Garden State Investment Advisory Services LLC Purchases Shares of 5,090 Gilead Sciences, Inc. (NASDAQ:GILD)

Garden State Investment Advisory Services LLC acquired a new position in Gilead Sciences, Inc. (NASDAQ:GILD) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 5,090 shares of the biopharmaceutical company’s stock, valued at approximately $427,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GILD. nVerses Capital LLC bought a new stake in Gilead Sciences in the third quarter worth approximately $25,000. Valued Wealth Advisors LLC grew its position in shares of Gilead Sciences by 101.9% during the 3rd quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 161 shares during the period. CarsonAllaria Wealth Management Ltd. increased its stake 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 acquiring an additional 238 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in shares of Gilead Sciences during the 2nd quarter valued at $33,000. Finally, Cedar Wealth Management LLC boosted its stake 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 acquiring an additional 160 shares in the last quarter. 83.67% of the stock is owned by institutional investors and hedge funds.

Gilead Sciences Price Performance

Shares of NASDAQ GILD opened at $92.58 on Monday. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24. The stock has a fifty day simple moving average of $88.26 and a two-hundred day simple moving average of $77.84. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $98.90. The firm has a market cap of $115.38 billion, a price-to-earnings ratio of 1,028.67, a price-to-earnings-growth ratio of 2.87 and a beta of 0.17.

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

Gilead Sciences Dividend Announcement

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

Insider Activity at Gilead Sciences

In related news, insider Johanna Mercier sold 29,357 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the sale, the insider now owns 78,127 shares of the company’s stock, valued at approximately $6,545,480.06. This represents a 27.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Merdad Parsey sold 164,211 shares of the firm’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $91.92, for a total transaction of $15,094,275.12. Following the completion of the transaction, the insider now directly owns 80,801 shares of the company’s stock, valued at approximately $7,427,227.92. The trade was a 67.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 227,946 shares of company stock worth $20,683,305. 0.16% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

GILD has been the topic of a number of research analyst reports. Piper Sandler increased their price objective on shares of Gilead Sciences from $95.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Evercore ISI raised Gilead Sciences to a “strong-buy” rating in a research note on Friday, August 9th. Citigroup initiated coverage on Gilead Sciences in a report on Thursday, November 14th. They set a “buy” rating and a $125.00 price objective for the company. Oppenheimer increased their target price on Gilead Sciences from $95.00 to $105.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, Truist Financial boosted their price target on shares of Gilead Sciences from $83.00 to $97.00 and gave the company a “hold” rating in a research note on Friday, November 8th. Twelve investment 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 company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $95.41.

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.