Gilead Sciences, Inc. (NASDAQ:GILD) Shares Purchased by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC boosted its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 1.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 115,575 shares of the biopharmaceutical company’s stock after acquiring an additional 1,252 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Gilead Sciences were worth $9,690,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. CarsonAllaria Wealth Management Ltd. increased its position in shares of Gilead Sciences by 198.3% during the 2nd 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 acquired a new stake in shares of Gilead Sciences during the third quarter valued at about $25,000. Palisade Asset Management LLC purchased a new stake in shares of Gilead Sciences in the 1st quarter valued at approximately $29,000. Cedar Wealth Management LLC raised its stake in shares of 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 acquiring an additional 160 shares during the period. Finally, Strategic Investment Solutions Inc. IL purchased a new position in shares of Gilead Sciences during the 2nd quarter worth approximately $33,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Insider Transactions at Gilead Sciences

In related news, insider Johanna Mercier sold 29,357 shares of the company’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 transaction of $2,459,529.46. Following the transaction, the insider now owns 78,127 shares of the company’s stock, valued at approximately $6,545,480.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Johanna Mercier sold 29,357 shares of the 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 transaction, the insider now directly owns 78,127 shares in the company, valued at $6,545,480.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 sale, the insider now directly owns 100,189 shares in the company, valued at $8,398,843.87. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,847 shares of company stock worth $3,033,340 over the last ninety days. 0.16% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

GILD has been the topic of a number of research reports. Royal Bank of Canada raised their price target on Gilead Sciences from $74.00 to $75.00 and gave the stock a “sector perform” rating in a research report on Friday, October 4th. Piper Sandler reissued an “overweight” rating and set a $95.00 price target on shares of Gilead Sciences in a research report on Wednesday, September 11th. Cantor Fitzgerald restated a “neutral” rating and issued a $70.00 price objective on shares of Gilead Sciences in a report on Monday, September 16th. Leerink Partners upgraded shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $74.00 to $96.00 in a report on Monday, October 21st. Finally, BMO Capital Markets upped their price objective on Gilead Sciences from $85.00 to $94.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Ten investment analysts have rated the stock with a hold rating, eleven have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, Gilead Sciences currently has a consensus rating of “Moderate Buy” and an average target price of $86.85.

Gilead Sciences Price Performance

NASDAQ:GILD traded up $0.22 during mid-day trading on Friday, hitting $89.00. 5,734,995 shares of the company’s stock traded hands, compared to its average volume of 7,043,532. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $89.74. The company has a market cap of $110.88 billion, a PE ratio of 247.22, a price-to-earnings-growth ratio of 2.98 and a beta of 0.18. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.95 and a current ratio of 1.14. The firm’s 50 day simple moving average is $82.46 and its 200 day simple moving average is $73.42.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.40. The firm had revenue of $6.95 billion for the quarter, compared to analyst estimates of $6.64 billion. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. Sell-side analysts expect that Gilead Sciences, Inc. will post 3.78 EPS for the current year.

Gilead Sciences Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a $0.77 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.08 dividend on an annualized basis and a yield of 3.46%. Gilead Sciences’s dividend payout ratio (DPR) is 855.56%.

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.