Stone Point Wealth LLC Boosts Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Stone Point Wealth LLC boosted its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 1.7% during the third quarter, Holdings Channel reports. The firm owned 28,705 shares of the biopharmaceutical company’s stock after buying an additional 487 shares during the quarter. Stone Point Wealth LLC’s holdings in Gilead Sciences were worth $2,407,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of GILD. CarsonAllaria Wealth Management Ltd. boosted 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 in the last quarter. nVerses Capital LLC purchased a new stake in Gilead Sciences during the third quarter worth $25,000. Valued Wealth Advisors LLC boosted its position 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 purchasing an additional 161 shares in the last quarter. Cedar Wealth Management LLC boosted its position 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 purchasing an additional 160 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in Gilead Sciences during the second quarter worth $33,000. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on GILD. Leerink Partners upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $74.00 to $96.00 in a research report on Monday, October 21st. The Goldman Sachs Group boosted their price target on Gilead Sciences from $74.00 to $84.00 and gave the stock a “neutral” rating in a report on Thursday. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a report on Thursday. Royal Bank of Canada boosted their price target on Gilead Sciences from $75.00 to $81.00 and gave the stock a “sector perform” rating in a report on Thursday. Finally, Piper Sandler boosted their price target on Gilead Sciences from $95.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday. Twelve research analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $90.05.

Insiders Place Their Bets

In other news, insider Johanna Mercier sold 29,357 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $83.78, for a total value of $2,459,529.46. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Johanna Mercier sold 29,357 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $83.78, for a total value of $2,459,529.46. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total value of $167,660.00. Following the completion of the sale, the insider now directly owns 100,189 shares of the company’s stock, valued at $8,398,843.87. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 62,437 shares of company stock worth $5,374,825 over the last three months. 0.29% of the stock is owned by insiders.

Gilead Sciences Stock Performance

Shares of NASDAQ:GILD opened at $97.66 on Friday. The firm has a market capitalization of $121.59 billion, a PE ratio of 119.39, a P/E/G ratio of 3.13 and a beta of 0.17. 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 business has a 50-day moving average of $84.58 and a two-hundred day moving average of $74.67. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $98.32.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly 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 during the quarter, compared to analyst estimates of $7.01 billion. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. The firm’s revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.29 earnings per share. As a group, research analysts forecast that Gilead Sciences, Inc. will post 3.75 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.77 per share. The ex-dividend date is Friday, December 13th. This represents a $3.08 annualized dividend and a yield of 3.15%. Gilead Sciences’s dividend payout ratio is presently 375.61%.

About Gilead Sciences

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.