Meeder Asset Management Inc. Purchases 42,444 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Meeder Asset Management Inc. grew its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 28.8% in the third quarter, HoldingsChannel.com reports. The firm owned 190,035 shares of the biopharmaceutical company’s stock after acquiring an additional 42,444 shares during the period. Gilead Sciences accounts for approximately 1.1% of Meeder Asset Management Inc.’s investment portfolio, making the stock its 23rd biggest holding. Meeder Asset Management Inc.’s holdings in Gilead Sciences were worth $15,933,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Capital World Investors boosted its position in shares of Gilead Sciences by 1.4% during 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 last quarter. Capital Research Global Investors boosted its position in shares of Gilead Sciences by 2.7% during 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 last quarter. Legal & General Group Plc boosted its position in shares of Gilead Sciences by 0.8% during 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 last quarter. Dimensional Fund Advisors LP boosted its position in shares of Gilead Sciences by 2.6% during the second quarter. Dimensional Fund Advisors LP now owns 10,412,413 shares of the biopharmaceutical company’s stock worth $714,421,000 after acquiring an additional 268,208 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its position in shares of Gilead Sciences by 24.7% during the second quarter. Pacer Advisors Inc. now owns 7,889,663 shares of the biopharmaceutical company’s stock worth $541,310,000 after acquiring an additional 1,564,792 shares during the last quarter. 83.67% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Gilead Sciences news, insider Merdad Parsey sold 25,590 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the transaction, the insider now owns 99,599 shares of the company’s stock, valued at approximately $9,113,308.50. This trade represents a 20.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Johanna Mercier sold 29,357 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the transaction, the insider now directly owns 78,127 shares in the company, valued at $6,545,480.06. This trade represents a 27.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,947 shares of company stock valued at $4,968,674 in the last 90 days. Company insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GILD. Evercore ISI upgraded shares of Gilead Sciences to a “strong-buy” rating in a research report on Friday, August 9th. Royal Bank of Canada upped their target price on shares of Gilead Sciences from $81.00 to $84.00 and gave the stock a “sector perform” rating in a research report on Monday. Sanford C. Bernstein started coverage on shares of Gilead Sciences in a research report on Thursday, October 17th. They set an “outperform” rating and a $105.00 target price for the company. Piper Sandler increased their price objective on shares of Gilead Sciences from $95.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Finally, Oppenheimer increased their price objective on shares of Gilead Sciences from $95.00 to $105.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Eleven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $94.00.

Gilead Sciences Trading Up 0.1 %

GILD stock opened at $88.46 on Tuesday. The company has a market capitalization of $110.25 billion, a PE ratio of 982.89, a P/E/G ratio of 2.74 and a beta of 0.17. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $98.90. The firm’s 50-day moving average is $86.87 and its 200 day moving average is $76.27. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.26 and a quick ratio of 1.10.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly 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 company had revenue of $7.55 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the firm posted $2.29 EPS. On average, research analysts anticipate that Gilead Sciences, Inc. will post 4.38 EPS for the current year.

Gilead Sciences Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be paid a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend is Friday, December 13th. Gilead Sciences’s dividend payout ratio is presently 3,422.22%.

Gilead Sciences Company 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.