Gilead Sciences, Inc. (NASDAQ:GILD) Position Raised by Principal Financial Group Inc.

Principal Financial Group Inc. grew its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 4.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,451,249 shares of the biopharmaceutical company’s stock after acquiring an additional 59,181 shares during the quarter. Principal Financial Group Inc. owned about 0.12% of Gilead Sciences worth $121,673,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Avior Wealth Management LLC boosted its stake in Gilead Sciences by 1.2% during the 3rd quarter. Avior Wealth Management LLC now owns 9,422 shares of the biopharmaceutical company’s stock valued at $782,000 after purchasing an additional 108 shares during the period. Concord Asset Management LLC VA boosted its position in shares of Gilead Sciences by 3.8% during the third quarter. Concord Asset Management LLC VA now owns 3,056 shares of the biopharmaceutical company’s stock worth $256,000 after buying an additional 111 shares during the period. TFB Advisors LLC grew its holdings in Gilead Sciences by 1.2% in the 3rd quarter. TFB Advisors LLC now owns 9,397 shares of the biopharmaceutical company’s stock worth $788,000 after buying an additional 116 shares in the last quarter. Sumitomo Life Insurance Co. increased its position in Gilead Sciences by 0.7% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 17,822 shares of the biopharmaceutical company’s stock valued at $1,494,000 after acquiring an additional 117 shares during the period. Finally, FDx Advisors Inc. raised its stake in Gilead Sciences by 2.2% during the 3rd quarter. FDx Advisors Inc. now owns 5,365 shares of the biopharmaceutical company’s stock valued at $450,000 after acquiring an additional 117 shares in the last quarter. Institutional investors and hedge funds own 83.67% of the company’s stock.

Insider Activity at Gilead Sciences

In related news, CFO Andrew D. Dickinson sold 248,645 shares of Gilead Sciences stock in a transaction on Friday, November 29th. The stock was sold at an average price of $92.76, for a total transaction of $23,064,310.20. Following the completion of the sale, the chief financial officer now owns 138,919 shares of the company’s stock, valued at approximately $12,886,126.44. This trade represents a 64.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Merdad Parsey sold 164,211 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $91.92, for a total value of $15,094,275.12. Following the completion of the transaction, the insider now directly owns 80,801 shares in the company, valued at approximately $7,427,227.92. The trade was a 67.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 455,734 shares of company stock valued at $42,069,746. Corporate insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Wolfe Research assumed coverage on Gilead Sciences in a research note on Friday, November 15th. They issued an “outperform” rating and a $110.00 price target for the company. Oppenheimer increased their target price on shares of Gilead Sciences from $105.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Citigroup started coverage on shares of Gilead Sciences in a research note on Thursday, November 14th. They issued a “buy” rating and a $125.00 price target for the company. Sanford C. Bernstein began coverage on shares of Gilead Sciences in a research note on Thursday, October 17th. They set an “outperform” rating and a $105.00 price objective on the stock. Finally, Piper Sandler upped their target price on Gilead Sciences from $95.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Twelve research analysts have rated the stock with a hold rating, twelve have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $96.43.

Gilead Sciences Trading Up 1.6 %

NASDAQ GILD opened at $92.57 on Friday. The firm’s 50 day moving average price is $90.64 and its two-hundred day moving average price is $80.42. The stock has a market cap of $115.37 billion, a price-to-earnings ratio of 1,028.56, a PEG ratio of 2.38 and a beta of 0.18. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $98.90. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.10 and a current ratio of 1.26.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.44. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The firm had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.01 billion. During the same period in the previous year, the firm earned $2.29 earnings per share. Gilead Sciences’s quarterly revenue was up 7.0% on a year-over-year basis. Equities analysts anticipate that Gilead Sciences, Inc. will post 4.35 EPS for the current year.

Gilead Sciences Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 3.33%. The ex-dividend date is Friday, December 13th. Gilead Sciences’s dividend 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.