Truvestments Capital LLC Makes New Investment in Gilead Sciences, Inc. (NASDAQ:GILD)

Truvestments Capital LLC bought a new stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,499 shares of the biopharmaceutical company’s stock, valued at approximately $126,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CarsonAllaria Wealth Management Ltd. raised its stake in Gilead Sciences by 198.3% during the second 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 during the last quarter. nVerses Capital LLC purchased a new position in shares of Gilead Sciences in the 3rd quarter worth about $25,000. Valued Wealth Advisors LLC boosted its stake in Gilead Sciences by 101.9% in the 3rd quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 161 shares in the last quarter. Cedar Wealth Management LLC grew its position in Gilead Sciences by 51.6% during the 2nd quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 160 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new stake in Gilead Sciences during the 2nd quarter valued at about $33,000. 83.67% of the stock is owned by hedge funds and other institutional investors.

Gilead Sciences Stock Up 1.0 %

Shares of GILD opened at $91.35 on Wednesday. The business’s 50 day moving average is $87.74 and its 200 day moving average is $77.31. 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. The company has a market capitalization of $113.85 billion, a PE ratio of 1,015.00, a price-to-earnings-growth ratio of 2.80 and a beta of 0.17.

Gilead Sciences (NASDAQ:GILD) last released its 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. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The firm had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.01 billion. During the same quarter in the previous year, the firm earned $2.29 earnings per share. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. Research analysts expect that Gilead Sciences, Inc. will post 4.37 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be given a dividend of $0.77 per share. The ex-dividend date is Friday, December 13th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.37%. Gilead Sciences’s payout ratio is 3,422.22%.

Insider Transactions at Gilead Sciences

In other Gilead Sciences news, insider Johanna Mercier sold 29,357 shares of Gilead Sciences stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $83.78, for a total value of $2,459,529.46. Following the sale, the insider now owns 78,127 shares of the company’s stock, valued at $6,545,480.06. The trade was a 27.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Merdad Parsey sold 25,590 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $91.50, for a total value of $2,341,485.00. Following the transaction, the insider now owns 99,599 shares of the company’s stock, valued at $9,113,308.50. This represents a 20.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,947 shares of company stock valued at $4,968,674. 0.16% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

GILD has been the topic of a number of recent analyst reports. Wells Fargo & Company increased their price target on shares of Gilead Sciences from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Mizuho increased their target price on Gilead Sciences from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Royal Bank of Canada boosted 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. BMO Capital Markets boosted their price objective on shares of Gilead Sciences from $94.00 to $102.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Barclays raised their target price on shares of Gilead Sciences from $84.00 to $95.00 and gave the stock an “equal weight” rating in a report on Thursday, November 7th. Twelve research analysts have rated the stock with a hold rating, eleven have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $95.41.

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.