Harvest Fund Management Co. Ltd Boosts Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Harvest Fund Management Co. Ltd grew its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 26.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,377 shares of the biopharmaceutical company’s stock after purchasing an additional 12,076 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Gilead Sciences were worth $4,810,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. CarsonAllaria Wealth Management Ltd. increased its stake in Gilead Sciences by 198.3% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 238 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of Gilead Sciences in the third quarter worth approximately $25,000. Valued Wealth Advisors LLC increased its position in shares of Gilead Sciences by 101.9% during the third quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 161 shares in the last quarter. Cedar Wealth Management LLC raised its stake in Gilead Sciences by 51.6% in the 2nd quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 160 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Gilead Sciences in the 2nd quarter valued at $33,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Insider Transactions at Gilead Sciences

In other Gilead Sciences news, insider Merdad Parsey sold 25,590 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $91.50, for a total value of $2,341,485.00. Following the sale, the insider now directly owns 99,599 shares of the company’s stock, valued at approximately $9,113,308.50. This represents a 20.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Johanna Mercier sold 29,357 shares of Gilead Sciences stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $83.78, for a total transaction 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. This trade represents a 27.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 56,947 shares of company stock valued at $4,968,674. 0.29% of the stock is currently owned by company insiders.

Gilead Sciences Price Performance

GILD stock opened at $90.19 on Monday. The business’s fifty day moving average price is $87.43 and its 200 day moving average price is $76.95. Gilead Sciences, Inc. has a 12-month low of $62.07 and a 12-month high of $98.90. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $112.40 billion, a PE ratio of 1,002.11, a P/E/G ratio of 2.80 and a beta of 0.17.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, topping 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 company had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.01 billion. During the same period in the prior year, the firm earned $2.29 earnings per share. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Gilead Sciences, Inc. will post 4.37 EPS for the current year.

Gilead Sciences Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be paid a $0.77 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.08 annualized dividend and a dividend yield of 3.42%. Gilead Sciences’s dividend payout ratio (DPR) is 3,422.22%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GILD. Robert W. Baird increased their target price on shares of Gilead Sciences from $80.00 to $95.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Maxim Group downgraded shares of Gilead Sciences from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Leerink Partners upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $74.00 to $96.00 in a report on Monday, October 21st. Wells Fargo & Company increased their price target on Gilead Sciences from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Finally, UBS Group lifted their price objective on Gilead Sciences from $70.00 to $96.00 and gave the stock a “neutral” rating in a research report on Thursday. 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 company. According to MarketBeat, Gilead Sciences has an average rating of “Moderate Buy” and an average target price of $95.41.

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.