Exchange Traded Concepts LLC Purchases 236,301 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Exchange Traded Concepts LLC increased its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 2,483.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 245,817 shares of the biopharmaceutical company’s stock after acquiring an additional 236,301 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Gilead Sciences were worth $20,609,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Gilead Sciences by 2.6% in the first quarter. Vanguard Group Inc. now owns 114,732,575 shares of the biopharmaceutical company’s stock worth $8,404,161,000 after acquiring an additional 2,910,147 shares during the period. Capital World Investors lifted its stake in shares of Gilead Sciences by 1.4% in the first quarter. Capital World Investors now owns 84,497,404 shares of the biopharmaceutical company’s stock worth $6,189,435,000 after acquiring an additional 1,133,281 shares during the period. Capital Research Global Investors lifted its stake in shares of Gilead Sciences by 2.7% in the first quarter. Capital Research Global Investors now owns 61,246,366 shares of the biopharmaceutical company’s stock worth $4,486,296,000 after acquiring an additional 1,589,240 shares during the period. Wellington Management Group LLP lifted its stake in shares of Gilead Sciences by 14.4% in the fourth quarter. Wellington Management Group LLP now owns 18,630,134 shares of the biopharmaceutical company’s stock worth $1,509,227,000 after acquiring an additional 2,350,550 shares during the period. Finally, Legal & General Group Plc lifted its stake in shares of Gilead Sciences by 0.8% in the second quarter. Legal & General Group Plc now owns 12,414,268 shares of the biopharmaceutical company’s stock worth $851,743,000 after acquiring an additional 93,068 shares during the period. 83.67% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Johanna Mercier sold 5,490 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total transaction of $406,150.20. Following the completion of the sale, the insider now directly owns 114,979 shares of the company’s stock, valued at $8,506,146.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Johanna Mercier sold 5,490 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total transaction of $406,150.20. Following the completion of the sale, the insider now directly owns 114,979 shares of the company’s stock, valued at $8,506,146.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 100,189 shares of the company’s stock, valued at approximately $8,398,843.87. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,847 shares of company stock valued at $3,033,340 in the last ninety days. 0.16% of the stock is currently owned by insiders.

Analysts Set New Price Targets

GILD has been the topic of a number of recent analyst reports. Raymond James raised Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price objective on the stock in a research note on Monday, July 8th. Truist Financial boosted their price target on Gilead Sciences from $82.00 to $83.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Evercore ISI raised Gilead Sciences to a “strong-buy” rating in a research note on Friday, August 9th. Piper Sandler reissued an “overweight” rating and issued a $95.00 price target on shares of Gilead Sciences in a research note on Wednesday, September 11th. Finally, BMO Capital Markets boosted their price target on Gilead Sciences from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Ten research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Gilead Sciences has a consensus rating of “Moderate Buy” and a consensus target price of $84.83.

Gilead Sciences Trading Up 0.3 %

NASDAQ GILD opened at $84.95 on Friday. The firm has a market capitalization of $105.84 billion, a P/E ratio of 235.97, a PEG ratio of 2.98 and a beta of 0.18. The business has a fifty day simple moving average of $79.87 and a 200 day simple moving average of $72.34. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $87.86. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 1.18.

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

Gilead Sciences Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend was Friday, September 13th. Gilead Sciences’s dividend payout ratio is presently 855.56%.

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.