Archer Investment Corp Acquires 1,454 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Archer Investment Corp boosted its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 25.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 7,190 shares of the biopharmaceutical company’s stock after purchasing an additional 1,454 shares during the quarter. Archer Investment Corp’s holdings in Gilead Sciences were worth $603,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in GILD. Vanguard Group Inc. raised its holdings in Gilead Sciences by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 114,732,575 shares of the biopharmaceutical company’s stock valued at $8,404,161,000 after acquiring an additional 2,910,147 shares in the last quarter. Swedbank AB acquired a new position in shares of Gilead Sciences in the 1st quarter worth approximately $134,489,000. International Assets Investment Management LLC raised its holdings in shares of Gilead Sciences by 8,238.4% in the 3rd quarter. International Assets Investment Management LLC now owns 1,642,504 shares of the biopharmaceutical company’s stock worth $137,708,000 after buying an additional 1,622,806 shares in the last quarter. Capital Research Global Investors raised its holdings in shares of Gilead Sciences by 2.7% in the 1st quarter. Capital Research Global Investors now owns 61,246,366 shares of the biopharmaceutical company’s stock worth $4,486,296,000 after buying an additional 1,589,240 shares in the last quarter. Finally, Pacer Advisors Inc. raised its holdings in shares of Gilead Sciences by 24.7% in the 2nd quarter. Pacer Advisors Inc. now owns 7,889,663 shares of the biopharmaceutical company’s stock worth $541,310,000 after buying an additional 1,564,792 shares in the last quarter. Institutional investors own 83.67% of the company’s stock.

Insider Buying and Selling

In related news, insider Merdad Parsey sold 25,590 shares of Gilead Sciences stock in a transaction dated Wednesday, November 6th. The stock was 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 owns 99,599 shares in the company, valued at approximately $9,113,308.50. This trade represents a 20.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Johanna Mercier sold 29,357 shares of the business’s 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 owns 78,127 shares of the company’s stock, valued at approximately $6,545,480.06. This represents a 27.31 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 56,947 shares of company stock worth $4,968,674. Company insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GILD. Citigroup began coverage on Gilead Sciences in a report on Thursday. They issued a “buy” rating and a $125.00 target price for the company. Sanford C. Bernstein started coverage on Gilead Sciences in a report on Thursday, October 17th. They set an “outperform” rating and a $105.00 price target for the company. Oppenheimer raised their price target on Gilead Sciences from $95.00 to $105.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Leerink Partnrs raised Gilead Sciences from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Finally, Leerink Partners raised Gilead Sciences from a “market perform” rating to an “outperform” rating and raised their price target for the company from $74.00 to $96.00 in a report on Monday, October 21st. Eleven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $93.86.

Gilead Sciences Stock Down 1.5 %

Shares of GILD traded down $1.42 during midday trading on Friday, hitting $90.69. The stock had a trading volume of 1,113,246 shares, compared to its average volume of 7,055,857. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.26 and a quick ratio of 0.82. The company has a 50 day simple moving average of $86.49 and a two-hundred day simple moving average of $75.81. The firm has a market cap of $113.02 billion, a price-to-earnings ratio of 1,007.67, a price-to-earnings-growth ratio of 2.85 and a beta of 0.17. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $98.90.

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 business had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.01 billion. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. Gilead Sciences’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.29 earnings per share. On average, analysts anticipate that Gilead Sciences, Inc. will post 4.39 EPS for the current year.

Gilead Sciences Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be issued a dividend of $0.77 per share. 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 payout ratio is currently 3,422.22%.

Gilead Sciences Company 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.