L2 Asset Management LLC bought a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD – Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 64,505 shares of the biopharmaceutical company’s stock, valued at approximately $8,150,000.
A number of other institutional investors have also made changes to their positions in GILD. Strategic Investment Solutions Inc. IL acquired a new position in shares of Gilead Sciences in the fourth quarter valued at $25,000. Persistent Asset Partners Ltd bought a new stake in shares of Gilead Sciences during the 2nd quarter worth about $25,000. Vermillion & White Wealth Management Group LLC grew its stake in Gilead Sciences by 71.4% in the 4th quarter. Vermillion & White Wealth Management Group LLC now owns 204 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 85 shares during the last quarter. Quattro Advisors LLC bought a new position in Gilead Sciences in the 4th quarter valued at about $26,000. Finally, Wealth Preservation Advisors LLC raised its holdings in Gilead Sciences by 60.0% in the 4th quarter. Wealth Preservation Advisors LLC now owns 216 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 81 shares during the period. 83.67% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on GILD. Maxim Group upgraded Gilead Sciences from a “hold” rating to a “buy” rating and set a $165.00 price objective for the company in a report on Wednesday, May 20th. Truist Financial lowered their target price on Gilead Sciences from $157.00 to $156.00 and set a “buy” rating on the stock in a research note on Tuesday, July 7th. Cantor Fitzgerald reissued an “overweight” rating and set a $155.00 price target on shares of Gilead Sciences in a report on Wednesday, August 5th. Rothschild & Co Redburn reduced their price target on Gilead Sciences from $170.00 to $167.00 in a research note on Monday, May 11th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $170.00 price objective on shares of Gilead Sciences in a report on Wednesday, August 5th. Twenty-four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $158.04.
Gilead Sciences Stock Performance
NASDAQ GILD opened at $146.74 on Tuesday. The firm has a 50-day moving average price of $132.42 and a two-hundred day moving average price of $136.57. Gilead Sciences, Inc. has a 12-month low of $108.46 and a 12-month high of $157.29. The company has a market capitalization of $181.95 billion, a P/E ratio of -54.96 and a beta of 0.32. The company has a quick ratio of 1.09, a current ratio of 1.27 and a debt-to-equity ratio of 2.03.
Gilead Sciences (NASDAQ:GILD – Get Free Report) last announced its earnings results on Monday, August 3rd. The biopharmaceutical company reported ($6.75) EPS for the quarter, topping the consensus estimate of ($7.25) by $0.50. Gilead Sciences had a negative net margin of 10.64% and a negative return on equity of 2.11%. The company had revenue of $7.80 billion for the quarter, compared to analysts’ expectations of $7.40 billion. During the same period last year, the firm earned $2.01 earnings per share. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. Analysts anticipate that Gilead Sciences, Inc. will post -0.51 earnings per share for the current year.
Gilead Sciences Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Tuesday, September 15th. Gilead Sciences’s dividend payout ratio (DPR) is -122.85%.
Insider Buying and Selling
In other Gilead Sciences news, Director Jeffrey Bluestone sold 5,000 shares of Gilead Sciences stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $145.02, for a total value of $725,100.00. Following the completion of the transaction, the director directly owned 10,066 shares of the company’s stock, valued at $1,459,771.32. The trade was a 33.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Andrew D. Dickinson sold 3,000 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $138.36, for a total value of $415,080.00. Following the sale, the chief financial officer owned 165,646 shares of the company’s stock, valued at approximately $22,918,780.56. The trade was a 1.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 87,000 shares of company stock worth $11,562,960 in the last quarter. Insiders own 0.30% of the company’s stock.
Gilead Sciences Company Profile
Gilead Sciences, Inc, founded in 1987 and headquartered in Foster City, California, is a biopharmaceutical company focused on the discovery, development and commercialization of medicines in areas of high unmet medical need. The company initially built its reputation in antiviral therapies and has since expanded into oncology, cell therapy and inflammatory diseases. Gilead operates a global research and commercial organization, conducting clinical development and selling medicines in markets around the world.
Gilead’s product portfolio is anchored by antiviral therapies for HIV and viral hepatitis.
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