Harbour Investments Inc. Decreases Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Harbour Investments Inc. decreased its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 10.7% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 8,090 shares of the biopharmaceutical company’s stock after selling 965 shares during the period. Harbour Investments Inc.’s holdings in Gilead Sciences were worth $678,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of GILD. CarsonAllaria Wealth Management Ltd. grew its position in 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 purchasing an additional 238 shares during the last quarter. nVerses Capital LLC purchased a new stake in shares of Gilead Sciences during the third quarter valued at $25,000. Valued Wealth Advisors LLC grew its holdings in shares of Gilead Sciences by 101.9% during 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 stake in Gilead Sciences by 51.6% in the 2nd quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 160 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in Gilead Sciences during the 2nd quarter valued at about $33,000. Institutional investors and hedge funds own 83.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Leerink Partnrs upgraded Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 21st. Truist Financial raised their target price on shares of Gilead Sciences from $83.00 to $97.00 and gave the stock a “hold” rating in a report on Friday, November 8th. Wells Fargo & Company increased their price target on Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Maxim Group downgraded Gilead Sciences from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Finally, Wolfe Research assumed coverage on Gilead Sciences in a research report on Friday. They set an “outperform” rating and a $110.00 price target for the company. Eleven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.86.

Insider Activity at Gilead Sciences

In other news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total value of $167,660.00. Following the completion of the sale, the insider now owns 100,189 shares of the company’s stock, valued at $8,398,843.87. This represents a 1.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Johanna Mercier sold 29,357 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now owns 78,127 shares of the company’s stock, valued at $6,545,480.06. This represents a 27.31 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 56,947 shares of company stock valued at $4,968,674. 0.16% of the stock is currently owned by insiders.

Gilead Sciences Stock Down 4.0 %

Shares of GILD opened at $88.40 on Friday. The stock has a 50 day moving average price of $86.49 and a 200 day moving average price of $75.81. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.82 and a current ratio of 1.26. The stock has a market capitalization of $110.17 billion, a price-to-earnings ratio of 982.22, 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 released 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. The business had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.01 billion. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.29 earnings per share. Equities research analysts forecast that Gilead Sciences, Inc. will post 4.39 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

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 dividend yield of 3.48%. Gilead Sciences’s dividend payout ratio is presently 3,422.22%.

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.