BluePath Capital Management LLC Increases Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

BluePath Capital Management LLC raised its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 15.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 9,854 shares of the biopharmaceutical company’s stock after buying an additional 1,299 shares during the period. BluePath Capital Management LLC’s holdings in Gilead Sciences were worth $886,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In other news, insider Merdad Parsey sold 25,590 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $91.50, for a total value of $2,341,485.00. Following the completion of the sale, the insider now owns 99,599 shares in the company, valued at approximately $9,113,308.50. This trade represents a 20.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Andrew D. Dickinson sold 248,645 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $92.76, for a total transaction of $23,064,310.20. Following the transaction, the chief financial officer now owns 138,919 shares in the company, valued at approximately $12,886,126.44. This trade represents a 64.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 453,734 shares of company stock valued at $41,902,086. 0.29% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Daiwa America upgraded shares of Gilead Sciences to a “hold” rating in a report on Monday, November 18th. Leerink Partnrs raised Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 21st. Royal Bank of Canada reissued a “sector perform” rating and set a $84.00 target price on shares of Gilead Sciences in a research note on Wednesday, December 11th. Truist Financial lifted their target price on Gilead Sciences from $83.00 to $97.00 and gave the company a “hold” rating in a research report on Friday, November 8th. Finally, Mizuho increased their price target on shares of Gilead Sciences from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Eleven equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $97.96.

Gilead Sciences Stock Up 1.5 %

Shares of NASDAQ GILD opened at $92.38 on Thursday. The stock has a market cap of $115.13 billion, a PE ratio of 1,026.44, a price-to-earnings-growth ratio of 1.27 and a beta of 0.18. Gilead Sciences, Inc. has a 52-week low of $62.07 and a 52-week high of $98.90. The business has a 50-day moving average price of $91.96 and a 200 day moving average price of $83.69. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 1.24.

Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.44. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The business had revenue of $7.55 billion for the quarter, compared to analysts’ expectations of $7.01 billion. During the same period in the previous year, the company posted $2.29 EPS. The company’s quarterly revenue was up 7.0% on a year-over-year basis. Equities research analysts forecast that Gilead Sciences, Inc. will post 4.36 earnings per share for the current year.

Gilead Sciences Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 3.33%. The ex-dividend date was Friday, December 13th. Gilead Sciences’s dividend payout ratio is presently 3,422.22%.

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.