Harmony Asset Management LLC Boosts Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Harmony Asset Management LLC boosted its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 16.6% in the third quarter, HoldingsChannel.com reports. The firm owned 4,458 shares of the biopharmaceutical company’s stock after acquiring an additional 634 shares during the period. Harmony Asset Management LLC’s holdings in Gilead Sciences were worth $374,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. HighTower Advisors LLC grew its stake in Gilead Sciences by 9.2% during the 3rd quarter. HighTower Advisors LLC now owns 1,780,953 shares of the biopharmaceutical company’s stock worth $149,385,000 after purchasing an additional 149,923 shares in the last quarter. Hilltop Holdings Inc. increased its position in Gilead Sciences by 1.1% in the 3rd quarter. Hilltop Holdings Inc. now owns 24,156 shares of the biopharmaceutical company’s stock valued at $2,025,000 after acquiring an additional 269 shares during the period. Hollow Brook Wealth Management LLC lifted its position in Gilead Sciences by 23.2% during the 3rd quarter. Hollow Brook Wealth Management LLC now owns 4,434 shares of the biopharmaceutical company’s stock worth $372,000 after acquiring an additional 834 shares during the period. Garden State Investment Advisory Services LLC purchased a new position in shares of Gilead Sciences in the 3rd quarter valued at approximately $427,000. Finally, Cinctive Capital Management LP purchased a new stake in shares of Gilead Sciences during the third quarter worth approximately $15,544,000. 83.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on GILD. Truist Financial raised their target price on shares of Gilead Sciences from $83.00 to $97.00 and gave the stock a “hold” rating in a research note on Friday, November 8th. Cantor Fitzgerald raised their price target on Gilead Sciences from $70.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Evercore ISI raised Gilead Sciences to a “strong-buy” rating in a report on Friday, August 9th. Leerink Partners raised Gilead Sciences from a “market perform” rating to an “outperform” rating and raised their target price for the company from $74.00 to $96.00 in a report on Monday, October 21st. Finally, UBS Group increased their price target on shares of Gilead Sciences from $70.00 to $96.00 and gave the company a “neutral” rating in a report on Thursday, November 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 company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $95.41.

Gilead Sciences Stock Performance

Gilead Sciences stock opened at $94.02 on Tuesday. The firm has a 50-day moving average of $88.26 and a 200-day moving average of $77.84. 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 firm has a market cap of $117.17 billion, a P/E ratio of 1,044.67, a P/E/G ratio of 2.87 and a beta of 0.18. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $98.90.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.44. The firm had revenue of $7.55 billion during the quarter, compared to the consensus estimate 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 was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.29 earnings per share. Sell-side analysts expect that Gilead Sciences, Inc. will post 4.37 EPS for the current year.

Gilead Sciences Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be issued a dividend of $0.77 per share. The ex-dividend date is Friday, December 13th. This represents a $3.08 annualized dividend and a yield of 3.28%. Gilead Sciences’s dividend payout ratio is currently 3,422.22%.

Insiders Place Their Bets

In other news, insider Johanna Mercier sold 29,357 shares of the firm’s 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 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Merdad Parsey sold 164,211 shares of the firm’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $91.92, for a total transaction of $15,094,275.12. Following the completion of the transaction, the insider now owns 80,801 shares in the company, valued at $7,427,227.92. The trade was a 67.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 227,946 shares of company stock worth $20,683,305. Insiders own 0.29% of the company’s stock.

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.