Merdad Parsey Sells 2,000 Shares of Gilead Sciences, Inc. (NASDAQ:GILD) Stock

Gilead Sciences, Inc. (NASDAQ:GILD) insider Merdad Parsey sold 2,000 shares of the firm’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 sale, the insider now directly owns 100,189 shares of the company’s stock, valued at $8,398,843.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Gilead Sciences Price Performance

Shares of NASDAQ:GILD opened at $84.17 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $104.86 billion, a PE ratio of 233.81, a PEG ratio of 2.91 and a beta of 0.18. The firm has a 50 day moving average of $78.91 and a 200-day moving average of $71.85. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $87.86.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.40. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. The firm had revenue of $6.95 billion during the quarter, compared to analysts’ expectations of $6.64 billion. On average, equities research analysts predict that Gilead Sciences, Inc. will post 3.78 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date of this dividend was Friday, September 13th. Gilead Sciences’s dividend payout ratio is presently 855.56%.

Analysts Set New Price Targets

GILD has been the topic of a number of research analyst reports. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a research note on Thursday, August 15th. Piper Sandler reissued an “overweight” rating and issued a $95.00 price objective on shares of Gilead Sciences in a research report on Wednesday, September 11th. Robert W. Baird reaffirmed a “neutral” rating and set a $80.00 target price on shares of Gilead Sciences in a report on Thursday, June 20th. Raymond James raised shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price target on the stock in a report on Monday, July 8th. Finally, BMO Capital Markets boosted their price objective on Gilead Sciences from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Twelve analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $82.06.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in GILD. CarsonAllaria Wealth Management Ltd. grew 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 valued at $25,000 after purchasing an additional 238 shares during the last quarter. Palisade Asset Management LLC bought a new stake in shares of Gilead Sciences during the first quarter worth $29,000. Cedar Wealth Management LLC increased its holdings in shares of Gilead Sciences by 51.6% during the second quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 160 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in shares of Gilead Sciences in the 2nd quarter valued at $33,000. Finally, Financial Connections Group Inc. acquired a new stake in shares of Gilead Sciences during the 2nd quarter valued at $34,000. Institutional investors own 83.67% of the company’s stock.

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.