Parallel Advisors LLC Buys 12,349 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Parallel Advisors LLC increased its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 27.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 58,123 shares of the biopharmaceutical company’s stock after acquiring an additional 12,349 shares during the period. Parallel Advisors LLC’s holdings in Gilead Sciences were worth $3,988,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Private Wealth Management Group LLC acquired a new position in Gilead Sciences during the fourth quarter worth approximately $29,000. CarsonAllaria Wealth Management Ltd. increased its position in Gilead Sciences by 198.3% during the second quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 238 shares during the last quarter. Sachetta LLC acquired a new position in Gilead Sciences during the fourth quarter worth approximately $30,000. Palisade Asset Management LLC acquired a new position in Gilead Sciences during the first quarter worth approximately $29,000. Finally, Frank Rimerman Advisors LLC acquired a new position in Gilead Sciences during the fourth quarter worth approximately $36,000. Institutional investors own 83.67% of the company’s stock.

Insiders Place Their Bets

In other Gilead Sciences news, insider Johanna Mercier sold 29,357 shares of the company’s stock in a transaction 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 completion of the sale, the insider now directly owns 78,127 shares in the company, valued at $6,545,480.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $68.63, for a total value of $137,260.00. Following the completion of the transaction, the insider now directly owns 96,380 shares in the company, valued at approximately $6,614,559.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Johanna Mercier sold 29,357 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total value of $2,459,529.46. Following the completion of the transaction, the insider now owns 78,127 shares of the company’s stock, valued at $6,545,480.06. The disclosure for this sale can be found here. Insiders sold 36,847 shares of company stock worth $3,002,940 over the last three months. Insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

GILD has been the topic of a number of recent analyst reports. Truist Financial boosted their price target on Gilead Sciences from $82.00 to $83.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Piper Sandler reaffirmed an “overweight” rating and issued a $95.00 target price on shares of Gilead Sciences in a research report on Wednesday. Raymond James raised Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 target price on the stock in a research report on Monday, July 8th. BMO Capital Markets upped their target price on Gilead Sciences from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Finally, Royal Bank of Canada upped their target price on Gilead Sciences from $72.00 to $74.00 and gave the company a “sector perform” rating in a research report on Wednesday, September 4th. Twelve analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $82.06.

Gilead Sciences Stock Up 0.5 %

NASDAQ GILD opened at $82.81 on Friday. The business has a fifty day moving average price of $75.48 and a two-hundred day moving average price of $70.86. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.14 and a quick ratio of 0.95. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $87.86. The stock has a market capitalization of $103.10 billion, a PE ratio of 230.03, a PEG ratio of 2.80 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.40. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. The firm had revenue of $6.95 billion during the quarter, compared to analysts’ expectations of $6.64 billion. Equities analysts expect that Gilead Sciences, Inc. will post 3.78 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 3.72%. The ex-dividend date of this dividend is Friday, September 13th. Gilead Sciences’s payout ratio is presently 855.56%.

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.