Atom Investors LP Invests $1.09 Million in Gilead Sciences, Inc. (NASDAQ:GILD)

Atom Investors LP bought a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 12,942 shares of the biopharmaceutical company’s stock, valued at approximately $1,085,000.

Several other hedge funds have also added to or reduced their stakes in the company. CarsonAllaria Wealth Management Ltd. increased its position in Gilead Sciences by 198.3% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 238 shares during the period. nVerses Capital LLC bought a new position in Gilead Sciences during the third quarter worth about $25,000. Valued Wealth Advisors LLC raised its stake in Gilead Sciences by 101.9% in the 3rd quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 161 shares in the last quarter. Cedar Wealth Management LLC boosted its holdings 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 during the period. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Gilead Sciences during the 2nd quarter worth approximately $33,000. 83.67% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction 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 owns 100,189 shares in the company, valued at $8,398,843.87. The trade was a 1.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Andrew D. Dickinson sold 248,645 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $92.76, for a total value of $23,064,310.20. Following the sale, the chief financial officer now owns 138,919 shares of the company’s stock, valued at approximately $12,886,126.44. The trade was a 64.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 476,591 shares of company stock valued at $43,747,615. Company insiders own 0.29% of the company’s stock.

Gilead Sciences Stock Performance

Gilead Sciences stock opened at $92.49 on Wednesday. The business has a 50 day moving average of $88.63 and a 200-day moving average of $78.20. The company has a market capitalization of $115.27 billion, a P/E ratio of 1,027.67, a P/E/G ratio of 2.92 and a beta of 0.18. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $98.90. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.26 and a quick ratio of 1.10.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.44. The firm had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.01 billion. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The company’s revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.29 EPS. On average, equities research analysts predict 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. Shareholders of record on Friday, December 13th will be given a $0.77 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.33%. Gilead Sciences’s dividend payout ratio (DPR) is presently 3,422.22%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on GILD shares. Leerink Partners upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $74.00 to $96.00 in a research note on Monday, October 21st. Sanford C. Bernstein started coverage on Gilead Sciences in a report on Thursday, October 17th. They set an “outperform” rating and a $105.00 target price on the stock. Truist Financial boosted their price target on Gilead Sciences from $83.00 to $97.00 and gave the company a “hold” rating in a research note on Friday, November 8th. Barclays increased their price objective on shares of Gilead Sciences from $84.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. Finally, Robert W. Baird boosted their target price on shares of Gilead Sciences from $80.00 to $95.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Twelve research analysts have rated the stock with a hold rating, eleven have issued a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $95.41.

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.