Strategic Global Advisors LLC Acquires Shares of 17,586 Gilead Sciences, Inc. $GILD

Key Points

• Strategic Global Advisors acquired 17,586 Gilead Sciences shares during the second quarter, valued at approximately $2.22 million. Institutional investors collectively own 83.67% of the company.
• Analyst sentiment remains generally positive, with a “Moderate Buy” consensus and an average price target of $158.04, although some firms recently lowered targets or downgraded the stock.
• Gilead reported quarterly revenue of $7.80 billion, exceeding estimates, while earnings beat expectations despite a loss for the quarter. The company also declared a quarterly dividend of $0.82 per share, yielding about 2.2% annually.

Strategic Global Advisors LLC acquired a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 17,586 shares of the biopharmaceutical company's stock, valued at approximately $2,222,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Paulson Wealth Management Inc. grew its position in Gilead Sciences by 1.8% in the 4th quarter. Paulson Wealth Management Inc. now owns 3,887 shares of the biopharmaceutical company's stock worth $477,000 after purchasing an additional 67 shares in the last quarter. Essex Financial Services Inc. lifted its position in shares of Gilead Sciences by 0.9% during the 4th quarter. Essex Financial Services Inc. now owns 7,724 shares of the biopharmaceutical company's stock worth $948,000 after buying an additional 71 shares in the last quarter. Davidson Trust Co. boosted its stake in shares of Gilead Sciences by 4.1% in the 1st quarter. Davidson Trust Co. now owns 1,879 shares of the biopharmaceutical company's stock worth $262,000 after buying an additional 74 shares during the last quarter. Alpha Cubed Investments LLC boosted its stake in shares of Gilead Sciences by 1.1% in the 4th quarter. Alpha Cubed Investments LLC now owns 6,619 shares of the biopharmaceutical company's stock worth $812,000 after buying an additional 75 shares during the last quarter. Finally, Financial Connections Group Inc. grew its holdings in shares of Gilead Sciences by 30.2% in the first quarter. Financial Connections Group Inc. now owns 328 shares of the biopharmaceutical company's stock valued at $45,000 after acquiring an additional 76 shares in the last quarter. Hedge funds and other institutional investors own 83.67% of the company's stock.

Insider Transactions at Gilead Sciences

In other news, insider Johanna Mercier sold 28,000 shares of Gilead Sciences stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $137.64, for a total value of $3,853,920.00. Following the completion of the transaction, the insider owned 118,234 shares in the company, valued at $16,273,727.76. This trade represents a 19.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jeffrey Bluestone sold 5,000 shares of the business's stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $145.02, for a total transaction of $725,100.00. Following the completion of the sale, the director directly owned 10,066 shares in the company, valued at approximately $1,459,771.32. This trade represents a 33.19% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 87,000 shares of company stock valued at $11,562,960. 0.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently commented on GILD shares. Royal Bank Of Canada lifted their price target on Gilead Sciences from $120.00 to $123.00 and gave the stock a "sector perform" rating in a report on Wednesday, August 5th. Wall Street Zen upgraded Gilead Sciences from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th. Truist Financial lowered their target price on Gilead Sciences from $157.00 to $156.00 and set a "buy" rating on the stock in a research note on Tuesday, July 7th. Leerink Partners lowered shares of Gilead Sciences from an "outperform" rating to a "market perform" rating and reduced their price target for the company from $146.00 to $127.00 in a research report on Tuesday, July 21st. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $155.00 price target on shares of Gilead Sciences in a research report on Wednesday, August 5th. Twenty-four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $158.04.

Gilead Sciences Price Performance

Shares of NASDAQ GILD opened at $148.09 on Thursday. The company has a current ratio of 1.27, a quick ratio of 1.09 and a debt-to-equity ratio of 2.03. The stock has a fifty day simple moving average of $133.31 and a two-hundred day simple moving average of $136.58. Gilead Sciences, Inc. has a 1-year low of $108.46 and a 1-year high of $157.29. The firm has a market cap of $183.62 billion, a price-to-earnings ratio of -55.46 and a beta of 0.32.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its earnings results on Monday, August 3rd. The biopharmaceutical company reported ($6.75) earnings per share (EPS) for the quarter, beating the consensus estimate of ($7.25) by $0.50. Gilead Sciences had a negative return on equity of 2.11% and a negative net margin of 10.64%.The firm had revenue of $7.80 billion for the quarter, compared to analyst estimates of $7.40 billion. During the same period in the previous year, the company posted $2.01 earnings per share. The business's revenue was up 10.6% on a year-over-year basis. Analysts anticipate that Gilead Sciences, Inc. will post -0.5 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be issued a $0.82 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $3.28 annualized dividend and a yield of 2.2%. Gilead Sciences's dividend payout ratio (DPR) is -122.85%.

About Gilead Sciences

Gilead Sciences, Inc, founded in 1987 and headquartered in Foster City, California, is a biopharmaceutical company focused on the discovery, development and commercialization of medicines in areas of high unmet medical need. The company initially built its reputation in antiviral therapies and has since expanded into oncology, cell therapy and inflammatory diseases. Gilead operates a global research and commercial organization, conducting clinical development and selling medicines in markets around the world.

Gilead's product portfolio is anchored by antiviral therapies for HIV and viral hepatitis.

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