Gilead Sciences, Inc. (NASDAQ:GILD) Stake Increased by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. raised its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 13.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,280 shares of the biopharmaceutical company’s stock after acquiring an additional 733 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Gilead Sciences were worth $527,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. CarsonAllaria Wealth Management Ltd. raised 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 valued at $25,000 after acquiring an additional 238 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of Gilead Sciences during the third quarter worth $25,000. Valued Wealth Advisors LLC lifted its position in shares of Gilead Sciences by 101.9% in the 3rd 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 last quarter. Cedar Wealth Management LLC boosted its holdings 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 buying an additional 160 shares during the period. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of Gilead Sciences during the 2nd quarter valued at about $33,000. 83.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GILD has been the subject of a number of research reports. Wells Fargo & Company lifted their target price on Gilead Sciences from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Evercore ISI upgraded Gilead Sciences to a “strong-buy” rating in a research report on Friday, August 9th. BMO Capital Markets increased their target price on Gilead Sciences from $94.00 to $102.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Daiwa America raised shares of Gilead Sciences to a “hold” rating in a report on Monday, November 18th. Finally, Mizuho increased 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 investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $95.41.

Insider Activity

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 value of $2,459,529.46. Following the completion of the sale, the insider now owns 78,127 shares in the company, valued at approximately $6,545,480.06. This represents a 27.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction, the insider now directly owns 100,189 shares of the company’s stock, valued at $8,398,843.87. This represents a 1.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 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 Stock Performance

NASDAQ:GILD opened at $90.19 on Monday. The company has a 50-day moving average of $87.43 and a 200-day moving average of $76.95. 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 2.80 and a beta of 0.17. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $98.90.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.44. The firm had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.01 billion. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the firm posted $2.29 earnings per share. Analysts forecast that Gilead Sciences, Inc. will post 4.37 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date is Friday, December 13th. Gilead Sciences’s dividend payout ratio (DPR) 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.