Belmont Capital LLC Has $1.04 Million Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Belmont Capital LLC lessened its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 46.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 12,412 shares of the biopharmaceutical company’s stock after selling 10,900 shares during the period. Belmont Capital LLC’s holdings in Gilead Sciences were worth $1,041,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GILD. Bessemer Group Inc. raised its position in shares of Gilead Sciences by 23.7% during the first quarter. Bessemer Group Inc. now owns 121,072 shares of the biopharmaceutical company’s stock valued at $8,868,000 after buying an additional 23,213 shares during the last quarter. Lake Street Advisors Group LLC lifted its position in shares of Gilead Sciences by 32.8% in the 1st quarter. Lake Street Advisors Group LLC now owns 18,044 shares of the biopharmaceutical company’s stock worth $1,322,000 after acquiring an additional 4,461 shares during the period. Natixis grew its holdings in shares of Gilead Sciences by 40.5% during the 1st quarter. Natixis now owns 152,226 shares of the biopharmaceutical company’s stock worth $11,151,000 after purchasing an additional 43,916 shares in the last quarter. MQS Management LLC bought a new position in shares of Gilead Sciences during the 1st quarter worth about $250,000. Finally, Crewe Advisors LLC acquired a new stake in shares of Gilead Sciences during the 1st quarter valued at about $141,000. Institutional investors and hedge funds own 83.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on GILD shares. Citigroup assumed coverage on shares of Gilead Sciences in a research note on Thursday, November 14th. They set a “buy” rating and a $125.00 price target for the company. JPMorgan Chase & Co. boosted their price target on Gilead Sciences from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Maxim Group lowered Gilead Sciences from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Truist Financial boosted their target price on shares of Gilead Sciences from $83.00 to $97.00 and gave the company a “hold” rating in a research note on Friday, November 8th. Finally, Wells Fargo & Company increased their target price on shares of Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Eleven research analysts have rated the stock with a hold rating, eleven have given a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $94.00.

Insider Buying and Selling

In other news, insider Johanna Mercier sold 29,357 shares of the business’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 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 transaction 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 firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the completion of the transaction, the insider now directly owns 99,599 shares in the company, valued at approximately $9,113,308.50. The trade was a 20.44 % decrease in their position. 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 company insiders.

Gilead Sciences Trading Up 0.1 %

Shares of GILD stock opened at $88.46 on Tuesday. The company has a market cap of $110.25 billion, a P/E ratio of 982.89, a PEG ratio of 2.74 and a beta of 0.17. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $98.90. The stock has a 50 day simple moving average of $86.87 and a two-hundred day simple moving average of $76.27. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.10 and a current ratio of 1.26.

Gilead Sciences (NASDAQ:GILD) last released its 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 company had revenue of $7.55 billion for 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%. Gilead Sciences’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.29 EPS. Research analysts forecast that Gilead Sciences, Inc. will post 4.38 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be paid a $0.77 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.08 annualized dividend and a dividend yield of 3.48%. Gilead Sciences’s dividend payout ratio is presently 3,422.22%.

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.