Gilead Sciences, Inc. (NASDAQ:GILD) Shares Bought by Providence Wealth Advisors LLC

Providence Wealth Advisors LLC lifted its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 3.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,522 shares of the biopharmaceutical company’s stock after acquiring an additional 425 shares during the quarter. Providence Wealth Advisors LLC’s holdings in Gilead Sciences were worth $1,276,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Northwest & Ethical Investments L.P. grew its position in shares of Gilead Sciences by 15.7% in the 3rd quarter. Northwest & Ethical Investments L.P. now owns 234,572 shares of the biopharmaceutical company’s stock worth $19,667,000 after acquiring an additional 31,746 shares in the last quarter. Public Sector Pension Investment Board lifted its holdings in shares of Gilead Sciences by 13.4% in the 3rd quarter. Public Sector Pension Investment Board now owns 54,122 shares of the biopharmaceutical company’s stock worth $4,538,000 after purchasing an additional 6,400 shares during the last quarter. Noesis Capital Mangement Corp lifted its holdings in shares of Gilead Sciences by 4.0% in the 3rd quarter. Noesis Capital Mangement Corp now owns 116,113 shares of the biopharmaceutical company’s stock worth $9,735,000 after purchasing an additional 4,425 shares during the last quarter. Fiduciary Trust Co lifted its holdings in shares of Gilead Sciences by 26.4% in the 3rd quarter. Fiduciary Trust Co now owns 13,424 shares of the biopharmaceutical company’s stock worth $1,125,000 after purchasing an additional 2,807 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Gilead Sciences by 9.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 848,235 shares of the biopharmaceutical company’s stock worth $71,116,000 after purchasing an additional 74,063 shares during the last quarter. Institutional investors and hedge funds own 83.67% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on GILD shares. Evercore ISI raised Gilead Sciences to a “strong-buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. raised their price target on Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Sanford C. Bernstein assumed coverage on Gilead Sciences in a report on Thursday, October 17th. They issued an “outperform” rating and a $105.00 price target on the stock. Barclays lifted their target price on Gilead Sciences from $84.00 to $95.00 and gave the company an “equal weight” rating in a research note on Thursday, November 7th. Finally, Truist Financial lifted their target price on Gilead Sciences from $83.00 to $97.00 and gave the company a “hold” rating in a research note on Friday, November 8th. Twelve investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $95.41.

Insider Activity

In related news, insider Merdad Parsey sold 25,590 shares of Gilead Sciences stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the completion of the sale, the insider now owns 99,599 shares of the company’s stock, valued at approximately $9,113,308.50. This trade represents a 20.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Johanna Mercier sold 29,357 shares of Gilead Sciences stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total value 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. The trade was a 27.31 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,735 shares of company stock worth $5,589,030. 0.16% of the stock is owned by corporate insiders.

Gilead Sciences Stock Performance

Shares of NASDAQ GILD opened at $92.41 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $115.17 billion, a price-to-earnings ratio of 1,026.78, a PEG ratio of 2.87 and a beta of 0.17. The stock’s fifty day simple moving average is $88.08 and its 200 day simple moving average is $77.52. Gilead Sciences, Inc. has a 52-week low of $62.07 and a 52-week high of $98.90.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $7.01 billion. During the same quarter in the previous year, the company posted $2.29 earnings per share. Gilead Sciences’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 fiscal year.

Gilead Sciences Announces Dividend

The firm 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 dividend of $0.77 per share. The ex-dividend date of this dividend 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 3,422.22%.

Gilead Sciences Company 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.