Industrial Alliance Investment Management Inc. Acquires 2,243 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Posted by Defense World Staff on Mar 16th, 2023

Gilead Sciences logo Industrial Alliance Investment Management Inc. raised its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD – Get Rating) by 2.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 82,010 shares of the biopharmaceutical company’s stock after purchasing an additional 2,243 shares during the quarter. Industrial Alliance Investment Management Inc.’s holdings in Gilead Sciences were worth $5,059,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Premier Fund Managers Ltd lifted its position in Gilead Sciences by 62.0% during the third quarter. Premier Fund Managers Ltd now owns 8,746 shares of the biopharmaceutical company’s stock valued at $552,000 after purchasing an additional 3,346 shares during the last quarter. Avantax Planning Partners Inc. purchased a new stake in shares of Gilead Sciences in the third quarter valued at $229,000. Brookstone Capital Management raised its stake in shares of Gilead Sciences by 5.7% in the third quarter. Brookstone Capital Management now owns 169,160 shares of the biopharmaceutical company’s stock valued at $11,061,000 after acquiring an additional 9,145 shares during the period. Gladstone Institutional Advisory LLC raised its stake in shares of Gilead Sciences by 8.5% in the third quarter. Gladstone Institutional Advisory LLC now owns 15,099 shares of the biopharmaceutical company’s stock valued at $931,000 after acquiring an additional 1,180 shares during the period. Finally, Moody National Bank Trust Division raised its stake in shares of Gilead Sciences by 27.7% in the third quarter. Moody National Bank Trust Division now owns 29,923 shares of the biopharmaceutical company’s stock valued at $1,846,000 after acquiring an additional 6,492 shares during the period. Institutional investors own 78.72% of the company’s stock.

Insider Activity

In other news, insider Merdad Parsey sold 6,126 shares of the firm’s stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $78.99, for a total value of $483,892.74. Following the sale, the insider now directly owns 70,130 shares in the company, valued at approximately $5,539,568.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GILD. SVB Leerink increased their target price on shares of Gilead Sciences from $81.00 to $91.00 and gave the company a “market perform” rating in a research note on Friday, February 3rd. Morgan Stanley increased their target price on shares of Gilead Sciences from $80.00 to $81.00 and gave the company an “equal weight” rating in a research note on Friday, February 3rd. DZ Bank downgraded shares of Gilead Sciences from a “buy” rating to a “hold” rating and set a $90.00 target price on the stock. in a research note on Friday, December 9th. Oppenheimer raised their price target on shares of Gilead Sciences from $95.00 to $105.00 in a research note on Thursday, December 1st. Finally, Piper Sandler raised their price target on shares of Gilead Sciences from $111.00 to $112.00 and gave the stock an “overweight” rating in a research note on Friday, February 3rd. Nine analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.40.

Gilead Sciences Stock Down 0.2 %

Shares of Gilead Sciences stock opened at $79.65 on Thursday. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.29 and a quick ratio of 1.15. Gilead Sciences, Inc. has a 1 year low of $57.17 and a 1 year high of $89.74. The firm’s 50-day moving average is $83.53 and its two-hundred day moving average is $78.29. The stock has a market cap of $99.33 billion, a price-to-earnings ratio of 21.82, a PEG ratio of 0.95 and a beta of 0.38.

Gilead Sciences (NASDAQ:GILD – Get Rating) last issued its earnings results on Thursday, February 2nd. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.17. Gilead Sciences had a net margin of 16.83% and a return on equity of 44.46%. The company had revenue of $7.39 billion for the quarter, compared to analysts’ expectations of $6.63 billion. During the same period in the prior year, the business earned $0.69 EPS. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. As a group, research analysts expect that Gilead Sciences, Inc. will post 6.84 earnings per share for the current fiscal year.

Gilead Sciences Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 30th. Stockholders of record on Wednesday, March 15th will be issued a $0.75 dividend. This is a boost from Gilead Sciences’s previous quarterly dividend of $0.73. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date is Tuesday, March 14th. Gilead Sciences’s dividend payout ratio (DPR) is currently 80.00%.

About Gilead Sciences

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Gilead Sciences, Inc is a biopharmaceutical company, which engages in the research, development, and commercialization of medicines in areas of unmet medical need. The firm’s primary areas of focus include human immunodeficiency virus, acquired immunodeficiency syndrome, liver diseases, hematology, oncology, and inflammation and respiratory diseases.