Freedom Investment Management Inc. Sells 1,659 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Freedom Investment Management Inc. trimmed its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 10.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,724 shares of the biopharmaceutical company’s stock after selling 1,659 shares during the period. Freedom Investment Management Inc.’s holdings in Gilead Sciences were worth $1,151,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. nVerses Capital LLC bought a new stake in shares of Gilead Sciences in the 3rd quarter worth approximately $25,000. Valued Wealth Advisors LLC boosted its holdings in Gilead Sciences by 101.9% in the third quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 161 shares in the last quarter. CarsonAllaria Wealth Management Ltd. increased its position in Gilead Sciences by 198.3% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 238 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in Gilead Sciences in the 2nd quarter worth $33,000. Finally, Cedar Wealth Management LLC lifted its position in shares of Gilead Sciences by 51.6% in the 2nd quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 160 shares during the period. 83.67% of the stock is owned by institutional investors.

Insider Transactions at Gilead Sciences

In other news, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total value of $167,660.00. Following the completion of the sale, the insider now directly owns 100,189 shares in the company, valued at $8,398,843.87. This represents a 1.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jeffrey Bluestone sold 6,788 shares of Gilead Sciences stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $91.39, for a total value of $620,355.32. Following the transaction, the director now owns 8,920 shares in the company, valued at $815,198.80. This trade represents a 43.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 63,735 shares of company stock worth $5,589,030 in the last quarter. Company insiders own 0.29% of the company’s stock.

Gilead Sciences Stock Up 1.2 %

GILD opened at $92.41 on Thursday. The stock has a market capitalization of $115.17 billion, a price-to-earnings ratio of 1,026.78, a PEG ratio of 2.81 and a beta of 0.17. The firm has a 50 day moving average price of $87.91 and a 200-day moving average price of $77.42. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $98.90. 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 (NASDAQ:GILD) last announced its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share 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 period in the previous year, the business earned $2.29 EPS. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. Equities research analysts forecast that Gilead Sciences, Inc. will post 4.37 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The company 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 dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.33%. Gilead Sciences’s dividend payout ratio is currently 3,422.22%.

Analysts Set New Price Targets

GILD has been the subject of a number of research reports. Royal Bank of Canada increased their price target on shares of Gilead Sciences from $81.00 to $84.00 and gave the stock a “sector perform” rating in a research note on Monday, November 18th. Evercore ISI raised Gilead Sciences to a “strong-buy” rating in a research report on Friday, August 9th. Maxim Group lowered Gilead Sciences from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Wells Fargo & Company increased their price objective on Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Finally, Mizuho boosted their target price on shares of Gilead Sciences from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Twelve investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $95.41.

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.