55,000 Shares in Gilead Sciences, Inc. (NASDAQ:GILD) Acquired by Resolute Capital Asset Partners LLC

Resolute Capital Asset Partners LLC bought a new stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 55,000 shares of the biopharmaceutical company’s stock, valued at approximately $3,774,000. Gilead Sciences accounts for about 2.2% of Resolute Capital Asset Partners LLC’s investment portfolio, making the stock its 16th biggest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. CarsonAllaria Wealth Management Ltd. raised its stake in Gilead Sciences by 198.3% during the second quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 238 shares during the last quarter. Sachetta LLC acquired a new stake in Gilead Sciences during the 4th quarter worth about $30,000. Palisade Asset Management LLC bought a new position in shares of Gilead Sciences in the 1st quarter worth about $29,000. Frank Rimerman Advisors LLC acquired a new position in shares of Gilead Sciences in the 4th quarter valued at about $36,000. Finally, Fortis Group Advisors LLC boosted its position in shares of Gilead Sciences by 100.0% during the 4th 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 in the last quarter. Institutional investors own 83.67% of the company’s stock.

Gilead Sciences Price Performance

Shares of NASDAQ:GILD opened at $83.89 on Thursday. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $87.86. The company’s 50-day moving average is $76.40 and its 200 day moving average is $71.09. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.95 and a current ratio of 1.14. The company has a market capitalization of $104.51 billion, a P/E ratio of 233.03, a price-to-earnings-growth ratio of 2.80 and a beta of 0.18.

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

Gilead Sciences Dividend Announcement

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

Insiders Place Their Bets

In related news, insider Johanna Mercier sold 29,357 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the sale, the insider now owns 78,127 shares of the company’s stock, valued at approximately $6,545,480.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction on 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 in the company, valued at $6,614,559.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Johanna Mercier sold 29,357 shares of the company’s 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 transaction, the insider now owns 78,127 shares of the company’s stock, valued at $6,545,480.06. 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 over the last 90 days. Corporate insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Evercore ISI raised Gilead Sciences to a “strong-buy” rating in a research note on Friday, August 9th. Royal Bank of Canada boosted their target price on shares of Gilead Sciences from $72.00 to $74.00 and gave the company a “sector perform” rating in a research report on Wednesday, September 4th. 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 report on Monday, July 8th. Robert W. Baird reiterated a “neutral” rating and set a $80.00 price objective on shares of Gilead Sciences in a report on Thursday, June 20th. Finally, Truist Financial raised their target price on Gilead Sciences from $82.00 to $83.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Twelve equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $82.06.

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.