iA Global Asset Management Inc. Has $14.68 Million Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

iA Global Asset Management Inc. increased its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 14.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 175,067 shares of the biopharmaceutical company’s stock after buying an additional 22,228 shares during the quarter. iA Global Asset Management Inc.’s holdings in Gilead Sciences were worth $14,678,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. EP Wealth Advisors LLC lifted its stake in Gilead Sciences by 13.7% during the 3rd quarter. EP Wealth Advisors LLC now owns 53,951 shares of the biopharmaceutical company’s stock valued at $4,523,000 after acquiring an additional 6,492 shares in the last quarter. Insigneo Advisory Services LLC grew its holdings in shares of Gilead Sciences by 3.0% in the third quarter. Insigneo Advisory Services LLC now owns 9,096 shares of the biopharmaceutical company’s stock valued at $763,000 after acquiring an additional 266 shares in the last quarter. Kovitz Investment Group Partners LLC increased its position in shares of Gilead Sciences by 8.7% during the third quarter. Kovitz Investment Group Partners LLC now owns 97,505 shares of the biopharmaceutical company’s stock valued at $8,175,000 after acquiring an additional 7,801 shares during the last quarter. Voya Financial Advisors Inc. purchased a new position in Gilead Sciences in the third quarter worth $215,000. Finally, Wellington Management Group LLP grew its stake in Gilead Sciences by 50.9% in the 3rd quarter. Wellington Management Group LLP now owns 34,600,676 shares of the biopharmaceutical company’s stock valued at $2,900,921,000 after purchasing an additional 11,665,593 shares during the period. Institutional investors and hedge funds own 83.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on GILD shares. The Goldman Sachs Group increased their target price on shares of Gilead Sciences from $74.00 to $84.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Maxim Group downgraded Gilead Sciences from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Oppenheimer boosted their price target 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. Mizuho increased their target price on Gilead Sciences from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Finally, JPMorgan Chase & Co. raised their target price on Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Twelve research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Gilead Sciences presently has an average rating of “Moderate Buy” and a consensus price target of $95.41.

Gilead Sciences Stock Down 1.3 %

Shares of NASDAQ GILD opened at $92.13 on Friday. The firm has a fifty day simple moving average of $89.02 and a two-hundred day simple moving average of $78.40. The firm has a market capitalization of $114.82 billion, a PE ratio of 1,023.67, a price-to-earnings-growth ratio of 2.84 and a beta of 0.18. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $98.90.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results 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 company had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.01 billion. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. Gilead Sciences’s revenue was up 7.0% on a year-over-year basis. During the same period last year, the company posted $2.29 EPS. Equities analysts expect that Gilead Sciences, Inc. will post 4.37 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend is Friday, December 13th. Gilead Sciences’s dividend payout ratio (DPR) is currently 3,422.22%.

Insider Buying and Selling

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 248,645 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $92.76, for a total value of $23,064,310.20. Following the completion of the transaction, the chief financial officer now owns 138,919 shares of the company’s stock, valued at approximately $12,886,126.44. The trade was a 64.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total transaction of $167,660.00. Following the transaction, the insider now owns 100,189 shares in the company, valued at $8,398,843.87. This represents a 1.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 476,591 shares of company stock worth $43,747,615 in the last three months. Insiders own 0.16% of the company’s stock.

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.