Gilead Sciences, Inc. (NASDAQ:GILD) Holdings Boosted by Edgestream Partners L.P.

Edgestream Partners L.P. grew its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 94.5% in the third quarter, Holdings Channel.com reports. The firm owned 23,917 shares of the biopharmaceutical company’s stock after purchasing an additional 11,618 shares during the period. Edgestream Partners L.P.’s holdings in Gilead Sciences were worth $2,005,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of GILD. FMR LLC lifted its holdings in shares of Gilead Sciences by 79.4% during the 3rd quarter. FMR LLC now owns 33,162,319 shares of the biopharmaceutical company’s stock valued at $2,780,329,000 after buying an additional 14,680,161 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Gilead Sciences by 0.8% during the 2nd 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 last quarter. Dimensional Fund Advisors LP raised its stake in shares of Gilead Sciences by 2.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 10,412,413 shares of the biopharmaceutical company’s stock valued at $714,421,000 after acquiring an additional 268,208 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in Gilead Sciences by 24.7% in the 2nd quarter. Pacer Advisors Inc. now owns 7,889,663 shares of the biopharmaceutical company’s stock worth $541,310,000 after purchasing an additional 1,564,792 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Gilead Sciences by 3.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 7,752,975 shares of the biopharmaceutical company’s stock worth $650,009,000 after purchasing an additional 224,960 shares during the period. Institutional investors and hedge funds own 83.67% of the company’s stock.

Gilead Sciences Price Performance

Shares of GILD stock opened at $94.02 on Tuesday. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 1.24. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $98.90. The firm has a market cap of $117.17 billion, a price-to-earnings ratio of 1,044.67, a PEG ratio of 2.87 and a beta of 0.17. The stock has a 50-day moving average price of $88.26 and a 200 day moving average price of $77.84.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results 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 company had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.01 billion. During the same quarter in the previous year, the company earned $2.29 EPS. Gilead Sciences’s revenue was up 7.0% on a year-over-year basis. Research analysts expect that Gilead Sciences, Inc. will post 4.37 EPS for the current year.

Gilead Sciences Announces Dividend

The business also recently declared 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. The ex-dividend date is Friday, December 13th. This represents a $3.08 annualized dividend and a dividend yield of 3.28%. Gilead Sciences’s dividend payout ratio is currently 3,422.22%.

Insider Buying and Selling

In related news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total transaction of $167,660.00. Following the completion of the transaction, the insider now owns 100,189 shares in the company, valued at approximately $8,398,843.87. The trade was a 1.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey Bluestone sold 6,788 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $91.39, for a total transaction of $620,355.32. Following the completion of the sale, the director now owns 8,920 shares in the company, valued at approximately $815,198.80. This trade represents a 43.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 227,946 shares of company stock valued at $20,683,305 over the last three months. Company insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on GILD shares. The Goldman Sachs Group raised their price objective on shares of Gilead Sciences from $74.00 to $84.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Evercore ISI upgraded Gilead Sciences to a “strong-buy” rating in a research note on Friday, August 9th. Piper Sandler boosted their price target on Gilead Sciences from $95.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Wells Fargo & Company increased their price objective on Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. upped their target price on shares of Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Twelve 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 company presently has a consensus rating of “Moderate Buy” and an average target price of $95.41.

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.