Asset Management Group Inc. Takes $208,000 Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Asset Management Group Inc. acquired a new stake in Gilead Sciences, Inc. (NASDAQ:GILD) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,484 shares of the biopharmaceutical company’s stock, valued at approximately $208,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. nVerses Capital LLC bought a new position in Gilead Sciences in the third quarter valued at approximately $25,000. Valued Wealth Advisors LLC raised its holdings in Gilead Sciences by 101.9% in 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 during the period. CarsonAllaria Wealth Management Ltd. raised its holdings in Gilead Sciences by 198.3% in 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 period. Strategic Investment Solutions Inc. IL acquired a new stake in Gilead Sciences in the second quarter worth $33,000. Finally, Cedar Wealth Management LLC raised its holdings in Gilead Sciences by 51.6% in 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 during the period. 83.67% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GILD. Leerink Partnrs upgraded shares of Gilead Sciences from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Robert W. Baird raised their price objective on shares of Gilead Sciences from $80.00 to $95.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Leerink Partners upgraded shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $74.00 to $96.00 in a report on Monday, October 21st. Daiwa America upgraded shares of Gilead Sciences to a “hold” rating in a report on Monday. Finally, Mizuho raised their price objective on shares of Gilead Sciences from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday. Twelve equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $95.41.

Gilead Sciences Stock Performance

Shares of GILD stock opened at $89.84 on Friday. The company has a market capitalization of $111.96 billion, a price-to-earnings ratio of 998.22, a PEG ratio of 2.72 and a beta of 0.17. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.10 and a current ratio of 1.26. The company has a 50-day simple moving average of $87.28 and a 200 day simple moving average of $76.61. Gilead Sciences, Inc. has a 52 week low of $62.07 and a 52 week high of $98.90.

Gilead Sciences (NASDAQ:GILD) last announced 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. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The business had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.01 billion. During the same quarter in the previous year, the firm posted $2.29 EPS. Gilead Sciences’s revenue was up 7.0% compared to the same quarter last year. On average, sell-side analysts predict that Gilead Sciences, Inc. will post 4.38 earnings per share for the current year.

Gilead Sciences Announces Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 3.43%. The ex-dividend date of this dividend is Friday, December 13th. Gilead Sciences’s dividend payout ratio (DPR) is 3,422.22%.

Insiders Place Their Bets

In other news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total value of $167,660.00. Following the completion of the transaction, the insider now directly owns 100,189 shares in the company, valued at approximately $8,398,843.87. The trade was a 1.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Johanna Mercier sold 29,357 shares of the business’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 completion of the transaction, the insider now 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 disclosure for this sale can be found here. Insiders sold 56,947 shares of company stock worth $4,968,674 in the last quarter. 0.16% of the stock is currently owned by corporate insiders.

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.