Tri Ri Asset Management Corp Takes Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Tri Ri Asset Management Corp purchased a new stake in Gilead Sciences, Inc. (NASDAQ:GILD) during the third quarter, HoldingsChannel.com reports. The fund purchased 40,314 shares of the biopharmaceutical company’s stock, valued at approximately $3,380,000. Gilead Sciences makes up approximately 1.7% of Tri Ri Asset Management Corp’s holdings, making the stock its 23rd largest holding.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Synovus Financial Corp grew its holdings in shares of Gilead Sciences by 99.6% during the third quarter. Synovus Financial Corp now owns 37,265 shares of the biopharmaceutical company’s stock worth $3,124,000 after purchasing an additional 18,592 shares during the last quarter. Tidal Investments LLC grew its holdings in shares of Gilead Sciences by 9.9% during the third quarter. Tidal Investments LLC now owns 111,464 shares of the biopharmaceutical company’s stock worth $9,345,000 after buying an additional 10,078 shares during the last quarter. Optimist Retirement Group LLC lifted its position in Gilead Sciences by 5.4% in the third quarter. Optimist Retirement Group LLC now owns 27,234 shares of the biopharmaceutical company’s stock valued at $2,283,000 after purchasing an additional 1,391 shares during the period. Blankinship & Foster LLC acquired a new stake in Gilead Sciences in the third quarter valued at about $1,006,000. Finally, Wilmington Savings Fund Society FSB lifted its position in Gilead Sciences by 278.4% in the third quarter. Wilmington Savings Fund Society FSB now owns 18,660 shares of the biopharmaceutical company’s stock valued at $1,564,000 after purchasing an additional 13,729 shares during the period. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Gilead Sciences Price Performance

Gilead Sciences stock opened at $92.38 on Friday. The stock has a market capitalization of $115.13 billion, a PE ratio of 1,026.44, a price-to-earnings-growth ratio of 2.38 and a beta of 0.18. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $98.90. 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 company has a 50 day moving average of $89.82 and a 200-day moving average of $79.26.

Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, topping the consensus estimate of $1.58 by $0.44. The business 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 was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.29 earnings per share. On average, equities research analysts anticipate that Gilead Sciences, Inc. will post 4.35 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

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 given a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend is Friday, December 13th. Gilead Sciences’s payout ratio is presently 3,422.22%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GILD. Truist Financial lifted their price target on shares of Gilead Sciences from $83.00 to $97.00 and gave the company a “hold” rating in a research report on Friday, November 8th. Citigroup assumed coverage on Gilead Sciences in a report on Thursday, November 14th. They issued a “buy” rating and a $125.00 price target for the company. JPMorgan Chase & Co. upped their price objective on Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Oppenheimer upped their price objective on Gilead Sciences from $105.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, The Goldman Sachs Group increased their price target on Gilead Sciences from $74.00 to $84.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Twelve equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $96.43.

Insider Buying and Selling

In other Gilead Sciences news, insider Merdad Parsey sold 164,211 shares of the firm’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 in the company, valued at approximately $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 can be accessed through this link. Also, CFO Andrew D. Dickinson sold 248,645 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $92.76, for a total transaction of $23,064,310.20. Following the transaction, the chief financial officer now owns 138,919 shares of the company’s stock, valued at approximately $12,886,126.44. The trade was a 64.16 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 447,234 shares of company stock valued at $41,288,086. 0.16% of the stock is owned by company insiders.

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.