Occidental Asset Management LLC Raises Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Occidental Asset Management LLC grew its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 9.3% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 34,636 shares of the biopharmaceutical company’s stock after buying an additional 2,960 shares during the period. Occidental Asset Management LLC’s holdings in Gilead Sciences were worth $2,904,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in GILD. Iams Wealth Management LLC lifted its holdings in shares of Gilead Sciences by 2.8% during the third quarter. Iams Wealth Management LLC now owns 30,170 shares of the biopharmaceutical company’s stock worth $2,530,000 after purchasing an additional 809 shares during the period. Creative Planning raised its position in Gilead Sciences by 16.1% during the 3rd quarter. Creative Planning now owns 219,045 shares of the biopharmaceutical company’s stock worth $18,365,000 after buying an additional 30,451 shares during the last quarter. Wesbanco Bank Inc. lifted its stake in shares of Gilead Sciences by 1.8% in the 3rd quarter. Wesbanco Bank Inc. now owns 20,526 shares of the biopharmaceutical company’s stock worth $1,721,000 after acquiring an additional 364 shares during the period. CX Institutional boosted its holdings in shares of Gilead Sciences by 34.2% in the third quarter. CX Institutional now owns 60,987 shares of the biopharmaceutical company’s stock valued at $5,113,000 after acquiring an additional 15,545 shares in the last quarter. Finally, Sivia Capital Partners LLC increased its stake in shares of Gilead Sciences by 3.9% during the third quarter. Sivia Capital Partners LLC now owns 3,249 shares of the biopharmaceutical company’s stock worth $272,000 after acquiring an additional 123 shares during the period. Institutional investors and hedge funds own 83.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GILD. Truist Financial raised their price objective on shares of Gilead Sciences from $82.00 to $83.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. raised their price target on Gilead Sciences from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Raymond James raised Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price objective on the stock in a report on Monday, July 8th. Evercore ISI upgraded Gilead Sciences to a “strong-buy” rating in a research report on Friday, August 9th. Finally, Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a research report on Thursday, August 15th. Ten 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $84.83.

Insider Buying and Selling at Gilead Sciences

In related news, insider Johanna Mercier sold 5,490 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total transaction of $406,150.20. Following the transaction, the insider now directly owns 114,979 shares in the company, valued at approximately $8,506,146.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total value of $167,660.00. Following the transaction, the insider now directly owns 100,189 shares of the company’s stock, valued at approximately $8,398,843.87. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Johanna Mercier sold 5,490 shares of Gilead Sciences stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total value of $406,150.20. Following the completion of the transaction, the insider now owns 114,979 shares in the company, valued at $8,506,146.42. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 36,847 shares of company stock worth $3,033,340. Insiders own 0.16% of the company’s stock.

Gilead Sciences Price Performance

GILD stock opened at $85.05 on Tuesday. 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 stock’s 50 day moving average price is $80.07 and its 200 day moving average price is $72.42. The firm has a market cap of $105.96 billion, a P/E ratio of 236.25, a PEG ratio of 2.98 and a beta of 0.18. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $87.86.

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 the consensus estimate of $1.61 by $0.40. The business had revenue of $6.95 billion for 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%. On average, sell-side analysts expect that Gilead Sciences, Inc. will post 3.78 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The company also recently announced 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 annualized dividend and a yield of 3.62%. Gilead Sciences’s payout ratio is currently 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.