Procyon Advisors LLC Increases Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Procyon Advisors LLC grew its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 9.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,244 shares of the biopharmaceutical company’s stock after acquiring an additional 3,214 shares during the period. Procyon Advisors LLC’s holdings in Gilead Sciences were worth $3,039,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in GILD. CarsonAllaria Wealth Management Ltd. increased 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 purchasing an additional 238 shares during the period. Palisade Asset Management LLC purchased a new stake in shares of Gilead Sciences in the first quarter valued at approximately $29,000. Cedar Wealth Management LLC grew its holdings in 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 acquiring an additional 160 shares during the period. Strategic Investment Solutions Inc. IL purchased a new position in Gilead Sciences in the second quarter worth $33,000. Finally, Financial Connections Group Inc. purchased a new stake in shares of Gilead Sciences during the 2nd quarter worth $34,000. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GILD has been the topic of several recent analyst reports. Cantor Fitzgerald restated a “neutral” rating and set a $70.00 target price on shares of Gilead Sciences in a research report on Monday, September 16th. Raymond James upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 target price on the stock in a research report on Monday, July 8th. Royal Bank of Canada lifted their price target on Gilead Sciences from $74.00 to $75.00 and gave the company a “sector perform” rating in a report on Friday, October 4th. Wells Fargo & Company raised shares of Gilead Sciences from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $78.00 to $100.00 in a research report on Monday, October 7th. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $80.00 price target on shares of Gilead Sciences in a research report on Thursday, June 20th. Ten equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $84.83.

Insiders Place Their Bets

In other Gilead Sciences news, insider Johanna Mercier sold 5,490 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total value of $406,150.20. Following the completion of the transaction, the insider now directly owns 114,979 shares of the company’s stock, valued at approximately $8,506,146.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total value of $167,660.00. Following the transaction, the insider now directly owns 100,189 shares of the company’s stock, valued at $8,398,843.87. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Johanna Mercier sold 5,490 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total transaction of $406,150.20. Following the completion of the transaction, the insider now owns 114,979 shares in the company, valued at approximately $8,506,146.42. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,847 shares of company stock worth $3,033,340. Insiders own 0.16% of the company’s stock.

Gilead Sciences Price Performance

Shares of NASDAQ:GILD opened at $84.70 on Monday. The business’s 50 day moving average is $79.87 and its 200-day moving average is $72.33. 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 firm has a market capitalization of $105.52 billion, a PE ratio of 235.97, a PEG ratio of 2.98 and a beta of 0.18. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $87.86.

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

Gilead Sciences Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 3.64%. The ex-dividend date of this dividend was Friday, September 13th. Gilead Sciences’s payout ratio is 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.