Garden State Investment Advisory Services LLC Makes New Investment in Gilead Sciences, Inc. (NASDAQ:GILD)

Garden State Investment Advisory Services LLC acquired a new stake in Gilead Sciences, Inc. (NASDAQ:GILD) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 5,090 shares of the biopharmaceutical company’s stock, valued at approximately $427,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GILD. Avior Wealth Management LLC lifted its stake in Gilead Sciences by 1.2% in the 3rd quarter. Avior Wealth Management LLC now owns 9,422 shares of the biopharmaceutical company’s stock valued at $782,000 after purchasing an additional 108 shares during the last quarter. Concord Asset Management LLC VA raised its stake in Gilead Sciences by 3.8% in the third quarter. Concord Asset Management LLC VA now owns 3,056 shares of the biopharmaceutical company’s stock valued at $256,000 after buying an additional 111 shares during the period. TFB Advisors LLC lifted its position in shares of Gilead Sciences by 1.2% in the third quarter. TFB Advisors LLC now owns 9,397 shares of the biopharmaceutical company’s stock valued at $788,000 after buying an additional 116 shares during the last quarter. Sumitomo Life Insurance Co. boosted its stake in shares of Gilead Sciences by 0.7% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 17,822 shares of the biopharmaceutical company’s stock worth $1,494,000 after acquiring an additional 117 shares during the period. Finally, FDx Advisors Inc. increased its holdings in shares of Gilead Sciences by 2.2% during the 3rd quarter. FDx Advisors Inc. now owns 5,365 shares of the biopharmaceutical company’s stock worth $450,000 after acquiring an additional 117 shares during the last quarter. 83.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GILD has been the subject of a number of research analyst reports. Leerink Partnrs raised shares of Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 21st. Mizuho increased their price target on shares of Gilead Sciences from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Oppenheimer boosted their price objective on Gilead Sciences from $95.00 to $105.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. The Goldman Sachs Group lifted their price target on Gilead Sciences from $74.00 to $84.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Sanford C. Bernstein initiated coverage on Gilead Sciences in a report on Thursday, October 17th. They issued an “outperform” rating and a $105.00 price objective on the stock. Twelve 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $95.41.

Insiders Place Their Bets

In other news, insider Johanna Mercier sold 29,357 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was 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 in the company, valued at $6,545,480.06. This trade represents a 27.31 % decrease in their ownership of the stock. 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 164,211 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $91.92, for a total value of $15,094,275.12. Following the completion of the sale, the insider now owns 80,801 shares in the company, valued at $7,427,227.92. The trade was a 67.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 227,946 shares of company stock valued at $20,683,305 in the last ninety days. 0.16% of the stock is currently owned by insiders.

Gilead Sciences Stock Up 0.2 %

Shares of NASDAQ:GILD opened at $92.58 on Monday. Gilead Sciences, Inc. has a 52-week low of $62.07 and a 52-week high of $98.90. The company has a market capitalization of $115.38 billion, a PE ratio of 1,028.67, a price-to-earnings-growth ratio of 2.87 and a beta of 0.17. 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 company has a fifty day moving average of $88.26 and a 200-day moving average of $77.84.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $7.01 billion. During the same quarter in the prior year, the firm earned $2.29 EPS. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, equities analysts predict that Gilead Sciences, Inc. will post 4.37 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be given a dividend of $0.77 per share. 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 presently 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.