Resources Management Corp CT ADV Sells 1,756 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Resources Management Corp CT ADV lessened its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 6.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,631 shares of the biopharmaceutical company’s stock after selling 1,756 shares during the period. Resources Management Corp CT ADV’s holdings in Gilead Sciences were worth $1,621,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CarsonAllaria Wealth Management Ltd. increased its position in Gilead Sciences by 198.3% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 238 shares in the last quarter. Palisade Asset Management LLC bought a new position in Gilead Sciences during the 1st quarter valued at approximately $29,000. Frank Rimerman Advisors LLC bought a new position in Gilead Sciences during the 4th quarter valued at approximately $36,000. Cedar Wealth Management LLC increased its position in Gilead Sciences by 51.6% during 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. Finally, Fortis Group Advisors LLC increased its holdings in shares of Gilead Sciences by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 492 shares of the biopharmaceutical company’s stock worth $40,000 after purchasing an additional 246 shares in the last quarter. Institutional investors own 83.67% of the company’s stock.

Insider Buying and Selling at Gilead Sciences

In other news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $68.63, for a total value of $137,260.00. Following the sale, the insider now directly 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 at the SEC website. In other news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $68.63, for a total value of $137,260.00. Following the sale, the insider now directly 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 at the SEC website. Also, insider Johanna Mercier sold 29,357 shares of Gilead Sciences stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $83.78, for a total value of $2,459,529.46. Following the completion of the sale, the insider now directly owns 78,127 shares in the company, valued at $6,545,480.06. 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 over the last ninety days. 0.16% of the stock is currently owned by company insiders.

Gilead Sciences Price Performance

NASDAQ:GILD opened at $83.99 on Tuesday. 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 business’s 50-day simple moving average is $77.22 and its two-hundred day simple moving average is $71.31. The stock has a market cap of $104.64 billion, a PE ratio of 233.31, a P/E/G 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 quarterly 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. The business had revenue of $6.95 billion for the quarter, compared to analysts’ expectations of $6.64 billion. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. As a group, analysts forecast that Gilead Sciences, Inc. will post 3.78 EPS 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. Shareholders of record on Friday, September 13th will be issued a dividend of $0.77 per share. The ex-dividend date of this dividend 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 presently 855.56%.

Wall Street Analyst Weigh In

A number of research firms have commented on GILD. Robert W. Baird reissued a “neutral” rating and issued a $80.00 target price on shares of Gilead Sciences in a report on Thursday, June 20th. Raymond James raised Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 target price for the company in a report on Monday, July 8th. Royal Bank of Canada lifted their target price on Gilead Sciences from $72.00 to $74.00 and gave the stock a “sector perform” rating in a report on Wednesday, September 4th. Evercore ISI raised Gilead Sciences to a “strong-buy” rating in a report on Friday, August 9th. Finally, Truist Financial lifted their target price on Gilead Sciences from $82.00 to $83.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Twelve analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently 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.