28,498 Shares in Gilead Sciences, Inc. (NASDAQ:GILD) Bought by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. bought a new stake in Gilead Sciences, Inc. (NASDAQ:GILD) during the third quarter, Holdings Channel reports. The institutional investor bought 28,498 shares of the biopharmaceutical company’s stock, valued at approximately $2,389,000.

Several other hedge funds also recently bought and sold shares of GILD. CarsonAllaria Wealth Management Ltd. grew its stake in shares of Gilead Sciences by 198.3% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 238 shares in the last quarter. nVerses Capital LLC bought a new position in Gilead Sciences during the third quarter valued at approximately $25,000. Valued Wealth Advisors LLC grew its position in Gilead Sciences by 101.9% in the third quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 161 shares in the last quarter. Cedar Wealth Management LLC grew its position in Gilead Sciences by 51.6% in 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 in the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Gilead Sciences during the 2nd quarter worth $33,000. 83.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GILD. Wolfe Research began coverage on shares of Gilead Sciences in a report on Friday, November 15th. They issued an “outperform” rating and a $110.00 price objective for the company. Royal Bank of Canada upped their price target on Gilead Sciences from $81.00 to $84.00 and gave the stock a “sector perform” rating in a research note on Monday, November 18th. Leerink Partnrs raised Gilead Sciences from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Leerink Partners upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $74.00 to $96.00 in a report on Monday, October 21st. Finally, Evercore ISI upgraded Gilead Sciences to a “strong-buy” rating in a report on Friday, August 9th. Twelve investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, Gilead Sciences presently has an average rating of “Moderate Buy” and an average target price of $95.41.

Insider Activity

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total transaction of $167,660.00. Following the completion of the transaction, the insider now directly owns 100,189 shares of the company’s stock, valued at approximately $8,398,843.87. This trade represents a 1.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Johanna Mercier sold 29,357 shares of the business’s stock in a transaction on 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 completion of the sale, the insider now owns 78,127 shares in the company, valued at $6,545,480.06. This represents a 27.31 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 227,946 shares of company stock worth $20,683,305. Corporate insiders own 0.16% of the company’s stock.

Gilead Sciences Trading Up 0.2 %

Shares of GILD opened at $92.58 on Friday. The stock’s 50-day moving average price is $88.26 and its 200 day moving average price is $77.76. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $115.38 billion, a price-to-earnings ratio of 1,028.67, a P/E/G ratio of 2.87 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.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.44. The business had revenue of $7.55 billion for the quarter, compared to analysts’ expectations of $7.01 billion. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. Gilead Sciences’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.29 earnings per share. As a group, research analysts predict that Gilead Sciences, Inc. will post 4.37 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date of this dividend is Friday, December 13th. Gilead Sciences’s payout ratio is 3,422.22%.

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.