Profund Advisors LLC Acquires 30,738 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Profund Advisors LLC boosted its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 23.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 159,400 shares of the biopharmaceutical company’s stock after purchasing an additional 30,738 shares during the period. Profund Advisors LLC’s holdings in Gilead Sciences were worth $10,936,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in GILD. CarsonAllaria Wealth Management Ltd. lifted its stake in shares of Gilead Sciences by 198.3% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 238 shares during the last quarter. Palisade Asset Management LLC purchased a new position in Gilead Sciences in the 1st quarter worth approximately $29,000. Frank Rimerman Advisors LLC purchased a new position in Gilead Sciences in the 4th quarter worth approximately $36,000. Cedar Wealth Management LLC lifted its position in Gilead Sciences by 51.6% in the second quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 160 shares during the last quarter. Finally, Fortis Group Advisors LLC boosted its stake in shares of Gilead Sciences by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 492 shares of the biopharmaceutical company’s stock valued at $40,000 after purchasing an additional 246 shares during the period. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GILD has been the topic of several analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $95.00 target price on shares of Gilead Sciences in a research note on Wednesday, September 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research note on Thursday, August 15th. BMO Capital Markets increased their target price on shares of Gilead Sciences from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Truist Financial boosted their price target on Gilead Sciences from $82.00 to $83.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $80.00 price objective on shares of Gilead Sciences in a research report on Thursday, June 20th. Twelve equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.06.

Insider Buying and Selling

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $68.63, for a total value of $137,260.00. Following the completion of the transaction, the insider now directly owns 96,380 shares of the company’s stock, valued at $6,614,559.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Johanna Mercier sold 29,357 shares of Gilead Sciences stock in a transaction dated 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 completion of the sale, the insider now directly owns 78,127 shares in the company, valued at approximately $6,545,480.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $68.63, for a total value of $137,260.00. Following the completion of the transaction, the insider now directly owns 96,380 shares of the company’s stock, valued at approximately $6,614,559.40. The disclosure for this sale can be found here. Insiders have sold a total of 36,847 shares of company stock worth $3,002,940 in the last quarter. Corporate insiders own 0.16% of the company’s stock.

Gilead Sciences Stock Up 0.0 %

NASDAQ:GILD opened at $83.94 on Friday. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $87.86. The company has a market capitalization of $104.58 billion, a PE ratio of 233.17, a P/E/G ratio of 2.80 and a beta of 0.18. The firm’s 50-day moving average price is $76.95 and its 200-day moving average price is $71.25. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.14 and a quick ratio of 0.95.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.40. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. The firm had revenue of $6.95 billion for the quarter, compared to analysts’ expectations of $6.64 billion. On average, equities analysts predict that Gilead Sciences, Inc. will post 3.78 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 3.67%. The ex-dividend date is Friday, September 13th. Gilead Sciences’s dividend payout ratio is presently 855.56%.

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.