Providence Wealth Advisors LLC grew its stake in Gilead Sciences, Inc. (NASDAQ:GILD – Free Report) by 3.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,522 shares of the biopharmaceutical company’s stock after buying an additional 425 shares during the period. Providence Wealth Advisors LLC’s holdings in Gilead Sciences were worth $1,276,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Manning & Napier Advisors LLC acquired a new position in shares of Gilead Sciences during the second quarter worth approximately $25,328,000. Legal & General Group Plc raised its stake in Gilead Sciences by 0.8% during the 2nd quarter. Legal & General Group Plc now owns 12,414,268 shares of the biopharmaceutical company’s stock valued at $851,743,000 after purchasing an additional 93,068 shares during the last quarter. IRON Financial LLC bought a new stake in Gilead Sciences in the 3rd quarter valued at $830,000. Wealth Enhancement Advisory Services LLC grew its position in Gilead Sciences by 13.1% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 286,116 shares of the biopharmaceutical company’s stock worth $19,630,000 after purchasing an additional 33,162 shares during the last quarter. Finally, Cetera Investment Advisers increased its holdings in shares of Gilead Sciences by 127.6% during the 1st quarter. Cetera Investment Advisers now owns 213,901 shares of the biopharmaceutical company’s stock worth $15,668,000 after purchasing an additional 119,909 shares during the period. Institutional investors and hedge funds own 83.67% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on GILD shares. UBS Group lifted their target price on Gilead Sciences from $70.00 to $96.00 and gave the stock a “neutral” rating in a research report on Thursday, November 21st. Piper Sandler boosted their price objective on Gilead Sciences from $95.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Citigroup initiated coverage on Gilead Sciences in a research report on Thursday, November 14th. They issued a “buy” rating and a $125.00 target price for the company. Sanford C. Bernstein initiated coverage on shares of Gilead Sciences in a report on Thursday, October 17th. They issued an “outperform” rating and a $105.00 price target on the stock. Finally, Wells Fargo & Company lifted their target price on shares of Gilead Sciences from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Twelve investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Gilead Sciences currently has an average rating of “Moderate Buy” and a consensus price target of $95.41.
Gilead Sciences Stock Up 1.2 %
Shares of NASDAQ:GILD opened at $92.41 on Friday. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $98.90. The company’s 50-day moving average price is $88.08 and its two-hundred day moving average price is $77.52. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 1.24. The firm has a market cap of $115.17 billion, a P/E ratio of 1,026.78, a P/E/G ratio of 2.87 and a beta of 0.17.
Gilead Sciences (NASDAQ:GILD – Get Free Report) last released its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.44. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The company had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.01 billion. During the same period in the prior year, the company posted $2.29 EPS. The company’s revenue was up 7.0% compared to the same quarter last year. As a group, research analysts forecast that Gilead Sciences, Inc. will post 4.37 EPS for the current fiscal year.
Gilead Sciences Dividend Announcement
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 given a dividend of $0.77 per share. The ex-dividend date is Friday, December 13th. This represents a $3.08 dividend on an annualized basis and a yield of 3.33%. Gilead Sciences’s payout ratio is presently 3,422.22%.
Insider Buying and Selling at Gilead Sciences
In other Gilead Sciences news, insider Merdad Parsey sold 25,590 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the transaction, the insider now directly owns 99,599 shares in the company, valued at approximately $9,113,308.50. This represents a 20.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey Bluestone sold 6,788 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $91.39, for a total transaction of $620,355.32. Following the transaction, the director now owns 8,920 shares in the company, valued at approximately $815,198.80. The trade was a 43.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 63,735 shares of company stock worth $5,589,030. Company insiders own 0.16% of the company’s stock.
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.
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