2,520 Shares in Gilead Sciences, Inc. (NASDAQ:GILD) Purchased by Concorde Asset Management LLC

Concorde Asset Management LLC acquired a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,520 shares of the biopharmaceutical company’s stock, valued at approximately $211,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CarsonAllaria Wealth Management Ltd. increased its position in Gilead Sciences by 198.3% during the second quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 238 shares during the last quarter. nVerses Capital LLC purchased a new position in Gilead Sciences during the third quarter worth about $25,000. Valued Wealth Advisors LLC boosted its stake in Gilead Sciences by 101.9% during the third quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 161 shares during the period. Cedar Wealth Management LLC boosted its stake in Gilead Sciences by 51.6% during the second quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 160 shares during the period. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Gilead Sciences during the second quarter worth about $33,000. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total value of $167,660.00. Following the sale, the insider now directly owns 100,189 shares in the company, valued at $8,398,843.87. The trade was a 1.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Johanna Mercier sold 29,357 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were 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 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 position. The disclosure for this sale can be found here. Insiders have sold 56,947 shares of company stock worth $4,968,674 in the last three months. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GILD. Wells Fargo & Company increased their target price on shares of Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. The Goldman Sachs Group raised their price objective on shares of Gilead Sciences from $74.00 to $84.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Truist Financial raised 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. UBS Group raised their price objective on shares of Gilead Sciences from $70.00 to $96.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Sanford C. Bernstein initiated 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 for the company. Twelve research analysts have rated the stock with a hold rating, eleven have issued a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, Gilead Sciences presently has an average rating of “Moderate Buy” and an average target price of $95.41.

Gilead Sciences Stock Performance

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

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, topping the consensus estimate of $1.58 by $0.44. The company 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 business’s revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.29 EPS. On average, sell-side analysts expect that Gilead Sciences, Inc. will post 4.38 EPS for the current year.

Gilead Sciences Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be given a $0.77 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.08 annualized dividend and a dividend yield of 3.42%. Gilead Sciences’s dividend payout ratio is presently 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.