Merdad Parsey Sells 164,211 Shares of Gilead Sciences, Inc. (NASDAQ:GILD) Stock

Gilead Sciences, Inc. (NASDAQ:GILD) insider Merdad Parsey sold 164,211 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $91.92, for a total transaction of $15,094,275.12. Following the sale, the insider now directly owns 80,801 shares of the company’s stock, valued at approximately $7,427,227.92. The trade was a 67.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Merdad Parsey also recently made the following trade(s):

• On Wednesday, November 6th, Merdad Parsey sold 25,590 shares of Gilead Sciences stock. The stock was sold at an average price of $91.50, for a total value of $2,341,485.00.
• On Tuesday, October 1st, Merdad Parsey sold 2,000 shares of Gilead Sciences stock. The shares were sold at an average price of $83.83, for a total value of $167,660.00.

Gilead Sciences Stock Performance

Shares of NASDAQ:GILD opened at $92.58 on Friday. The firm’s 50 day simple moving average is $88.26 and its 200 day simple moving average is $77.76. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $98.90. The company has a market capitalization of $115.38 billion, a price-to-earnings ratio of 1,028.67, a P/E/G ratio of 2.87 and a beta of 0.17. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.26 and a quick ratio of 1.10.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.44. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The company had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.01 billion. During the same period last year, the business posted $2.29 earnings per share. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Gilead Sciences, Inc. will post 4.37 earnings per share for the current year.

Gilead Sciences Announces Dividend

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 $0.77 dividend. The ex-dividend date is Friday, December 13th. This represents a $3.08 dividend on an annualized basis and a yield of 3.33%. Gilead Sciences’s payout ratio is 3,422.22%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GILD. Oppenheimer lifted their price target on Gilead Sciences from $95.00 to $105.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Daiwa America raised shares of Gilead Sciences to a “hold” rating in a research note on Monday, November 18th. Mizuho upped their target price 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. The Goldman Sachs Group raised their price target on shares of Gilead Sciences from $74.00 to $84.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, BMO Capital Markets upped their price objective on Gilead Sciences from $94.00 to $102.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Twelve analysts have rated the stock with a hold rating, eleven have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $95.41.

Institutional Investors Weigh In On Gilead Sciences

Hedge funds have recently modified their holdings of the business. Avior Wealth Management LLC grew its position in shares of Gilead Sciences by 1.2% in the 3rd quarter. Avior Wealth Management LLC now owns 9,422 shares of the biopharmaceutical company’s stock valued at $782,000 after purchasing an additional 108 shares during the period. Concord Asset Management LLC VA boosted its holdings in shares of 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 period. TFB Advisors LLC increased its position in shares of 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 acquiring an additional 116 shares in the last quarter. Sumitomo Life Insurance Co. raised its holdings in shares of Gilead Sciences by 0.7% during the third quarter. Sumitomo Life Insurance Co. now owns 17,822 shares of the biopharmaceutical company’s stock worth $1,494,000 after acquiring an additional 117 shares during the period. Finally, FDx Advisors Inc. lifted its position in 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 in the last quarter. Institutional investors and hedge funds own 83.67% of the company’s stock.

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.