Brooklyn Investment Group Purchases New Shares in Gilead Sciences, Inc. (NASDAQ:GILD)

Brooklyn Investment Group purchased a new stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) in the third quarter, Holdings Channel.com reports. The fund purchased 5,291 shares of the biopharmaceutical company’s stock, valued at approximately $444,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. FMR LLC boosted its position in Gilead Sciences by 79.4% in the 3rd quarter. FMR LLC now owns 33,162,319 shares of the biopharmaceutical company’s stock valued at $2,780,329,000 after buying an additional 14,680,161 shares during the last quarter. Swedbank AB bought a new position in shares of Gilead Sciences in the 1st quarter worth $134,489,000. International Assets Investment Management LLC boosted its position in shares of Gilead Sciences by 8,238.4% in the 3rd quarter. International Assets Investment Management LLC now owns 1,642,504 shares of the biopharmaceutical company’s stock worth $137,708,000 after purchasing an additional 1,622,806 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of Gilead Sciences by 24.7% in the 2nd quarter. Pacer Advisors Inc. now owns 7,889,663 shares of the biopharmaceutical company’s stock worth $541,310,000 after purchasing an additional 1,564,792 shares during the last quarter. Finally, Deerfield Management Company L.P. Series C bought a new position in shares of Gilead Sciences in the 2nd quarter worth $102,298,000. 83.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GILD has been the topic of several recent research reports. Leerink Partners upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $74.00 to $96.00 in a research report on Monday, October 21st. The Goldman Sachs Group lifted their target price on Gilead Sciences from $74.00 to $84.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Cantor Fitzgerald lifted their target price on Gilead Sciences from $70.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. lifted their target price on Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a report on Thursday, November 7th. Twelve equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $95.41.

Insider Buying and Selling at Gilead Sciences

In other news, insider Johanna Mercier sold 29,357 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $167,660.00. Following the completion of the transaction, the insider now directly owns 100,189 shares in the company, valued at $8,398,843.87. The trade was a 1.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,947 shares of company stock worth $4,968,674 over the last 90 days. Company insiders own 0.29% of the company’s stock.

Gilead Sciences Price Performance

NASDAQ:GILD opened at $91.35 on Wednesday. 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 stock’s 50-day simple moving average is $87.74 and its 200 day simple moving average is $77.31. The company has a market cap of $113.85 billion, a P/E ratio of 1,015.00, a P/E/G ratio of 2.81 and a beta of 0.17. Gilead Sciences, Inc. has a 52-week low of $62.07 and a 52-week high of $98.90.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.44. The firm had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.01 billion. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.29 earnings per share. As a group, sell-side analysts forecast that Gilead Sciences, Inc. will post 4.37 EPS for the current fiscal 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. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.08 annualized dividend and a yield of 3.37%. Gilead Sciences’s dividend payout ratio is 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.