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

Summit Trail Advisors LLC lifted its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 37.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,105 shares of the biopharmaceutical company’s stock after purchasing an additional 4,683 shares during the period. Summit Trail Advisors LLC’s holdings in Gilead Sciences were worth $1,174,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Manning & Napier Advisors LLC bought a new stake in shares of Gilead Sciences in the 2nd quarter worth about $25,328,000. Eagle Asset Management Inc. grew its holdings in Gilead Sciences by 23.6% in the fourth quarter. Eagle Asset Management Inc. now owns 317,539 shares of the biopharmaceutical company’s stock worth $25,724,000 after purchasing an additional 60,697 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in Gilead Sciences in the first quarter valued at about $462,000. Brookstone Capital Management boosted its stake in Gilead Sciences by 751.1% in the 1st quarter. Brookstone Capital Management now owns 127,258 shares of the biopharmaceutical company’s stock worth $9,322,000 after purchasing an additional 112,305 shares in the last quarter. Finally, Comerica Bank increased its position in shares of Gilead Sciences by 10.7% in the 4th quarter. Comerica Bank now owns 329,990 shares of the biopharmaceutical company’s stock valued at $26,733,000 after acquiring an additional 31,849 shares during the period. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Gilead Sciences Stock Up 0.0 %

Shares of NASDAQ:GILD opened at $83.94 on Friday. The firm has a 50 day simple moving average of $76.95 and a 200 day simple moving average of $71.25. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.95 and a current ratio of 1.14. Gilead Sciences, Inc. has a 52 week low of $62.07 and a 52 week high of $87.86. The company has a market cap of $104.58 billion, a PE ratio of 233.17, a price-to-earnings-growth ratio of 2.80 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly 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 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. As a group, research analysts expect 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. Stockholders of record on Friday, September 13th will be issued a dividend of $0.77 per share. The ex-dividend date is Friday, September 13th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.67%. Gilead Sciences’s dividend payout ratio (DPR) is presently 855.56%.

Insiders Place Their Bets

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction 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 sale, 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 Securities & Exchange Commission, which is available at this link. In other 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 transaction 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 through the SEC website. Also, insider Johanna Mercier sold 5,490 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total transaction of $406,150.20. Following the sale, the insider now directly owns 114,979 shares in the company, valued at $8,506,146.42. The disclosure for this sale can be found here. Insiders have sold 36,847 shares of company stock worth $3,002,940 in the last ninety days. Insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

GILD has been the topic of several recent research reports. Royal Bank of Canada upped their price target on shares of Gilead Sciences from $72.00 to $74.00 and gave the company a “sector perform” rating in a report on Wednesday, September 4th. Piper Sandler reiterated an “overweight” rating and issued a $95.00 target price on shares of Gilead Sciences in a research report on Wednesday, September 11th. 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. BMO Capital Markets lifted their price target on shares of Gilead Sciences from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Finally, Truist Financial lifted 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. Twelve research 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.06.

Gilead Sciences 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.