Q3 Asset Management Makes New Investment in Gilead Sciences, Inc. (NASDAQ:GILD)

Q3 Asset Management acquired a new position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 31,125 shares of the biopharmaceutical company's stock, valued at approximately $3,485,000. Gilead Sciences accounts for approximately 2.4% of Q3 Asset Management's investment portfolio, making the stock its 13th biggest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of GILD. Financial Security Advisor Inc. purchased a new stake in shares of Gilead Sciences during the first quarter valued at approximately $220,000. Arizona State Retirement System grew its holdings in shares of Gilead Sciences by 7.3% during the first quarter. Arizona State Retirement System now owns 385,832 shares of the biopharmaceutical company's stock valued at $43,232,000 after buying an additional 26,089 shares during the last quarter. Kathmere Capital Management LLC grew its holdings in shares of Gilead Sciences by 24.6% during the first quarter. Kathmere Capital Management LLC now owns 21,830 shares of the biopharmaceutical company's stock valued at $2,446,000 after buying an additional 4,303 shares during the last quarter. Ballentine Partners LLC grew its holdings in shares of Gilead Sciences by 7.0% during the first quarter. Ballentine Partners LLC now owns 23,371 shares of the biopharmaceutical company's stock valued at $2,619,000 after buying an additional 1,535 shares during the last quarter. Finally, Omega Financial Group LLC purchased a new stake in shares of Gilead Sciences during the first quarter valued at approximately $206,000. Hedge funds and other institutional investors own 83.67% of the company's stock.

Gilead Sciences Stock Down 4.3%

GILD opened at $109.64 on Friday. The company has a current ratio of 1.37, a quick ratio of 1.23 and a debt-to-equity ratio of 1.16. Gilead Sciences, Inc. has a 1-year low of $70.21 and a 1-year high of $119.96. The company has a market capitalization of $136.38 billion, a PE ratio of 23.08, a PEG ratio of 0.71 and a beta of 0.29. The firm's 50 day simple moving average is $107.74 and its two-hundred day simple moving average is $104.68.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $1.77 by $0.04. Gilead Sciences had a net margin of 20.76% and a return on equity of 51.93%. The company had revenue of $6.67 billion for the quarter, compared to analysts' expectations of $6.77 billion. During the same quarter in the previous year, the company earned ($1.32) EPS. Gilead Sciences's revenue for the quarter was down .3% on a year-over-year basis. As a group, equities analysts forecast that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend was Friday, June 13th. Gilead Sciences's dividend payout ratio (DPR) is 66.53%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GILD. Oppenheimer cut their price target on shares of Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Cantor Fitzgerald initiated coverage on shares of Gilead Sciences in a report on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 price target on the stock. Morgan Stanley increased their price objective on shares of Gilead Sciences from $130.00 to $135.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. JPMorgan Chase & Co. increased their price objective on shares of Gilead Sciences from $120.00 to $130.00 and gave the company an "overweight" rating in a research report on Thursday, March 27th. Finally, Needham & Company LLC restated a "hold" rating on shares of Gilead Sciences in a research report on Wednesday, May 21st. Nine investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $111.38.

Insider Activity at Gilead Sciences

In related news, CEO Daniel Patrick O'day sold 10,000 shares of Gilead Sciences stock in a transaction on Friday, May 30th. The shares were sold at an average price of $110.42, for a total transaction of $1,104,200.00. Following the transaction, the chief executive officer owned 620,268 shares in the company, valued at approximately $68,489,992.56. The trade was a 1.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Johanna Mercier sold 28,000 shares of Gilead Sciences stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $107.52, for a total transaction of $3,010,560.00. Following the transaction, the insider owned 121,152 shares in the company, valued at approximately $13,026,263.04. This trade represents a 18.77% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 58,500 shares of company stock worth $6,340,745. 0.27% of the stock is owned by corporate insiders.

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.

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