Exome Asset Management LLC acquired a new position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 50,000 shares of the biopharmaceutical company's stock, valued at approximately $4,192,000. Gilead Sciences makes up 2.8% of Exome Asset Management LLC's investment portfolio, making the stock its 8th biggest position.
Several other institutional investors and hedge funds have also bought and sold shares of GILD. Brass Tax Wealth Management Inc. bought a new stake in shares of Gilead Sciences during the third quarter valued at approximately $242,000. Garden State Investment Advisory Services LLC purchased a new stake in shares of Gilead Sciences in the 3rd quarter worth about $221,000. Franklin Resources Inc. increased its stake in shares of Gilead Sciences by 22.8% in the 3rd quarter. Franklin Resources Inc. now owns 2,241,354 shares of the biopharmaceutical company's stock worth $190,611,000 after acquiring an additional 416,379 shares in the last quarter. Tri Ri Asset Management Corp purchased a new position in Gilead Sciences during the 3rd quarter valued at about $3,380,000. Finally, Synovus Financial Corp boosted its stake in Gilead Sciences by 99.6% during the third quarter. Synovus Financial Corp now owns 37,265 shares of the biopharmaceutical company's stock worth $3,124,000 after acquiring an additional 18,592 shares in the last quarter. 83.67% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms recently weighed in on GILD. Citigroup assumed coverage on Gilead Sciences in a research note on Thursday, November 14th. They issued a "buy" rating and a $125.00 price target on the stock. Mizuho raised their price target on Gilead Sciences from $90.00 to $100.00 and gave the company an "outperform" rating in a report on Thursday, November 21st. JPMorgan Chase & Co. upped their price target on shares of Gilead Sciences from $100.00 to $105.00 and gave the stock an "overweight" rating in a research note on Thursday, November 7th. Piper Sandler raised their price objective on shares of Gilead Sciences from $95.00 to $105.00 and gave the company an "overweight" rating in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group upped their target price on shares of Gilead Sciences from $74.00 to $84.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. Twelve equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $96.43.
Check Out Our Latest Report on Gilead Sciences
NASDAQ GILD opened at $91.86 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.10 and a current ratio of 1.26. The business's fifty day moving average is $89.96 and its 200 day moving average is $79.45. The company has a market capitalization of $114.48 billion, a PE ratio of 1,020.61, a price-to-earnings-growth ratio of 2.38 and a beta of 0.18. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $98.90.
Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced 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. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The company had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.01 billion. During the same period in the previous year, the company posted $2.29 EPS. The firm's revenue was up 7.0% on a year-over-year basis. Sell-side analysts predict that Gilead Sciences, Inc. will post 4.35 earnings per share for the current year.
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 given a $0.77 dividend. The ex-dividend date is Friday, December 13th. This represents a $3.08 annualized dividend and a dividend yield of 3.35%. Gilead Sciences's payout ratio is 3,422.22%.
In related news, CFO Andrew D. Dickinson sold 248,645 shares of the stock in a transaction dated Friday, November 29th. The shares were 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. This trade represents a 64.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Merdad Parsey sold 25,590 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total value of $2,341,485.00. Following the sale, the insider now directly owns 99,599 shares in the company, valued at $9,113,308.50. The trade was a 20.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 447,234 shares of company stock valued at $41,288,086 over the last 90 days. Company insiders own 0.16% of the company's stock.
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.
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