Seven Eight Capital LP Invests $525,000 in Gilead Sciences, Inc. (NASDAQ:GILD)

Seven Eight Capital LP acquired a new position in Gilead Sciences, Inc. (NASDAQ:GILD) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 7,645 shares of the biopharmaceutical company’s stock, valued at approximately $525,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Mondrian Investment Partners LTD increased its stake in shares of Gilead Sciences by 4.9% in the second quarter. Mondrian Investment Partners LTD now owns 12,173 shares of the biopharmaceutical company’s stock worth $926,000 after purchasing an additional 568 shares in the last quarter. Blair William & Co. IL grew its stake in Gilead Sciences by 1.7% during the second quarter. Blair William & Co. IL now owns 425,559 shares of the biopharmaceutical company’s stock valued at $29,198,000 after acquiring an additional 7,082 shares in the last quarter. Elkhorn Partners Limited Partnership increased its holdings in Gilead Sciences by 494.7% in the 2nd quarter. Elkhorn Partners Limited Partnership now owns 5,650 shares of the biopharmaceutical company’s stock valued at $388,000 after acquiring an additional 4,700 shares during the last quarter. E Fund Management Co. Ltd. increased its holdings in Gilead Sciences by 58.8% in the 2nd quarter. E Fund Management Co. Ltd. now owns 32,444 shares of the biopharmaceutical company’s stock valued at $2,226,000 after acquiring an additional 12,018 shares during the last quarter. Finally, Wealth Alliance increased its holdings in Gilead Sciences by 40.3% in the 2nd quarter. Wealth Alliance now owns 19,905 shares of the biopharmaceutical company’s stock valued at $1,366,000 after acquiring an additional 5,716 shares during the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GILD has been the topic of a number of research reports. Truist Financial lifted their price target on shares of Gilead Sciences from $82.00 to $83.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Raymond James upgraded shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price target on the stock in a report on Monday, July 8th. BMO Capital Markets lifted their price target on shares of Gilead Sciences from $80.00 to $85.00 and gave the company an “outperform” rating 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. Finally, Robert W. Baird restated a “neutral” rating and issued a $80.00 target price on shares of Gilead Sciences in a report on Thursday, June 20th. Twelve investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.06.

Gilead Sciences Stock Performance

Shares of NASDAQ:GILD opened at $83.94 on Friday. The company has a market capitalization of $104.58 billion, a price-to-earnings ratio of 233.17, a PEG ratio of 2.80 and a beta of 0.18. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $87.86. The firm’s 50-day moving average is $76.95 and its 200 day moving average is $71.25. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 1.18.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results 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%. Research analysts predict that Gilead Sciences, Inc. will post 3.78 EPS for the current year.

Gilead Sciences Announces Dividend

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

Insider Activity at Gilead Sciences

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the business’s 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 sale, 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 filing with the SEC, which is available through this link. In other Gilead Sciences news, insider Johanna Mercier sold 5,490 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were 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 transaction was disclosed in a filing with the SEC, 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 shares were sold at an average price of $68.63, for a total transaction of $137,260.00. Following the completion of the sale, the insider now directly owns 96,380 shares of the company’s stock, valued at $6,614,559.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 36,847 shares of company stock worth $3,002,940. Insiders own 0.16% of the company’s stock.

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.