Frank Rimerman Advisors LLC Acquires 29,185 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Frank Rimerman Advisors LLC increased its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 4,496.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,834 shares of the biopharmaceutical company’s stock after purchasing an additional 29,185 shares during the period. Frank Rimerman Advisors LLC’s holdings in Gilead Sciences were worth $2,047,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. The Manufacturers Life Insurance Company raised its position in shares of Gilead Sciences by 78.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 7,632,000 shares of the biopharmaceutical company’s stock valued at $618,268,000 after buying an additional 3,362,505 shares in the last quarter. Vanguard Group Inc. raised its position in Gilead Sciences by 2.6% during the first quarter. Vanguard Group Inc. now owns 114,732,575 shares of the biopharmaceutical company’s stock valued at $8,404,161,000 after purchasing an additional 2,910,147 shares in the last quarter. Wellington Management Group LLP raised its position in Gilead Sciences by 14.4% during the fourth quarter. Wellington Management Group LLP now owns 18,630,134 shares of the biopharmaceutical company’s stock valued at $1,509,227,000 after purchasing an additional 2,350,550 shares in the last quarter. Swedbank AB bought a new stake in Gilead Sciences during the first quarter worth about $134,489,000. Finally, Capital Research Global Investors boosted its holdings in shares of Gilead Sciences by 3.0% in the 4th quarter. Capital Research Global Investors now owns 59,657,126 shares of the biopharmaceutical company’s stock worth $4,832,824,000 after purchasing an additional 1,743,418 shares in the last quarter. 83.67% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Merdad Parsey sold 2,000 shares of the 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 transaction, the insider now directly owns 96,380 shares in the company, valued at approximately $6,614,559.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the company’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 sale, the insider now owns 96,380 shares in the company, valued at $6,614,559.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Johanna Mercier sold 29,357 shares of Gilead Sciences stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following 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. In the last 90 days, insiders have sold 36,847 shares of company stock worth $3,002,940. Corporate insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on GILD shares. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a research report on Thursday, August 15th. Robert W. Baird reaffirmed a “neutral” rating and issued a $80.00 price objective on shares of Gilead Sciences in a research note on Thursday, June 20th. Evercore ISI upgraded shares of Gilead Sciences to a “strong-buy” rating in a research report on Friday, August 9th. Truist Financial upped their price target on shares of Gilead Sciences from $82.00 to $83.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Finally, BMO Capital Markets raised their price objective on Gilead Sciences from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Twelve 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.06.

Gilead Sciences Price Performance

Shares of NASDAQ GILD opened at $83.94 on Friday. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $87.86. The stock has a market capitalization of $104.58 billion, a P/E ratio of 233.17, a P/E/G ratio of 2.80 and a beta of 0.18. The company’s 50-day moving average is $76.95 and its 200 day moving average is $71.25. 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 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $6.64 billion. On average, sell-side analysts expect that Gilead Sciences, Inc. will post 3.78 earnings per share for the current year.

Gilead Sciences Dividend Announcement

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

Gilead Sciences Company 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.