Cedar Wealth Management LLC Purchases 160 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Cedar Wealth Management LLC increased its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 51.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 470 shares of the biopharmaceutical company’s stock after purchasing an additional 160 shares during the period. Cedar Wealth Management LLC’s holdings in Gilead Sciences were worth $32,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. CarsonAllaria Wealth Management Ltd. raised its holdings in Gilead Sciences by 198.3% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 238 shares during the period. Palisade Asset Management LLC purchased a new stake in shares of Gilead Sciences in the first quarter valued at $29,000. Sachetta LLC bought a new stake in shares of Gilead Sciences in the 4th quarter worth about $30,000. Financial Connections Group Inc. purchased a new position in shares of Gilead Sciences during the 2nd quarter worth about $34,000. Finally, Frank Rimerman Advisors LLC bought a new position in Gilead Sciences during the 4th quarter valued at about $36,000. Institutional investors own 83.67% of the company’s stock.

Gilead Sciences Stock Up 0.0 %

GILD stock opened at $83.90 on Friday. The company has a market capitalization of $104.53 billion, a P/E ratio of 233.06, a price-to-earnings-growth 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 fifty day simple moving average is $76.67 and its 200-day simple moving average is $71.18. 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 posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $6.64 billion. As a group, 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 declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a $0.77 dividend. 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%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Robert W. Baird reaffirmed a “neutral” rating and issued a $80.00 price objective on shares of Gilead Sciences in a research report on Thursday, June 20th. Evercore ISI raised shares of Gilead Sciences to a “strong-buy” rating in a research note on Friday, August 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research note on Thursday, August 15th. Piper Sandler reissued an “overweight” rating and issued a $95.00 price objective on shares of Gilead Sciences in a research note on Wednesday, September 11th. Finally, Raymond James raised Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 target price for the company in a research report on Monday, July 8th. Twelve equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $82.06.

Insiders Place Their Bets

In other Gilead Sciences 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 transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, 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 the SEC website. Also, insider Johanna Mercier sold 29,357 shares of the company’s stock in a transaction on 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 directly owns 78,127 shares of the company’s stock, valued at approximately $6,545,480.06. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,847 shares of company stock worth $3,002,940. 0.16% of the stock is owned by corporate insiders.

About Gilead Sciences

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.