Meeder Asset Management Inc. Purchases 42,444 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Meeder Asset Management Inc. raised its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 28.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 190,035 shares of the biopharmaceutical company’s stock after purchasing an additional 42,444 shares during the period. Gilead Sciences accounts for 1.1% of Meeder Asset Management Inc.’s investment portfolio, making the stock its 23rd biggest position. Meeder Asset Management Inc.’s holdings in Gilead Sciences were worth $15,933,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in GILD. Bessemer Group Inc. raised its position in shares of Gilead Sciences by 23.7% during the 1st quarter. Bessemer Group Inc. now owns 121,072 shares of the biopharmaceutical company’s stock valued at $8,868,000 after buying an additional 23,213 shares in the last quarter. Lake Street Advisors Group LLC raised its position in shares of Gilead Sciences by 32.8% during the 1st quarter. Lake Street Advisors Group LLC now owns 18,044 shares of the biopharmaceutical company’s stock valued at $1,322,000 after buying an additional 4,461 shares in the last quarter. Natixis raised its position in shares of Gilead Sciences by 40.5% during the 1st quarter. Natixis now owns 152,226 shares of the biopharmaceutical company’s stock valued at $11,151,000 after buying an additional 43,916 shares in the last quarter. MQS Management LLC purchased a new stake in shares of Gilead Sciences during the 1st quarter valued at $250,000. Finally, Crewe Advisors LLC purchased a new stake in shares of Gilead Sciences during the 1st quarter valued at $141,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on GILD shares. Robert W. Baird lifted their target price on shares of Gilead Sciences from $80.00 to $95.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Oppenheimer lifted their target price on shares of Gilead Sciences from $95.00 to $105.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Sanford C. Bernstein started coverage on shares of Gilead Sciences in a research report on Thursday, October 17th. They issued an “outperform” rating and a $105.00 target price on the stock. Truist Financial lifted their target price on shares of Gilead Sciences from $83.00 to $97.00 and gave the stock a “hold” rating in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Eleven investment 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $94.00.

Insider Activity

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the company’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 transaction 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 approximately $8,398,843.87. This represents a 1.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 sale, the insider now directly owns 78,127 shares of the company’s stock, valued at approximately $6,545,480.06. This represents 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 valued at $4,968,674 over the last three months. Insiders own 0.29% of the company’s stock.

Gilead Sciences Trading Up 0.1 %

NASDAQ:GILD opened at $88.46 on Tuesday. Gilead Sciences, Inc. has a one year low of $62.07 and a one 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 company’s 50-day simple moving average is $86.87 and its 200 day simple moving average is $76.27. The firm has a market capitalization of $110.25 billion, a P/E ratio of 982.89, a PEG ratio of 2.74 and a beta of 0.17.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $7.01 billion. During the same quarter in the previous year, the firm posted $2.29 earnings per share. Gilead Sciences’s quarterly revenue was up 7.0% on a year-over-year basis. As a group, analysts forecast that Gilead Sciences, Inc. will post 4.38 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.08 annualized dividend and a dividend yield of 3.48%. Gilead Sciences’s payout ratio is 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.