Procyon Private Wealth Partners LLC Increases Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Procyon Private Wealth Partners LLC lifted its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 59.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 21,726 shares of the biopharmaceutical company’s stock after purchasing an additional 8,130 shares during the period. Procyon Private Wealth Partners LLC’s holdings in Gilead Sciences were worth $1,518,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Cascade Investment Advisors Inc. lifted its holdings in shares of Gilead Sciences by 0.6% in the second quarter. Cascade Investment Advisors Inc. now owns 25,300 shares of the biopharmaceutical company’s stock worth $1,742,000 after buying an additional 145 shares in the last quarter. Lehman & Derafelo Financial Resources LLC lifted its holdings in shares of Gilead Sciences by 0.6% in the second quarter. Lehman & Derafelo Financial Resources LLC now owns 24,330 shares of the biopharmaceutical company’s stock worth $1,675,000 after buying an additional 150 shares in the last quarter. Westhampton Capital LLC lifted its holdings in shares of Gilead Sciences by 3.5% in the second quarter. Westhampton Capital LLC now owns 4,410 shares of the biopharmaceutical company’s stock worth $304,000 after buying an additional 150 shares in the last quarter. Sound Income Strategies LLC lifted its holdings in shares of Gilead Sciences by 14.6% in the third quarter. Sound Income Strategies LLC now owns 1,176 shares of the biopharmaceutical company’s stock worth $82,000 after buying an additional 150 shares in the last quarter. Finally, Lyell Wealth Management LP lifted its holdings in shares of Gilead Sciences by 2.1% in the second quarter. Lyell Wealth Management LP now owns 7,604 shares of the biopharmaceutical company’s stock worth $524,000 after buying an additional 154 shares in the last quarter. 78.05% of the stock is currently owned by hedge funds and other institutional investors.

GILD has been the topic of several research analyst reports. SVB Leerink decreased their price objective on shares of Gilead Sciences from $77.00 to $75.00 and set an “outperform” rating on the stock in a research report on Friday, October 29th. Evercore ISI restated a “buy” rating on shares of Gilead Sciences in a research report on Sunday, October 31st. Morgan Stanley upped their price objective on shares of Gilead Sciences from $83.00 to $84.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 12th. BMO Capital Markets upgraded shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $72.00 to $85.00 in a research report on Thursday, November 18th. Finally, Piper Sandler initiated coverage on shares of Gilead Sciences in a research report on Friday, November 19th. They issued a “neutral” rating and a $77.00 price objective on the stock. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $117.07.

NASDAQ:GILD opened at $70.07 on Thursday. The firm has a market cap of $87.89 billion, a PE ratio of 11.96, a price-to-earnings-growth ratio of 0.72 and a beta of 0.34. Gilead Sciences, Inc. has a fifty-two week low of $56.56 and a fifty-two week high of $73.34. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.20 and a current ratio of 1.37. The business has a 50 day moving average price of $68.20 and a 200-day moving average price of $68.77.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Thursday, October 28th. The biopharmaceutical company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.93. The firm had revenue of $7.42 billion during the quarter, compared to analyst estimates of $6.31 billion. Gilead Sciences had a return on equity of 56.59% and a net margin of 26.91%. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.11 earnings per share. Research analysts predict that Gilead Sciences, Inc. will post 7.98 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 30th. Investors of record on Wednesday, December 15th will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date is Tuesday, December 14th. Gilead Sciences’s payout ratio is 48.46%.

About Gilead Sciences

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.

See Also: Understanding Market Liquidity

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Institutional Ownership by Quarter for Gilead Sciences (NASDAQ:GILD)

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