Steel Grove Capital Advisors LLC Has $1.74 Million Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Steel Grove Capital Advisors LLC increased its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 4.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,390 shares of the biopharmaceutical company’s stock after acquiring an additional 1,002 shares during the quarter. Steel Grove Capital Advisors LLC’s holdings in Gilead Sciences were worth $1,742,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in GILD. CarsonAllaria Wealth Management Ltd. increased its holdings in shares of Gilead Sciences by 198.3% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 238 shares during the last quarter. Palisade Asset Management LLC acquired a new position in Gilead Sciences in the 1st quarter valued at $29,000. Cedar Wealth Management LLC grew its holdings 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 in the last quarter. Financial Connections Group Inc. acquired a new position in Gilead Sciences in the 2nd quarter valued at $34,000. Finally, Frank Rimerman Advisors LLC acquired a new position in Gilead Sciences in the 4th quarter valued at $36,000. 83.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GILD has been the topic of a number of analyst reports. Evercore ISI upgraded shares of Gilead Sciences to a “strong-buy” rating in a research report on Friday, August 9th. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a research report on Thursday, August 15th. Raymond James upgraded shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 target price on the stock in a research report on Monday, July 8th. Cantor Fitzgerald restated a “neutral” rating and set a $70.00 target price on shares of Gilead Sciences in a research report on Monday, September 16th. Finally, BMO Capital Markets increased their target price on shares of Gilead Sciences from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Twelve research 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, Gilead Sciences currently has an average rating of “Moderate Buy” and an average target price of $82.06.

Insider Activity

In other news, insider Johanna Mercier sold 29,357 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now owns 78,127 shares of the company’s stock, valued at $6,545,480.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related 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 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 is available through this link. Also, insider Johanna Mercier sold 29,357 shares of Gilead Sciences stock in a transaction 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 completion of the sale, the insider now directly owns 78,127 shares of the company’s stock, valued at $6,545,480.06. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,847 shares of company stock valued at $3,002,940. Insiders own 0.16% of the company’s stock.

Gilead Sciences Stock Performance

Shares of Gilead Sciences stock opened at $83.94 on Monday. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $87.86. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.14 and a quick ratio of 0.95. The firm 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 price is $76.95 and its two-hundred day moving average price is $71.24.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.40. The firm had revenue of $6.95 billion for the quarter, compared to analyst estimates of $6.64 billion. Gilead Sciences had a net margin of 3.79% and a return on equity of 29.34%. On average, equities analysts forecast that Gilead Sciences, Inc. will post 3.78 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

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 paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend is Friday, September 13th. Gilead Sciences’s payout ratio is currently 855.56%.

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.