Harbour Investments Inc. Lowers Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Harbour Investments Inc. decreased its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 10.7% during the third quarter, Holdings Channel reports. The firm owned 8,090 shares of the biopharmaceutical company’s stock after selling 965 shares during the quarter. Harbour Investments Inc.’s holdings in Gilead Sciences were worth $678,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. CarsonAllaria Wealth Management Ltd. raised its holdings in shares of Gilead Sciences by 198.3% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 238 shares during the period. nVerses Capital LLC acquired a new position in Gilead Sciences in the 3rd quarter valued at about $25,000. Valued Wealth Advisors LLC increased its stake in 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 during the period. Cedar Wealth Management LLC lifted its position in shares of Gilead Sciences by 51.6% during the second quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 160 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new position in shares of Gilead Sciences in the second quarter valued at approximately $33,000. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Gilead Sciences Stock Down 4.0 %

Gilead Sciences stock opened at $88.40 on Friday. The stock has a 50-day simple moving average of $86.49 and a 200-day simple moving average of $75.81. The company has a market capitalization of $110.17 billion, a P/E ratio of 982.22, a PEG ratio of 2.85 and a beta of 0.17. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.82 and a current ratio of 1.26. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $98.90.

Gilead Sciences (NASDAQ:GILD) last announced its 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. The business had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.01 billion. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the firm posted $2.29 earnings per share. Equities research analysts expect that Gilead Sciences, Inc. will post 4.39 earnings per share for the current year.

Gilead Sciences Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.77 per share. The ex-dividend date is Friday, December 13th. This represents a $3.08 annualized dividend and a dividend yield of 3.48%. Gilead Sciences’s dividend payout ratio (DPR) is 3,422.22%.

Insider Buying and Selling

In other Gilead Sciences news, insider Merdad Parsey sold 25,590 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the completion of the transaction, the insider now owns 99,599 shares in the company, valued at approximately $9,113,308.50. This represents a 20.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Johanna Mercier sold 29,357 shares of Gilead Sciences stock in a transaction dated 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 completion of the sale, the insider now directly owns 78,127 shares in the company, 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. Insiders have sold a total of 56,947 shares of company stock valued at $4,968,674 over the last quarter. 0.16% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on GILD shares. Evercore ISI upgraded shares of Gilead Sciences to a “strong-buy” rating in a report on Friday, August 9th. Leerink Partnrs upgraded Gilead Sciences from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Oppenheimer upped their price target on Gilead Sciences from $95.00 to $105.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Wolfe Research initiated coverage on Gilead Sciences in a research note on Friday. They issued an “outperform” rating and a $110.00 price objective for the company. Finally, Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a research note on Thursday, November 7th. Eleven research 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. Based on data from MarketBeat.com, Gilead Sciences presently has a consensus rating of “Moderate Buy” and an average price target of $93.86.

About Gilead Sciences

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.