Beacon Investment Advisory Services Inc. Has $6.42 Million Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Beacon Investment Advisory Services Inc. lifted its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 1.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 76,595 shares of the biopharmaceutical company’s stock after purchasing an additional 1,048 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in Gilead Sciences were worth $6,422,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Benjamin Edwards Inc. raised its position in Gilead Sciences by 1,940.8% in the third quarter. Benjamin Edwards Inc. now owns 365,820 shares of the biopharmaceutical company’s stock valued at $30,672,000 after purchasing an additional 347,895 shares during the last quarter. Atom Investors LP acquired a new position in shares of Gilead Sciences in the third quarter valued at approximately $1,085,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Gilead Sciences in the 3rd quarter valued at approximately $2,389,000. Kestra Investment Management LLC acquired a new stake in Gilead Sciences during the 3rd quarter worth approximately $210,000. Finally, Erste Asset Management GmbH acquired a new position in Gilead Sciences in the 3rd quarter valued at approximately $34,267,000. 83.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on GILD shares. JPMorgan Chase & Co. lifted their price target on shares of Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Leerink Partnrs upgraded Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 21st. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a research report on Thursday, November 7th. Wells Fargo & Company lifted their price objective on Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Finally, Leerink Partners upgraded shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $74.00 to $96.00 in a report on Monday, October 21st. Twelve research analysts have rated the stock with a hold rating, eleven have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $95.41.

Gilead Sciences Trading Up 0.2 %

NASDAQ GILD opened at $92.58 on Monday. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 1.24. Gilead Sciences, Inc. has a 52 week low of $62.07 and a 52 week high of $98.90. The business has a 50 day moving average price of $88.26 and a 200-day moving average price of $77.84. The company has a market cap 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.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.44. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The business had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.01 billion. During the same quarter in the previous year, the business posted $2.29 EPS. Gilead Sciences’s quarterly revenue was up 7.0% on a year-over-year basis. As a group, equities analysts expect 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. Investors of record on Friday, December 13th will be given a $0.77 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.08 annualized dividend and a yield of 3.33%. Gilead Sciences’s payout ratio is 3,422.22%.

Insider Activity at Gilead Sciences

In related news, Director Jeffrey Bluestone sold 6,788 shares of the stock in a transaction on 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 sale, the director now directly owns 8,920 shares of the company’s stock, valued at approximately $815,198.80. This represents a 43.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Johanna Mercier sold 29,357 shares of the firm’s 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 transaction, the insider now owns 78,127 shares in the company, valued at approximately $6,545,480.06. This trade represents a 27.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 227,946 shares of company stock valued at $20,683,305. 0.16% of the stock is owned by corporate insiders.

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.