MQS Management LLC Increases Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

MQS Management LLC lifted its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 33.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,573 shares of the biopharmaceutical company’s stock after buying an additional 1,157 shares during the quarter. MQS Management LLC’s holdings in Gilead Sciences were worth $314,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CarsonAllaria Wealth Management Ltd. lifted its stake in Gilead Sciences by 198.3% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 238 shares in the last quarter. Palisade Asset Management LLC purchased a new stake in shares of Gilead Sciences in the first quarter worth about $29,000. Financial Connections Group Inc. purchased a new stake in shares of Gilead Sciences in the second quarter worth about $34,000. Frank Rimerman Advisors LLC bought a new position in Gilead Sciences during the fourth quarter valued at approximately $36,000. Finally, Fortis Group Advisors LLC grew its holdings in 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 buying an additional 246 shares in the last quarter. Institutional investors own 83.67% of the company’s stock.

Gilead Sciences Trading Up 0.0 %

GILD opened at $83.94 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 1.18. The stock’s fifty day moving average is $76.95 and its two-hundred day moving average is $71.26. The company has a market capitalization of $104.58 billion, a P/E ratio of 233.17, a PEG ratio of 2.80 and a beta of 0.18. Gilead Sciences, Inc. has a 52 week low of $62.07 and a 52 week high of $87.86.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 EPS 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 business had revenue of $6.95 billion for the quarter, compared to the consensus estimate of $6.64 billion. Analysts forecast that Gilead Sciences, Inc. will post 3.78 earnings per share for the current year.

Gilead Sciences Announces Dividend

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

Insiders Place Their Bets

In other news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction that occurred 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 transaction, the insider now owns 96,380 shares of the company’s stock, valued at approximately $6,614,559.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 96,380 shares in the company, valued at $6,614,559.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Johanna Mercier sold 29,357 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total value 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,847 shares of company stock worth $3,002,940. 0.16% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on GILD shares. Royal Bank of Canada increased their target price on 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 objective 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 Monday, September 16th. Piper Sandler reaffirmed an “overweight” rating and issued a $95.00 price target on shares of Gilead Sciences in a report on Wednesday, September 11th. Finally, Robert W. Baird reissued a “neutral” rating and set a $80.00 price objective on shares of Gilead Sciences in a research note on Thursday, June 20th. Twelve investment 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 stock. According to MarketBeat, the company 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.