Granite Group Advisors LLC Reduces Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Granite Group Advisors LLC trimmed its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 1.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 25,489 shares of the biopharmaceutical company’s stock after selling 336 shares during the quarter. Gilead Sciences comprises approximately 1.4% of Granite Group Advisors LLC’s holdings, making the stock its 21st largest holding. Granite Group Advisors LLC’s holdings in Gilead Sciences were worth $2,137,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. CarsonAllaria Wealth Management Ltd. raised its position 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 acquiring an additional 238 shares in the last quarter. nVerses Capital LLC purchased a new position in shares of Gilead Sciences during the 3rd quarter valued at approximately $25,000. Valued Wealth Advisors LLC lifted its stake in shares of Gilead Sciences by 101.9% in the 3rd quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 161 shares during the period. Cedar Wealth Management LLC boosted its holdings in Gilead Sciences by 51.6% during the second quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 160 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Gilead Sciences in the second quarter valued at $33,000. Institutional investors and hedge funds own 83.67% of the company’s stock.

Gilead Sciences Trading Down 0.8 %

Shares of GILD stock traded down $0.74 on Friday, hitting $97.16. 1,305,828 shares of the stock traded hands, compared to its average volume of 7,018,425. The firm’s 50-day moving average price is $84.58 and its two-hundred day moving average price is $74.67. The stock has a market capitalization of $120.96 billion, a PE ratio of 118.29, a PEG ratio of 3.13 and a beta of 0.17. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.95 and a current ratio of 1.14. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $98.32.

Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.44. The company had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.01 billion. Gilead Sciences had a net margin of 3.79% and a return on equity of 29.34%. Gilead Sciences’s revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.29 earnings per share. As a group, analysts anticipate that Gilead Sciences, Inc. will post 3.75 EPS for the current year.

Gilead Sciences Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend is Friday, December 13th. Gilead Sciences’s dividend payout ratio (DPR) is 375.61%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on GILD shares. Evercore ISI upgraded Gilead Sciences to a “strong-buy” rating in a research report on Friday, August 9th. Piper Sandler boosted their price objective on Gilead Sciences from $95.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday. The Goldman Sachs Group increased their target price on Gilead Sciences from $74.00 to $84.00 and gave the company a “neutral” rating in a research report on Thursday. Robert W. Baird boosted their price target on shares of Gilead Sciences from $80.00 to $95.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, BMO Capital Markets increased 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. Twelve investment analysts have rated the stock with a hold rating, ten have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $90.71.

Insider Transactions at Gilead Sciences

In related news, insider Merdad Parsey sold 25,590 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the completion of the transaction, the insider now directly owns 99,599 shares in the company, valued at $9,113,308.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Gilead Sciences news, 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 transaction 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Johanna Mercier sold 5,490 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total transaction of $406,150.20. Following the completion of the transaction, the insider now owns 114,979 shares of the company’s stock, valued at approximately $8,506,146.42. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 62,437 shares of company stock worth $5,374,825 over the last ninety days. Company insiders own 0.29% of the company’s stock.

Gilead Sciences 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.