Raymond James & Associates Grows Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Raymond James & Associates increased its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 4.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,411,768 shares of the biopharmaceutical company’s stock after buying an additional 109,014 shares during the quarter. Raymond James & Associates owned about 0.19% of Gilead Sciences worth $202,203,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. CarsonAllaria Wealth Management Ltd. lifted its holdings 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 during the period. nVerses Capital LLC purchased a new position in Gilead Sciences in the 3rd quarter valued at approximately $25,000. Palisade Asset Management LLC purchased a new position in Gilead Sciences in the 1st quarter valued at approximately $29,000. Cedar Wealth Management LLC increased its stake in Gilead Sciences by 51.6% in 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 in the last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Gilead Sciences in the 2nd quarter valued at approximately $33,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Insider Buying and Selling at Gilead Sciences

In other news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total value of $167,660.00. Following the sale, the insider now directly owns 100,189 shares of the company’s stock, valued at approximately $8,398,843.87. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Johanna Mercier sold 29,357 shares of Gilead Sciences stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the sale, the insider now directly owns 78,127 shares of the company’s stock, valued at $6,545,480.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total value of $167,660.00. Following the sale, the insider now directly owns 100,189 shares in the company, valued at $8,398,843.87. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,847 shares of company stock worth $3,033,340 over the last three months. Corporate insiders own 0.16% of the company’s stock.

Gilead Sciences Price Performance

Shares of NASDAQ:GILD opened at $86.72 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 1.18. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $87.86. The business has a fifty day simple moving average of $81.06 and a 200 day simple moving average of $72.81. The firm has a market cap of $108.04 billion, a price-to-earnings ratio of 240.89, a P/E/G ratio of 2.98 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.40. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. The business had revenue of $6.95 billion during the quarter, compared to analyst estimates of $6.64 billion. As a group, sell-side analysts predict that Gilead Sciences, Inc. will post 3.78 earnings per share for the current fiscal 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 issued a dividend of $0.77 per share. The ex-dividend date was Friday, September 13th. This represents a $3.08 annualized dividend and a yield of 3.55%. Gilead Sciences’s dividend payout ratio (DPR) is currently 855.56%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Royal Bank of Canada raised their price objective on Gilead Sciences from $74.00 to $75.00 and gave the company a “sector perform” rating in a research note on Friday, October 4th. Cantor Fitzgerald reissued a “neutral” rating and set a $70.00 price target on shares of Gilead Sciences in a research report on Monday, September 16th. Barclays raised their price target on Gilead Sciences from $76.00 to $84.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Sanford C. Bernstein began coverage on Gilead Sciences in a research report on Thursday. They set an “outperform” rating and a $105.00 price target for the company. Finally, JPMorgan Chase & Co. raised their price target on Gilead Sciences from $95.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Ten research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.37.

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.