Geode Capital Management LLC boosted its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 2.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,540,870 shares of the biopharmaceutical company's stock after acquiring an additional 574,421 shares during the quarter. Geode Capital Management LLC owned about 2.21% of Gilead Sciences worth $2,302,119,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. CarsonAllaria Wealth Management Ltd. raised its position in 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 buying an additional 238 shares during the last quarter. nVerses Capital LLC acquired a new stake in Gilead Sciences in the third quarter valued at about $25,000. Valued Wealth Advisors LLC boosted its holdings in Gilead Sciences by 101.9% in the 3rd quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company's stock valued at $27,000 after purchasing an additional 161 shares in the last quarter. Cedar Wealth Management LLC increased its position in Gilead Sciences by 51.6% during the 2nd quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company's stock worth $32,000 after purchasing an additional 160 shares during the period. Finally, Strategic Investment Solutions Inc. IL purchased a new position in shares of Gilead Sciences during the 2nd quarter worth approximately $33,000. 83.67% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Gilead Sciences stock opened at $90.59 on Tuesday. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $98.90. The stock has a market capitalization of $112.90 billion, a price-to-earnings ratio of 1,006.56, a PEG ratio of 2.86 and a beta of 0.18. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24. The business's 50 day simple moving average is $89.33 and its 200-day simple moving average is $78.89.
Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.58 by $0.44. The business had revenue of $7.55 billion during 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 period in the prior year, the company posted $2.29 EPS. Equities research analysts forecast that Gilead Sciences, Inc. will post 4.37 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors 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 dividend on an annualized basis and a dividend yield of 3.40%. Gilead Sciences's dividend payout ratio is presently 3,422.22%.
A number of research analysts recently weighed in on the company. The Goldman Sachs Group upped their price objective on Gilead Sciences from $74.00 to $84.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Mizuho upped their price target on shares of Gilead Sciences from $90.00 to $100.00 and gave the stock an "outperform" rating in a research note on Thursday, November 21st. Truist Financial raised their price objective 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. Needham & Company LLC reaffirmed a "hold" rating on shares of Gilead Sciences in a report on Thursday, November 7th. Finally, Royal Bank of Canada raised their price target on Gilead Sciences from $81.00 to $84.00 and gave the stock a "sector perform" rating in a research report on Monday, November 18th. Twelve research 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 stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $95.41.
Read Our Latest Report on GILD
In related news, insider Johanna Mercier sold 29,357 shares of the business'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 sale, the insider now directly owns 78,127 shares in the company, valued at $6,545,480.06. The trade was a 27.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 sale, the chief financial officer now owns 138,919 shares of the company's stock, valued at $12,886,126.44. The trade was a 64.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 476,591 shares of company stock valued at $43,747,615. 0.29% of the stock is owned by corporate insiders.
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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