Merdad Parsey Sells 2,000 Shares of Gilead Sciences, Inc. (NASDAQ:GILD) Stock

Gilead Sciences, Inc. (NASDAQ:GILD) insider Merdad Parsey sold 2,000 shares of Gilead Sciences 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Gilead Sciences Stock Up 1.0 %

NASDAQ:GILD traded up $0.80 during mid-day trading on Wednesday, reaching $84.74. The stock had a trading volume of 6,042,317 shares, compared to its average volume of 7,254,624. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.14 and a quick ratio of 0.95. The stock has a market cap of $105.57 billion, a P/E ratio of 235.39, a PEG ratio of 2.91 and a beta of 0.18. The business’s 50 day moving average is $78.53 and its 200 day moving average is $71.67. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $87.86.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.40. The company had revenue of $6.95 billion for the quarter, compared to analyst estimates of $6.64 billion. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. As a group, sell-side analysts predict that Gilead Sciences, Inc. will post 3.78 earnings per share for the current year.

Gilead Sciences Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a dividend of $0.77 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.08 dividend on an annualized basis and a yield of 3.63%. Gilead Sciences’s payout ratio is currently 855.56%.

Hedge Funds Weigh In On Gilead Sciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Manning & Napier Advisors LLC bought a new stake in shares of Gilead Sciences during the 2nd quarter worth $25,328,000. Legal & General Group Plc boosted its holdings in Gilead Sciences by 0.8% during the second quarter. Legal & General Group Plc now owns 12,414,268 shares of the biopharmaceutical company’s stock valued at $851,743,000 after acquiring an additional 93,068 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Gilead Sciences in the first quarter valued at about $462,000. Brookstone Capital Management grew its position in shares of Gilead Sciences by 751.1% in the first quarter. Brookstone Capital Management now owns 127,258 shares of the biopharmaceutical company’s stock valued at $9,322,000 after purchasing an additional 112,305 shares during the last quarter. Finally, Comerica Bank increased its stake in shares of Gilead Sciences by 10.7% in the fourth quarter. Comerica Bank now owns 329,990 shares of the biopharmaceutical company’s stock worth $26,733,000 after purchasing an additional 31,849 shares during the period. Institutional investors and hedge funds own 83.67% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Piper Sandler reaffirmed an “overweight” rating and set a $95.00 target price on shares of Gilead Sciences in a research note on Wednesday, September 11th. Royal Bank of Canada raised their price objective on shares of Gilead Sciences from $72.00 to $74.00 and gave the company a “sector perform” rating in a research report on Wednesday, September 4th. Robert W. Baird reiterated a “neutral” rating and issued a $80.00 target price on shares of Gilead Sciences in a report on Thursday, June 20th. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a report on Thursday, August 15th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $70.00 price target on shares of Gilead Sciences in a research report on Monday, September 16th. Twelve equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.06.

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.