and a quick ratio of 1.10.

Gilead Sciences (NASDAQ:GILD) last posted 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. The company had revenue of $7.55 billion for the quarter, compared to analysts’ expectations of $7.01 billion. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period last year, the business posted $2.29 earnings per share. Equities research analysts forecast that Gilead Sciences, Inc. will post 4.38 EPS for the current year.

Gilead Sciences Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend is Friday, December 13th. Gilead Sciences’s payout ratio is 3,422.22%.

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.