Lazari Capital Management Inc. Sells 11,867 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Lazari Capital Management Inc. lowered its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 51.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 11,128 shares of the biopharmaceutical company’s stock after selling 11,867 shares during the quarter. Lazari Capital Management Inc.’s holdings in Gilead Sciences were worth $933,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of GILD. CarsonAllaria Wealth Management Ltd. increased its position in shares of Gilead Sciences by 198.3% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 238 shares during the last quarter. nVerses Capital LLC purchased a new stake in Gilead Sciences during the third quarter valued at approximately $25,000. Palisade Asset Management LLC bought a new position in Gilead Sciences in the first quarter worth approximately $29,000. Cedar Wealth Management LLC boosted its stake in shares of Gilead Sciences by 51.6% during the 2nd quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 160 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of Gilead Sciences during the 2nd quarter valued at $33,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Gilead Sciences Stock Up 2.2 %

Shares of GILD opened at $88.16 on Wednesday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.14 and a quick ratio of 0.95. The stock has a market capitalization of $109.83 billion, a price-to-earnings ratio of 244.89, a price-to-earnings-growth 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 $88.36. The business’s 50 day simple moving average is $81.61 and its 200-day simple moving average is $73.07.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.40. Gilead Sciences had a net margin of 3.79% and a return on equity of 29.34%. The company had revenue of $6.95 billion for the quarter, compared to the consensus estimate of $6.64 billion. As a group, equities analysts expect that Gilead Sciences, Inc. will post 3.78 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a $0.77 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.08 annualized dividend and a yield of 3.49%. Gilead Sciences’s dividend payout ratio is currently 855.56%.

Insiders Place Their Bets

In other news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 100,189 shares of the company’s stock, valued at $8,398,843.87. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Gilead Sciences news, insider Johanna Mercier sold 29,357 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the transaction, the insider now owns 78,127 shares in the company, valued at $6,545,480.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total transaction of $167,660.00. Following the completion of the sale, the insider now owns 100,189 shares of the company’s stock, valued at $8,398,843.87. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,847 shares of company stock valued at $3,033,340 over the last ninety days. 0.16% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on GILD shares. Leerink Partnrs upgraded Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research report on Monday. Evercore ISI raised Gilead Sciences to a “strong-buy” rating in a research report on Friday, August 9th. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a report on Thursday, August 15th. Piper Sandler reaffirmed an “overweight” rating and set a $95.00 price target on shares of Gilead Sciences in a report on Wednesday, September 11th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $70.00 price objective on shares of Gilead Sciences in a research note on Monday, September 16th. Ten investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $86.85.

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.