TSG Advice Partners LLC Purchases New Stake in Gilead Sciences, Inc. $GILD

TSG Advice Partners LLC acquired a new stake in Gilead Sciences, Inc. (NASDAQ:GILD – Free Report) during the third quarter, HoldingsChannel.com reports. The fund acquired 6,170 shares of the biopharmaceutical company’s stock, valued at approximately $920,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Gilead Sciences during the 2nd quarter worth $15,393,785,000. Legal & General Group Plc acquired a new position in shares of Gilead Sciences during the second quarter worth $1,316,606,000. Deutsche Bank AG acquired a new position in shares of Gilead Sciences during the second quarter worth $918,387,000. Jupiter Topco LLC purchased a new position in Gilead Sciences in the second quarter valued at $448,021,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Gilead Sciences in the second quarter valued at $398,905,000. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Jeffrey Bluestone sold 5,000 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $145.02, for a total transaction of $725,100.00. Following the completion of the sale, the director directly owned 10,066 shares of the company’s stock, valued at $1,459,771.32. This trade represents a 33.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Andrew D. Dickinson sold 3,000 shares of Gilead Sciences stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $156.22, for a total transaction of $468,660.00. Following the completion of the transaction, the chief financial officer owned 161,096 shares in the company, valued at approximately $25,166,417.12. This trade represents a 1.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 126,881 shares of company stock valued at $19,252,455. 0.30% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have weighed in on GILD shares. Citigroup raised their price target on Gilead Sciences from $165.00 to $188.00 and gave the company a “buy” rating in a research note on Friday. Morgan Stanley upped their price objective on Gilead Sciences from $163.00 to $183.00 and gave the stock an “overweight” rating in a research report on Friday. Leerink Partners downgraded Gilead Sciences from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $146.00 to $127.00 in a report on Tuesday, July 21st. Zacks Research lowered Gilead Sciences from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 29th. Finally, Barclays decreased their target price on Gilead Sciences from $155.00 to $145.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 29th. Twenty-three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Gilead Sciences presently has a consensus rating of “Moderate Buy” and an average price target of $169.74.

View Our Latest Stock Analysis on GILD

Gilead Sciences Price Performance

Shares of GILD opened at $170.33 on Tuesday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.09 and a current ratio of 1.27. Gilead Sciences, Inc. has a fifty-two week low of $116.88 and a fifty-two week high of $175.65. The firm has a 50-day simple moving average of $151.36 and a 200-day simple moving average of $140.03. The company has a market capitalization of $211.20 billion, a price-to-earnings ratio of -53.90 and a beta of 0.31.

Gilead Sciences (NASDAQ:GILD – Get Free Report) last issued its quarterly earnings results on Thursday, October 29th. The biopharmaceutical company reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.19 by $0.36. Gilead Sciences had a negative return on equity of 2.11% and a negative net margin of 10.64%. The firm had revenue of $8.30 billion for the quarter, compared to analysts’ expectations of $7.81 billion. During the same quarter in the previous year, the firm posted $2.47 EPS. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, equities research analysts anticipate that Gilead Sciences, Inc. will post -1.03 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 30th. Stockholders of record on Tuesday, December 15th will be issued a $0.82 dividend. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.9%. Gilead Sciences’s payout ratio is presently -103.80%.

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Gilead Sciences Company Profile

(Free Report)

Gilead Sciences, Inc is a biopharmaceutical company that discovers, develops and commercializes medicines for serious and life-threatening diseases. The company is best known for its HIV treatments, including Biktarvy, Descovy, Genvoya and Truvada, as well as therapies for chronic hepatitis B and hepatitis C. Its portfolio also includes Veklury (remdesivir), an antiviral treatment for COVID-19.

Gilead has expanded into oncology and cell therapy through products such as Trodelvy and the CAR T-cell therapies Yescarta and Tecartus, which are developed and marketed through its Kite subsidiary.

See Also

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Institutional Ownership by Quarter for Gilead Sciences (NASDAQ:GILD)

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