Beacon Investment Advisory Services Inc. Purchases 1,048 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Beacon Investment Advisory Services Inc. grew its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 1.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 76,595 shares of the biopharmaceutical company’s stock after purchasing an additional 1,048 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Gilead Sciences were worth $6,422,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Avior Wealth Management LLC lifted its stake in Gilead Sciences by 1.2% in the 3rd quarter. Avior Wealth Management LLC now owns 9,422 shares of the biopharmaceutical company’s stock valued at $782,000 after acquiring an additional 108 shares in the last quarter. Concord Asset Management LLC VA boosted its holdings in Gilead Sciences by 3.8% during the third quarter. Concord Asset Management LLC VA now owns 3,056 shares of the biopharmaceutical company’s stock worth $256,000 after purchasing an additional 111 shares during the last quarter. TFB Advisors LLC grew its position in Gilead Sciences by 1.2% in the third quarter. TFB Advisors LLC now owns 9,397 shares of the biopharmaceutical company’s stock valued at $788,000 after purchasing an additional 116 shares in the last quarter. Sumitomo Life Insurance Co. increased its stake in Gilead Sciences by 0.7% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 17,822 shares of the biopharmaceutical company’s stock valued at $1,494,000 after buying an additional 117 shares during the last quarter. Finally, FDx Advisors Inc. lifted its position in Gilead Sciences by 2.2% during the 3rd quarter. FDx Advisors Inc. now owns 5,365 shares of the biopharmaceutical company’s stock worth $450,000 after buying an additional 117 shares in the last quarter. 83.67% of the stock is owned by institutional investors and hedge funds.

Gilead Sciences Stock Up 0.2 %

GILD opened at $92.58 on Monday. 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 stock has a fifty day moving average of $88.26 and a 200-day moving average of $77.84. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $98.90. The company has a market capitalization of $115.38 billion, a P/E ratio of 1,028.67, a P/E/G ratio of 2.87 and a beta of 0.17.

Gilead Sciences (NASDAQ:GILD) last posted 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 net margin of 0.45% and a return on equity of 29.00%. The firm had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.01 billion. During the same quarter in the previous year, the firm posted $2.29 EPS. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, equities analysts expect that Gilead Sciences, Inc. will post 4.37 EPS for the current year.

Gilead Sciences Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.08 dividend on an annualized basis and a yield of 3.33%. Gilead Sciences’s dividend payout ratio (DPR) is presently 3,422.22%.

Insider Buying and Selling at Gilead Sciences

In related news, 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 transaction, the insider now directly owns 100,189 shares of the company’s stock, valued at $8,398,843.87. This trade represents a 1.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jeffrey Bluestone sold 6,788 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $91.39, for a total value of $620,355.32. Following the sale, the director now owns 8,920 shares of the company’s stock, valued at $815,198.80. The trade was a 43.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 227,946 shares of company stock valued at $20,683,305 in the last three months. Corporate insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GILD. The Goldman Sachs Group raised their price objective on Gilead Sciences from $74.00 to $84.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Piper Sandler raised their price target on Gilead Sciences from $95.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Truist Financial upped their price objective on Gilead Sciences from $83.00 to $97.00 and gave the stock a “hold” rating in a research note on Friday, November 8th. Leerink Partners raised Gilead Sciences from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $74.00 to $96.00 in a report on Monday, October 21st. Finally, Barclays boosted 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 equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.