Gilead Sciences, Inc. (NASDAQ:GILD) Shares Sold by Valley National Advisers Inc.

Valley National Advisers Inc. trimmed its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 48.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 47,155 shares of the biopharmaceutical company’s stock after selling 43,699 shares during the period. Gilead Sciences comprises 0.7% of Valley National Advisers Inc.’s investment portfolio, making the stock its 27th biggest holding. Valley National Advisers Inc.’s holdings in Gilead Sciences were worth $3,952,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in GILD. CarsonAllaria Wealth Management Ltd. increased its stake 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 acquired a new position in shares of Gilead Sciences in the 3rd quarter valued at $25,000. Palisade Asset Management LLC acquired a new position in shares of Gilead Sciences in the 1st quarter valued at $29,000. Cedar Wealth Management LLC boosted its holdings in shares of 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 buying an additional 160 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Gilead Sciences in the 2nd quarter valued at $33,000. 83.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on GILD shares. Leerink Partnrs upgraded shares of Gilead Sciences from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Raymond James upgraded shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price objective for the company in a research report on Monday, July 8th. Sanford C. Bernstein assumed coverage on shares of Gilead Sciences in a research report on Thursday, October 17th. They set an “outperform” rating and a $105.00 price objective for the company. BMO Capital Markets increased their price target on shares of Gilead Sciences from $85.00 to $94.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, Evercore ISI upgraded shares of Gilead Sciences to a “strong-buy” rating in a report on Friday, August 9th. Ten equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, Gilead Sciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.85.

Insiders Place Their Bets

In other news, insider Johanna Mercier sold 5,490 shares of the company’s stock in a transaction that occurred 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 directly owns 114,979 shares in the company, valued at $8,506,146.42. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total value of $167,660.00. Following the completion of 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Johanna Mercier sold 5,490 shares of Gilead Sciences stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total value of $406,150.20. Following the transaction, the insider now directly owns 114,979 shares of the company’s stock, valued at approximately $8,506,146.42. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,847 shares of company stock valued at $3,033,340 over the last 90 days. 0.16% of the stock is currently owned by company insiders.

Gilead Sciences Trading Up 0.2 %

NASDAQ:GILD opened at $89.00 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.14 and a quick ratio of 0.95. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $89.74. The stock’s 50-day moving average is $82.46 and its two-hundred day moving average is $73.44. The stock has a market cap of $110.80 billion, a PE ratio of 108.54, a price-to-earnings-growth ratio of 3.07 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 EPS for the quarter, beating the consensus estimate of $1.61 by $0.40. The business had revenue of $6.95 billion during the quarter, compared to analysts’ expectations of $6.64 billion. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. As a group, equities research analysts forecast that Gilead Sciences, Inc. will post 3.76 earnings per share for the current fiscal 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 3.46%. Gilead Sciences’s payout ratio is currently 375.61%.

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.