Elite Wealth Management Inc. Purchases 26,129 Shares of Gilead Sciences, Inc. $GILD

Elite Wealth Management Inc. lifted its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 171.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 41,361 shares of the biopharmaceutical company’s stock after buying an additional 26,129 shares during the quarter. Gilead Sciences comprises 1.2% of Elite Wealth Management Inc.’s investment portfolio, making the stock its 24th largest holding. Elite Wealth Management Inc.’s holdings in Gilead Sciences were worth $6,165,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in GILD. Persistent Asset Partners Ltd bought a new position in Gilead Sciences during the second quarter valued at approximately $25,000. Kimelman & Baird LLC acquired a new stake in Gilead Sciences in the second quarter valued at approximately $25,000. PFS Partners LLC grew its position in Gilead Sciences by 101.1% in the third quarter. PFS Partners LLC now owns 191 shares of the biopharmaceutical company’s stock worth $28,000 after acquiring an additional 96 shares in the last quarter. Laurel Wealth Advisors LLC bought a new stake in Gilead Sciences in the third quarter worth approximately $29,000. Finally, Wiser Advisor Group LLC bought a new stake in Gilead Sciences in the second quarter worth approximately $30,000. Institutional investors and hedge funds own 83.67% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Andrew D. Dickinson sold 3,000 shares of the company’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $156.22, for a total transaction of $468,660.00. Following the completion of the transaction, the chief financial officer owned 161,096 shares of the company’s stock, valued at approximately $25,166,417.12. This represents a 1.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Johanna Mercier sold 3,000 shares of the stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $156.22, for a total transaction of $468,660.00. Following the completion of the sale, the insider owned 113,684 shares of the company’s stock, valued at approximately $17,759,714.48. The trade was a 2.57% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 239,310 shares of company stock worth $38,945,617 in the last ninety days. Insiders own 0.30% of the company’s stock.

Gilead Sciences Stock Performance

Shares of Gilead Sciences stock opened at $166.89 on Monday. The company’s fifty day simple moving average is $153.04 and its 200-day simple moving average is $140.94. The company has a market cap of $207.00 billion, a price-to-earnings ratio of -52.81 and a beta of 0.35. The company has a current ratio of 1.38, a quick ratio of 1.22 and a debt-to-equity ratio of 1.84. Gilead Sciences, Inc. has a 1 year low of $116.88 and a 1 year high of $176.58.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Thursday, October 29th. The biopharmaceutical company reported $2.55 EPS for the quarter, beating the consensus estimate of $2.19 by $0.36. The firm had revenue of $8.30 billion during the quarter, compared to analysts’ expectations of $7.81 billion. Gilead Sciences had a negative net margin of 12.47% and a negative return on equity of 1.85%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.47 EPS. As a group, sell-side analysts expect that Gilead Sciences, Inc. will post -1.07 EPS for the current year.

Gilead Sciences Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 30th. Shareholders of record on Tuesday, December 15th will be given a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 2.0%. The ex-dividend date is Tuesday, December 15th. Gilead Sciences’s dividend payout ratio (DPR) is currently -103.80%.

Analyst Ratings Changes

Several brokerages have recently commented on GILD. Morgan Stanley increased their price target on shares of Gilead Sciences from $163.00 to $183.00 and gave the stock an “overweight” rating in a research note on Friday, October 30th. Truist Financial lifted their price objective on shares of Gilead Sciences from $158.00 to $181.00 and gave the company a “buy” rating in a research note on Friday, October 30th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $175.00 price objective on shares of Gilead Sciences in a report on Monday, November 2nd. Leerink Partners downgraded shares of Gilead Sciences from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $146.00 to $127.00 in a research report on Tuesday, July 21st. Finally, Needham & Company LLC set a $175.00 target price on shares of Gilead Sciences in a research report on Friday, October 30th. Twenty-three analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $170.15.

More Gilead Sciences News

Here are the key news stories impacting Gilead Sciences this week:

• Positive Sentiment: New HIV-prevention data showed twice-yearly lenacapavir achieved nearly twice the one-year treatment persistence of daily oral F/TDF, a result that could support Gilead’s long-acting HIV-prevention strategy. Article: New Data Show Twice-Yearly Lenacapavir Achieved Nearly Twice the One-Year Persistence
• Positive Sentiment: In the Phase 3 IDEAL study, Livdelzi (seladelpar) achieved ALP normalization in about 75% of participants with primary biliary cholangitis. The results may strengthen its case for broader second-line use, although the stock reportedly fell following the update. Article: Gilead’s Livdelzi Achieves 75% ALP Normalization
• Positive Sentiment: Recent third-quarter results beat analyst estimates for earnings and revenue, and Gilead raised full-year product-sales guidance. The company also maintained its quarterly dividend at $0.82 per share. Article: Did Earnings Beat Just Shift Gilead Sciences’ Investment Narrative?
• Neutral Sentiment: CEO Daniel O’Day sold more than 112,000 shares across November 4–5, but the transactions were conducted under a pre-arranged Rule 10b5-1 plan. He retained 551,683 shares, which may temper concerns about the sales. SEC Form 4 filing

About Gilead Sciences

Gilead Sciences, Inc is a biopharmaceutical company that discovers, develops and commercializes medicines for serious diseases. Founded in 1987 and headquartered in Foster City, California, the company focuses on antiviral therapies, including treatments and preventive medicines for HIV and medicines for viral hepatitis. Its products include Biktarvy for HIV and Epclusa for hepatitis C.

Gilead also develops medicines in areas such as oncology and inflammatory diseases. Its portfolio includes Veklury (remdesivir), an antiviral medicine used to treat COVID-19.