Tidal Investments LLC Increases Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Tidal Investments LLC increased its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 9.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 111,464 shares of the biopharmaceutical company’s stock after purchasing an additional 10,078 shares during the quarter. Tidal Investments LLC’s holdings in Gilead Sciences were worth $9,345,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. State Street Corp lifted its position in shares of Gilead Sciences by 1.4% during the 3rd quarter. State Street Corp now owns 60,171,691 shares of the biopharmaceutical company’s stock valued at $5,044,795,000 after buying an additional 841,776 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Gilead Sciences by 50.9% during the third quarter. Wellington Management Group LLP now owns 34,600,676 shares of the biopharmaceutical company’s stock valued at $2,900,921,000 after purchasing an additional 11,665,593 shares during the last quarter. FMR LLC boosted its position in Gilead Sciences by 79.4% during the third quarter. FMR LLC now owns 33,162,319 shares of the biopharmaceutical company’s stock worth $2,780,329,000 after purchasing an additional 14,680,161 shares during the period. Geode Capital Management LLC increased its stake in shares of Gilead Sciences by 2.1% in the third quarter. Geode Capital Management LLC now owns 27,540,870 shares of the biopharmaceutical company’s stock worth $2,302,119,000 after purchasing an additional 574,421 shares in the last quarter. Finally, Legal & General Group Plc raised its position in shares of Gilead Sciences by 0.8% in the second quarter. Legal & General Group Plc now owns 12,414,268 shares of the biopharmaceutical company’s stock valued at $851,743,000 after purchasing an additional 93,068 shares during the period. 83.67% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on GILD. Mizuho lifted their price objective on shares of Gilead Sciences from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $80.00 target price on shares of Gilead Sciences in a report on Wednesday. Royal Bank of Canada reissued a “sector perform” rating and issued a $84.00 price target on shares of Gilead Sciences in a report on Wednesday. Barclays boosted their price objective on shares of Gilead Sciences from $84.00 to $95.00 and gave the company an “equal weight” rating in a research note on Thursday, November 7th. Finally, Wolfe Research began coverage on shares of Gilead Sciences in a research note on Friday, November 15th. They issued an “outperform” rating and a $110.00 target price on the stock. Twelve analysts have rated the stock with a hold rating, twelve have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $96.43.

Insider Transactions at Gilead Sciences

In other news, insider Merdad Parsey sold 2,000 shares of the firm’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 sale, the insider now owns 100,189 shares of the company’s stock, valued at approximately $8,398,843.87. This trade represents a 1.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey Bluestone sold 6,788 shares of the business’s stock in a transaction dated 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 directly owns 8,920 shares of the company’s stock, valued at $815,198.80. The trade was a 43.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 447,234 shares of company stock valued at $41,288,086 over the last quarter. Company insiders own 0.16% of the company’s stock.

Gilead Sciences Stock Performance

Shares of GILD stock opened at $92.38 on Friday. The stock has a market cap of $115.13 billion, a PE ratio of 1,026.44, a P/E/G ratio of 2.38 and a beta of 0.18. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.10 and a current ratio of 1.26. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $98.90. The stock has a fifty day moving average price of $89.82 and a 200 day moving average price of $79.26.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.44. The company had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.01 billion. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. Gilead Sciences’s revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.29 earnings per share. Sell-side analysts forecast that Gilead Sciences, Inc. will post 4.35 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be issued a $0.77 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.08 annualized dividend and a yield of 3.33%. Gilead Sciences’s dividend payout ratio is currently 3,422.22%.

Gilead Sciences 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.