Profund Advisors LLC Increases Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Profund Advisors LLC increased its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 23.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 159,400 shares of the biopharmaceutical company’s stock after buying an additional 30,738 shares during the quarter. Profund Advisors LLC’s holdings in Gilead Sciences were worth $10,936,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. CarsonAllaria Wealth Management Ltd. raised its holdings in shares of Gilead Sciences by 198.3% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 238 shares during the last quarter. Palisade Asset Management LLC bought a new stake in Gilead Sciences in the 1st quarter worth about $29,000. Cedar Wealth Management LLC increased its stake in Gilead Sciences by 51.6% in the 2nd quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 160 shares during the last quarter. Financial Connections Group Inc. bought a new position in shares of Gilead Sciences during the 2nd quarter worth approximately $34,000. Finally, Frank Rimerman Advisors LLC purchased a new position in shares of Gilead Sciences in the 4th quarter worth approximately $36,000. 83.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Robert W. Baird reiterated a “neutral” rating and set a $80.00 price target on shares of Gilead Sciences in a report on Thursday, June 20th. 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 research note on Monday, July 8th. Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a research note on Thursday, August 15th. BMO Capital Markets raised their target price on Gilead Sciences from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Finally, Royal Bank of Canada upped their price target 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. Twelve investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $82.06.

Insider Buying and Selling at Gilead Sciences

In other news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction dated 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 owns 96,380 shares of the company’s stock, valued at $6,614,559.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences 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 sale, the insider now directly owns 96,380 shares of the company’s stock, valued at approximately $6,614,559.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Johanna Mercier sold 5,490 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total transaction of $406,150.20. Following the completion of the transaction, the insider now owns 114,979 shares of the company’s stock, valued at $8,506,146.42. The disclosure for this sale can be found here. Insiders have sold a total of 36,847 shares of company stock valued at $3,002,940 in the last 90 days. Corporate insiders own 0.16% of the company’s stock.

Gilead Sciences Price Performance

GILD stock opened at $83.94 on Friday. The firm has a 50 day moving average of $76.95 and a 200-day moving average of $71.25. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $104.58 billion, a P/E ratio of 233.17, 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.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 EPS for the quarter, beating the consensus estimate of $1.61 by $0.40. The firm had revenue of $6.95 billion during the quarter, compared to the consensus estimate of $6.64 billion. Gilead Sciences had a net margin of 3.79% and a return on equity of 29.34%. As a group, sell-side analysts predict that Gilead Sciences, Inc. will post 3.78 earnings per share for the current fiscal 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 paid 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 dividend payout ratio is currently 855.56%.

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.