Merdad Parsey Sells 164,211 Shares of Gilead Sciences, Inc. (NASDAQ:GILD) Stock

Gilead Sciences, Inc. (NASDAQ:GILD) insider Merdad Parsey sold 164,211 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $91.92, for a total transaction of $15,094,275.12. Following the completion of the transaction, the insider now owns 80,801 shares of the company’s stock, valued at $7,427,227.92. This trade represents a 67.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Merdad Parsey also recently made the following trade(s):

• On Wednesday, November 6th, Merdad Parsey sold 25,590 shares of Gilead Sciences stock. The shares were sold at an average price of $91.50, for a total value of $2,341,485.00.
• On Tuesday, October 1st, Merdad Parsey sold 2,000 shares of Gilead Sciences stock. The stock was sold at an average price of $83.83, for a total transaction of $167,660.00.

Gilead Sciences Stock Up 0.2 %

Shares of Gilead Sciences stock traded up $0.17 during trading on Friday, hitting $92.58. The company’s stock had a trading volume of 3,850,965 shares, compared to its average volume of 7,064,693. Gilead Sciences, Inc. has a 52 week low of $62.07 and a 52 week high of $98.90. 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 fifty day simple moving average of $88.26 and a two-hundred day simple moving average of $77.69. The company has a market capitalization of $115.38 billion, a PE ratio of 1,028.67, a P/E/G ratio of 2.87 and a beta of 0.17.

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

Gilead Sciences Announces Dividend

The firm also recently announced 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 of this dividend is Friday, December 13th. This represents a $3.08 annualized dividend and a yield of 3.33%. Gilead Sciences’s dividend payout ratio is 3,422.22%.

Institutional Trading of Gilead Sciences

Large investors have recently modified their holdings of the company. nVerses Capital LLC bought a new position in shares of Gilead Sciences in the third quarter worth approximately $25,000. Valued Wealth Advisors LLC increased its stake in 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 acquiring an additional 161 shares during the last quarter. CarsonAllaria Wealth Management Ltd. raised its holdings 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 worth $25,000 after acquiring an additional 238 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in shares of Gilead Sciences during the 2nd quarter valued at approximately $33,000. Finally, Cedar Wealth Management LLC boosted its position in shares of Gilead Sciences by 51.6% during the 2nd quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 160 shares during the last quarter. Institutional investors own 83.67% of the company’s stock.

Wall Street Analysts Forecast Growth

GILD has been the subject of several recent research reports. Wolfe Research started coverage on Gilead Sciences in a research report on Friday, November 15th. They set an “outperform” rating and a $110.00 price target for the company. BMO Capital Markets boosted their target price on shares of Gilead Sciences from $94.00 to $102.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. UBS Group lifted their price objective on shares of Gilead Sciences from $70.00 to $96.00 and gave the company a “neutral” rating in a research report on Thursday, November 21st. Cantor Fitzgerald upped their target price on shares of Gilead Sciences from $70.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Truist Financial raised their target price on shares of Gilead Sciences from $83.00 to $97.00 and gave the company a “hold” rating in a research note on Friday, November 8th. Twelve investment analysts have rated the stock with a hold rating, eleven have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, Gilead Sciences presently has an average rating of “Moderate Buy” and a consensus target price of $95.41.

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.