Verity Asset Management Inc. Raises Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Verity Asset Management Inc. boosted its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 23.5% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,860 shares of the biopharmaceutical company’s stock after buying an additional 2,066 shares during the quarter. Verity Asset Management Inc.’s holdings in Gilead Sciences were worth $911,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of GILD. CarsonAllaria Wealth Management Ltd. boosted its stake in shares of Gilead Sciences by 198.3% during the second 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 during the last quarter. nVerses Capital LLC acquired a new stake in shares of Gilead Sciences during the 3rd quarter worth about $25,000. Valued Wealth Advisors LLC grew its holdings in shares of Gilead Sciences by 101.9% during the third quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 161 shares in the last quarter. Cedar Wealth Management LLC raised its position in shares of Gilead Sciences by 51.6% in the second 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 during the last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new position in shares of Gilead Sciences during the second quarter valued at approximately $33,000. Institutional investors and hedge funds own 83.67% of the company’s stock.

Insider Activity

In other Gilead Sciences news, insider Johanna Mercier sold 5,490 shares of the firm’s stock in a transaction dated 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 owns 114,979 shares of the company’s stock, valued at $8,506,146.42. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Gilead Sciences news, insider Merdad Parsey sold 25,590 shares of Gilead Sciences stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the completion of the sale, the insider now owns 99,599 shares of the company’s stock, valued at approximately $9,113,308.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Johanna Mercier sold 5,490 shares of Gilead Sciences stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total value of $406,150.20. Following the sale, the insider now directly owns 114,979 shares of the company’s stock, valued at approximately $8,506,146.42. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 62,437 shares of company stock worth $5,374,825. 0.29% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on GILD. BMO Capital Markets lifted their target price on shares of Gilead Sciences from $94.00 to $102.00 and gave the stock an “outperform” rating in a research note on Thursday. Robert W. Baird lifted their price objective on Gilead Sciences from $80.00 to $95.00 and gave the company a “neutral” rating in a research report on Thursday. Leerink Partners upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $74.00 to $96.00 in a research report on Monday, October 21st. Wells Fargo & Company lifted their price target on Gilead Sciences from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Leerink Partnrs upgraded shares of Gilead Sciences from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Eleven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, Gilead Sciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.05.

Gilead Sciences Stock Up 6.8 %

Shares of Gilead Sciences stock opened at $97.90 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 1-year low of $62.07 and a 1-year high of $98.32. The business has a 50-day moving average of $84.58 and a 200-day moving average of $74.67. The company has a market capitalization of $121.88 billion, a PE ratio of 119.39, a P/E/G ratio of 3.13 and a beta of 0.17.

Gilead Sciences (NASDAQ:GILD) last announced its earnings results 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. The company had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.01 billion. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. Gilead Sciences’s quarterly 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. As a group, equities analysts forecast that Gilead Sciences, Inc. will post 3.75 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The business also recently announced 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 3.15%. The ex-dividend date is Friday, December 13th. 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.