Atlanta Consulting Group Advisors LLC Acquires New Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Atlanta Consulting Group Advisors LLC purchased a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) during the 3rd quarter, HoldingsChannel.com reports. The firm purchased 14,342 shares of the biopharmaceutical company’s stock, valued at approximately $1,202,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GILD. M&G Plc bought a new position in shares of Gilead Sciences during the 1st quarter worth approximately $7,082,000. Nicolet Advisory Services LLC lifted its position in shares of Gilead Sciences by 12.9% during the 1st quarter. Nicolet Advisory Services LLC now owns 2,941 shares of the biopharmaceutical company’s stock valued at $206,000 after buying an additional 336 shares during the last quarter. Allstate Corp increased its stake in shares of Gilead Sciences by 4.6% in the first quarter. Allstate Corp now owns 4,249 shares of the biopharmaceutical company’s stock worth $311,000 after purchasing an additional 187 shares in the last quarter. Edgestream Partners L.P. raised its holdings in Gilead Sciences by 447.6% during the 1st quarter. Edgestream Partners L.P. now owns 52,973 shares of the biopharmaceutical company’s stock valued at $3,880,000 after acquiring an additional 43,300 shares during the period. Finally, Covestor Ltd boosted its stake in Gilead Sciences by 20.7% in the 1st quarter. Covestor Ltd now owns 3,225 shares of the biopharmaceutical company’s stock worth $236,000 after purchasing an additional 553 shares during the period. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on GILD. Royal Bank of Canada upped their price target on shares of Gilead Sciences from $75.00 to $81.00 and gave the stock a “sector perform” rating in a report on Thursday, November 7th. Sanford C. Bernstein assumed coverage on Gilead Sciences in a research report on Thursday, October 17th. They set an “outperform” rating and a $105.00 price target for the company. BMO Capital Markets upped their price objective on shares of Gilead Sciences from $94.00 to $102.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. raised their target price on shares of Gilead Sciences from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a report on Thursday, November 7th. Eleven equities 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $93.86.

Insiders Place Their Bets

In other news, insider Johanna Mercier sold 29,357 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Merdad Parsey sold 25,590 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total value of $2,341,485.00. Following the completion of the transaction, the insider now directly owns 99,599 shares in the company, valued at approximately $9,113,308.50. This represents a 20.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,947 shares of company stock valued at $4,968,674. Corporate insiders own 0.16% of the company’s stock.

Gilead Sciences Price Performance

Shares of GILD stock opened at $88.40 on Friday. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $98.90. The stock has a market cap of $110.17 billion, a price-to-earnings ratio of 982.22, a PEG ratio of 2.72 and a beta of 0.17. The company has a quick ratio of 0.82, a current ratio of 1.26 and a debt-to-equity ratio of 1.24. The business’s fifty day moving average is $86.68 and its 200 day moving average is $76.04.

Gilead Sciences (NASDAQ:GILD) last released its 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. The business had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.01 billion. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.29 earnings per share. Research analysts expect that Gilead Sciences, Inc. will post 4.38 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.77 per share. The ex-dividend date is Friday, December 13th. This represents a $3.08 annualized dividend and a yield of 3.48%. Gilead Sciences’s dividend payout ratio is 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.