Ieq Capital LLC Grows Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Ieq Capital LLC grew its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 3.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 69,215 shares of the biopharmaceutical company’s stock after acquiring an additional 2,453 shares during the quarter. Ieq Capital LLC’s holdings in Gilead Sciences were worth $4,749,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. CarsonAllaria Wealth Management Ltd. increased its position in shares of Gilead Sciences by 198.3% during the second 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 bought a new position in Gilead Sciences in the 1st quarter valued at $29,000. Frank Rimerman Advisors LLC bought a new position in Gilead Sciences in the 4th quarter valued at $36,000. Fortis Group Advisors LLC increased 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 during the last quarter. Finally, Pingora Partners LLC bought a new stake in shares of Gilead Sciences during the 4th quarter worth $41,000. 83.67% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Gilead Sciences

In related 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 value of $137,260.00. Following the sale, the insider now 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 is available at this link. In related news, insider Johanna Mercier sold 5,490 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total value of $406,150.20. Following the sale, the insider now directly owns 114,979 shares of the company’s stock, valued at $8,506,146.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 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 sold a total of 36,847 shares of company stock valued at $3,002,940 in the last three months. Company insiders own 0.16% of the company’s stock.

Gilead Sciences Stock Performance

Shares of GILD opened at $83.94 on Friday. Gilead Sciences, Inc. has a 52-week low of $62.07 and a 52-week high of $87.86. The stock’s 50-day simple moving average is $76.95 and its 200 day simple moving average is $71.26. 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 stock has a market capitalization of $104.58 billion, a price-to-earnings ratio of 233.17, a price-to-earnings-growth ratio of 2.80 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $6.64 billion. Research analysts forecast that Gilead Sciences, Inc. will post 3.78 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on GILD shares. Piper Sandler restated an “overweight” rating and set a $95.00 price target on shares of Gilead Sciences in a research report on Wednesday, September 11th. Royal Bank of Canada increased 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. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a research note on Thursday, August 15th. Raymond James upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price objective on the stock in a research note on Monday, July 8th. Finally, Evercore ISI raised Gilead Sciences to a “strong-buy” rating in a research report on Friday, August 9th. Twelve research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.06.

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.