Belpointe Asset Management LLC Increases Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Belpointe Asset Management LLC raised its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 19.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,143 shares of the biopharmaceutical company’s stock after buying an additional 2,137 shares during the period. Belpointe Asset Management LLC’s holdings in Gilead Sciences were worth $902,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Gilead Sciences by 2.6% in the first 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 during the last quarter. Capital World Investors lifted its position in Gilead Sciences by 1.4% in the 1st quarter. Capital World Investors now owns 84,497,404 shares of the biopharmaceutical company’s stock worth $6,189,435,000 after buying an additional 1,133,281 shares during the last quarter. Capital Research Global Investors boosted its stake in Gilead Sciences by 2.7% in the first 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. Wellington Management Group LLP grew its position in Gilead Sciences by 14.4% during the fourth quarter. Wellington Management Group LLP now owns 18,630,134 shares of the biopharmaceutical company’s stock valued at $1,509,227,000 after acquiring an additional 2,350,550 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Gilead Sciences during the fourth quarter worth approximately $1,301,624,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on GILD shares. Raymond James upgraded shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price target for the company in a research report on Monday, July 8th. Cantor Fitzgerald restated a “neutral” rating and issued a $70.00 target price on shares of Gilead Sciences in a report on Friday, August 9th. Evercore ISI upgraded shares of Gilead Sciences to a “strong-buy” rating in a report on Friday, August 9th. Royal Bank of Canada raised their price target on shares of Gilead Sciences from $72.00 to $74.00 and gave the stock a “sector perform” rating in a report on Wednesday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a report on Thursday, August 15th. Twelve analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Gilead Sciences presently has an average rating of “Moderate Buy” and a consensus target price of $82.06.

Insider Transactions at Gilead Sciences

In related news, insider Johanna Mercier sold 5,490 shares of Gilead Sciences stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total value of $406,150.20. Following the completion of the sale, the insider now directly owns 114,979 shares in the company, valued at approximately $8,506,146.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $68.63, for a total transaction of $137,260.00. Following the transaction, the insider now directly owns 96,380 shares of the company’s stock, valued at approximately $6,614,559.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Johanna Mercier sold 5,490 shares of Gilead Sciences stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total value of $406,150.20. Following the completion of the sale, the insider now directly owns 114,979 shares of the company’s stock, valued at approximately $8,506,146.42. The disclosure for this sale can be found here. Company insiders own 0.16% of the company’s stock.

Gilead Sciences Trading Down 0.5 %

NASDAQ GILD opened at $78.77 on Friday. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $87.86. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 1.18. The stock’s fifty day moving average price is $73.86 and its 200-day moving average price is $70.52. The stock has a market cap of $98.14 billion, a P/E ratio of 218.81, a P/E/G ratio of 2.74 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $2.01 EPS for the quarter, beating the consensus estimate of $1.61 by $0.40. The company had revenue of $6.95 billion for the quarter, compared to the consensus estimate of $6.64 billion. Gilead Sciences had a net margin of 3.79% and a return on equity of 29.34%. As a group, equities analysts forecast that Gilead Sciences, Inc. will post 3.78 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 3.91%. The ex-dividend date is Friday, September 13th. Gilead Sciences’s dividend payout ratio is currently 855.56%.

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.