Larson Financial Group LLC Purchases 3,464 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Larson Financial Group LLC grew its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 79.2% during the third quarter, Holdings Channel reports. The institutional investor owned 7,835 shares of the biopharmaceutical company’s stock after acquiring an additional 3,464 shares during the quarter. Larson Financial Group LLC’s holdings in Gilead Sciences were worth $657,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Manning & Napier Advisors LLC purchased a new position in Gilead Sciences in the second quarter worth $25,328,000. Legal & General Group Plc raised its stake in Gilead Sciences by 0.8% in the second quarter. Legal & General Group Plc now owns 12,414,268 shares of the biopharmaceutical company’s stock valued at $851,743,000 after buying an additional 93,068 shares during the last quarter. IRON Financial LLC purchased a new stake in Gilead Sciences in the third quarter valued at about $830,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Gilead Sciences by 13.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 286,116 shares of the biopharmaceutical company’s stock worth $19,630,000 after acquiring an additional 33,162 shares in the last quarter. Finally, Cetera Investment Advisers grew its stake in shares of Gilead Sciences by 127.6% during the first quarter. Cetera Investment Advisers now owns 213,901 shares of the biopharmaceutical company’s stock worth $15,668,000 after acquiring an additional 119,909 shares during the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. The Goldman Sachs Group increased their price objective on shares of Gilead Sciences from $74.00 to $84.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Piper Sandler raised their price target on shares of Gilead Sciences from $95.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Leerink Partnrs raised shares of Gilead Sciences from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Mizuho raised their target price on Gilead Sciences from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Finally, Robert W. Baird boosted their price target on Gilead Sciences from $80.00 to $95.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Twelve investment analysts have rated the stock with a hold rating, eleven have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $95.41.

Insider Activity at Gilead Sciences

In other news, insider Johanna Mercier sold 29,357 shares of Gilead Sciences stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $83.78, for a total value of $2,459,529.46. Following the sale, the insider now directly owns 78,127 shares of the company’s stock, valued at $6,545,480.06. The trade was a 27.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Merdad Parsey sold 25,590 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total value of $2,341,485.00. Following the sale, the insider now owns 99,599 shares of the company’s stock, valued at $9,113,308.50. The trade was a 20.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,947 shares of company stock valued at $4,968,674. 0.29% of the stock is owned by corporate insiders.

Gilead Sciences Stock Performance

Shares of GILD stock opened at $90.49 on Tuesday. The company has a market capitalization of $112.77 billion, a P/E ratio of 1,005.44, a P/E/G ratio of 2.80 and a beta of 0.17. Gilead Sciences, Inc. has a 12-month low of $62.07 and a 12-month high of $98.90. The business’s 50 day moving average is $87.58 and its two-hundred day moving average is $77.13. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.44. The firm had revenue of $7.55 billion for the quarter, compared to analysts’ expectations of $7.01 billion. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.29 EPS. Analysts expect that Gilead Sciences, Inc. will post 4.37 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend is Friday, December 13th. Gilead Sciences’s dividend payout ratio is presently 3,422.22%.

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.