Edgewood Management LLC Has $3.35 Million Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Edgewood Management LLC lessened its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 2.6% during the 3rd quarter, Holdings Channel reports. The firm owned 39,930 shares of the biopharmaceutical company’s stock after selling 1,085 shares during the quarter. Edgewood Management LLC’s holdings in Gilead Sciences were worth $3,348,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in GILD. CarsonAllaria Wealth Management Ltd. boosted its stake in shares of Gilead Sciences by 198.3% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 238 shares in the last quarter. nVerses Capital LLC bought a new position in shares of Gilead Sciences in the third quarter valued at about $25,000. Valued Wealth Advisors LLC raised its holdings in shares of Gilead Sciences by 101.9% in the third quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 161 shares during the last quarter. Cedar Wealth Management LLC raised its holdings 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 bought a new position in shares of Gilead Sciences in the second quarter valued at about $33,000. Institutional investors and hedge funds own 83.67% of the company’s stock.

Insider Activity at Gilead Sciences

In other news, insider Johanna Mercier sold 29,357 shares of the firm’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 transaction of $2,459,529.46. Following the completion of the transaction, the insider now directly owns 78,127 shares of the company’s stock, valued at $6,545,480.06. This trade represents a 27.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total transaction of $167,660.00. Following the transaction, the insider now directly owns 100,189 shares of the company’s stock, valued at $8,398,843.87. This represents a 1.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 56,947 shares of company stock worth $4,968,674. 0.16% of the stock is owned by company insiders.

Gilead Sciences Price Performance

Shares of GILD opened at $89.84 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.10 and a current ratio of 1.26. The stock has a 50 day simple moving average of $87.28 and a 200 day simple moving average of $76.61. Gilead Sciences, Inc. has a 52-week low of $62.07 and a 52-week high of $98.90. The firm has a market capitalization of $111.96 billion, a PE ratio of 998.22, a P/E/G ratio of 2.72 and a beta of 0.17.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data 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. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The business had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.01 billion. During the same period in the previous year, the firm earned $2.29 EPS. Gilead Sciences’s quarterly revenue was up 7.0% compared to the same quarter last year. Sell-side analysts predict that Gilead Sciences, Inc. will post 4.38 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors 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 annualized dividend and a dividend yield of 3.43%. Gilead Sciences’s dividend payout ratio is presently 3,422.22%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. BMO Capital Markets lifted their price target on Gilead Sciences from $94.00 to $102.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a report on Thursday, November 7th. Leerink Partners raised Gilead Sciences from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $74.00 to $96.00 in a report on Monday, October 21st. JPMorgan Chase & Co. boosted their price objective on Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Finally, Daiwa America raised Gilead Sciences to a “hold” rating in a report on Monday. Twelve equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $95.41.

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.