Tri Ri Asset Management Corp Buys Shares of 40,314 Gilead Sciences, Inc. (NASDAQ:GILD)

Tri Ri Asset Management Corp bought a new stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 40,314 shares of the biopharmaceutical company’s stock, valued at approximately $3,380,000. Gilead Sciences accounts for about 1.7% of Tri Ri Asset Management Corp’s portfolio, making the stock its 23rd biggest holding.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Synovus Financial Corp increased its holdings in shares of Gilead Sciences by 99.6% in the third quarter. Synovus Financial Corp now owns 37,265 shares of the biopharmaceutical company’s stock worth $3,124,000 after purchasing an additional 18,592 shares during the period. Tidal Investments LLC increased its holdings in shares of Gilead Sciences by 9.9% in the third quarter. Tidal Investments LLC now owns 111,464 shares of the biopharmaceutical company’s stock worth $9,345,000 after purchasing an additional 10,078 shares during the period. Optimist Retirement Group LLC increased its holdings in shares of Gilead Sciences by 5.4% in the third quarter. Optimist Retirement Group LLC now owns 27,234 shares of the biopharmaceutical company’s stock worth $2,283,000 after purchasing an additional 1,391 shares during the period. Blankinship & Foster LLC bought a new position in shares of Gilead Sciences in the third quarter worth $1,006,000. Finally, Wilmington Savings Fund Society FSB increased its holdings in shares of Gilead Sciences by 278.4% in the third quarter. Wilmington Savings Fund Society FSB now owns 18,660 shares of the biopharmaceutical company’s stock worth $1,564,000 after purchasing an additional 13,729 shares during the period. Institutional investors own 83.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on GILD shares. Mizuho upped their price target on shares of Gilead Sciences from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. BMO Capital Markets upped their target price on shares of Gilead Sciences from $94.00 to $102.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. UBS Group upped their target price on shares of Gilead Sciences from $70.00 to $96.00 and gave the stock a “neutral” rating in a research report on Thursday, November 21st. Truist Financial upped their target price on shares of Gilead Sciences from $83.00 to $97.00 and gave the stock a “hold” rating in a research report on Friday, November 8th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $80.00 target price on shares of Gilead Sciences in a research report on Wednesday. Twelve research analysts have rated the stock with a hold rating, twelve have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, Gilead Sciences currently has an average rating of “Moderate Buy” and a consensus price target of $96.43.

Insider Activity

In related news, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was 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 owns 100,189 shares of the company’s stock, valued at approximately $8,398,843.87. This represents a 1.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey Bluestone sold 6,788 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $91.39, for a total value of $620,355.32. Following the completion of the transaction, the director now directly owns 8,920 shares of the company’s stock, valued at $815,198.80. The trade was a 43.21 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 447,234 shares of company stock worth $41,288,086. 0.16% of the stock is currently owned by company insiders.

Gilead Sciences Price Performance

GILD opened at $92.38 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.10 and a current ratio of 1.26. Gilead Sciences, Inc. has a 52-week low of $62.07 and a 52-week high of $98.90. The stock’s 50 day moving average price is $89.82 and its 200-day moving average price is $79.26. The stock has a market capitalization of $115.13 billion, a PE ratio of 1,026.44, a price-to-earnings-growth ratio of 2.38 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.44. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The business had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.01 billion. During the same period last year, the company earned $2.29 EPS. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, equities research analysts predict that Gilead Sciences, Inc. will post 4.35 EPS for the current year.

Gilead Sciences Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be issued a $0.77 dividend. The ex-dividend date is Friday, December 13th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.33%. Gilead Sciences’s dividend payout ratio is presently 3,422.22%.

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.