Merdad Parsey Sells 2,000 Shares of Gilead Sciences, Inc. (NASDAQ:GILD) Stock

Gilead Sciences, Inc. (NASDAQ:GILD) insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 100,189 shares of the company’s stock, valued at $8,398,843.87. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Gilead Sciences Trading Up 0.5 %

Shares of NASDAQ:GILD opened at $84.59 on Friday. The stock has a 50 day moving average of $79.06 and a 200 day moving average of $71.93. The company has a market cap of $105.39 billion, a PE ratio of 234.97, a price-to-earnings-growth ratio of 2.91 and a beta of 0.18. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 1.18. Gilead Sciences, Inc. has a 12-month low of $62.07 and a 12-month high of $87.86.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.40. The company had revenue of $6.95 billion during the quarter, compared to the consensus estimate of $6.64 billion. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. As a group, equities research analysts expect that Gilead Sciences, Inc. will post 3.78 EPS for the current year.

Gilead Sciences Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a dividend of $0.77 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.64%. Gilead Sciences’s dividend payout ratio (DPR) is presently 855.56%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. CarsonAllaria Wealth Management Ltd. lifted its holdings in Gilead Sciences by 198.3% in 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 in the last quarter. Palisade Asset Management LLC purchased a new position in Gilead Sciences in the 1st quarter worth approximately $29,000. Frank Rimerman Advisors LLC purchased a new position in Gilead Sciences in the 4th quarter worth approximately $36,000. Strategic Investment Solutions Inc. IL purchased a new position in Gilead Sciences in the 2nd quarter worth approximately $33,000. Finally, Cedar Wealth Management LLC lifted its holdings 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 purchasing an additional 160 shares in the last quarter. 83.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GILD has been the subject of several analyst reports. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a report on Thursday, August 15th. Royal Bank of Canada lifted their price objective on Gilead Sciences from $74.00 to $75.00 and gave the stock a “sector perform” rating in a report on Friday. Raymond James upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price objective for the company in a report on Monday, July 8th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $70.00 price objective on shares of Gilead Sciences in a report on Monday, September 16th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $80.00 price objective on shares of Gilead Sciences in a report on Thursday, June 20th. Twelve equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Gilead Sciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.12.

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.