Worth Asset Management LLC Makes New Investment in Gilead Sciences, Inc. (NASDAQ:GILD)

Worth Asset Management LLC purchased a new stake in Gilead Sciences, Inc. (NASDAQ:GILD) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 24,074 shares of the biopharmaceutical company’s stock, valued at approximately $2,018,000. Gilead Sciences comprises approximately 1.1% of Worth Asset Management LLC’s investment portfolio, making the stock its 22nd largest position.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in Gilead Sciences by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 114,732,575 shares of the biopharmaceutical company’s stock worth $8,404,161,000 after purchasing an additional 2,910,147 shares during the period. Capital World Investors increased its holdings in Gilead Sciences by 1.4% during the 1st quarter. Capital World Investors now owns 84,497,404 shares of the biopharmaceutical company’s stock worth $6,189,435,000 after purchasing an additional 1,133,281 shares during the period. Capital Research Global Investors increased its holdings in Gilead Sciences by 2.7% during the 1st quarter. Capital Research Global Investors now owns 61,246,366 shares of the biopharmaceutical company’s stock worth $4,486,296,000 after purchasing an additional 1,589,240 shares during the period. Wellington Management Group LLP increased its holdings in Gilead Sciences by 14.4% during the 4th quarter. Wellington Management Group LLP now owns 18,630,134 shares of the biopharmaceutical company’s stock worth $1,509,227,000 after purchasing an additional 2,350,550 shares during the period. Finally, Legal & General Group Plc increased its holdings in Gilead Sciences by 0.8% during the 2nd quarter. Legal & General Group Plc now owns 12,414,268 shares of the biopharmaceutical company’s stock worth $851,743,000 after purchasing an additional 93,068 shares during the period. Institutional investors and hedge funds own 83.67% of the company’s stock.

Insiders Place Their Bets

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the company’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 completion of the transaction, the insider now directly owns 100,189 shares in the company, valued at approximately $8,398,843.87. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Johanna Mercier sold 29,357 shares of the 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 sale, the insider now directly owns 78,127 shares of the company’s stock, valued at approximately $6,545,480.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Merdad Parsey sold 2,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total transaction of $167,660.00. Following the sale, the insider now directly owns 100,189 shares in the company, valued at $8,398,843.87. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,847 shares of company stock valued at $3,033,340 in the last quarter. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GILD. Evercore ISI upgraded Gilead Sciences to a “strong-buy” rating in a report on Friday, August 9th. Wells Fargo & Company upgraded Gilead Sciences from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $78.00 to $100.00 in a report on Monday. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a research report on Thursday, August 15th. JPMorgan Chase & Co. upped their target price on Gilead Sciences from $95.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $95.00 price objective on shares of Gilead Sciences in a research report on Wednesday, September 11th. Eleven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $84.83.

Gilead Sciences Price Performance

GILD stock opened at $84.68 on Friday. Gilead Sciences, Inc. has a 52-week low of $62.07 and a 52-week high of $87.86. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.95 and a current ratio of 1.14. The company has a fifty day moving average price of $79.71 and a 200-day moving average price of $72.25. The company has a market capitalization of $105.43 billion, a P/E ratio of 103.26, a PEG ratio of 2.98 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last issued 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. Gilead Sciences had a net margin of 3.79% and a return on equity of 29.34%. The firm had revenue of $6.95 billion during the quarter, compared to analysts’ expectations of $6.64 billion. As a group, equities analysts expect that Gilead Sciences, Inc. will post 3.78 EPS for the current year.

Gilead Sciences Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a $0.77 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.08 dividend on an annualized basis and a yield of 3.64%. Gilead Sciences’s dividend payout ratio is presently 375.61%.

Gilead Sciences 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.