Dearborn Partners LLC Has $26.76 Million Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Dearborn Partners LLC lowered its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 3.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 319,125 shares of the biopharmaceutical company’s stock after selling 11,954 shares during the period. Dearborn Partners LLC’s holdings in Gilead Sciences were worth $26,755,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. CarsonAllaria Wealth Management Ltd. grew its position in shares of 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 during the 3rd quarter valued at $25,000. Valued Wealth Advisors LLC boosted its stake in 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 acquiring an additional 161 shares in the last quarter. Cedar Wealth Management LLC increased its stake in 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 purchasing an additional 160 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new stake in Gilead Sciences in the second quarter valued at $33,000. 83.67% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Johanna Mercier sold 29,357 shares of the business’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 value of $2,459,529.46. Following the sale, the insider now owns 78,127 shares of the company’s stock, valued at $6,545,480.06. The trade was a 27.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Merdad Parsey sold 25,590 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the completion of the transaction, the insider now directly owns 99,599 shares of the company’s stock, valued at approximately $9,113,308.50. This trade represents a 20.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 56,947 shares of company stock valued at $4,968,674 over the last ninety days. 0.16% of the stock is currently owned by insiders.

Gilead Sciences Trading Down 0.6 %

NASDAQ GILD opened at $92.11 on Friday. The business’s fifty day moving average is $86.22 and its 200-day moving average is $75.69. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.26 and a quick ratio of 0.82. The stock has a market capitalization of $114.79 billion, a price-to-earnings ratio of 1,023.44, a PEG ratio of 2.85 and a beta of 0.17. Gilead Sciences, Inc. has a one year low of $62.07 and a one year high of $98.90.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, topping the consensus estimate of $1.58 by $0.44. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The business had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.01 billion. During the same quarter in the previous year, the firm posted $2.29 earnings per share. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. Equities research analysts predict that Gilead Sciences, Inc. will post 4.39 EPS for the current year.

Gilead Sciences Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 3.34%. The ex-dividend date is Friday, December 13th. Gilead Sciences’s dividend payout ratio (DPR) is 3,422.22%.

Analysts Set New Price Targets

GILD has been the subject of several research reports. Piper Sandler raised their target price on Gilead Sciences from $95.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. increased their price target on Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Leerink Partnrs upgraded Gilead Sciences from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. BMO Capital Markets increased their target price on Gilead Sciences from $94.00 to $102.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, Wells Fargo & Company lifted their price target on shares of Gilead Sciences from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Eleven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $93.86.

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.