Wealth Alliance Has $1.37 Million Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Wealth Alliance grew its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 40.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,905 shares of the biopharmaceutical company’s stock after buying an additional 5,716 shares during the quarter. Wealth Alliance’s holdings in Gilead Sciences were worth $1,366,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. CarsonAllaria Wealth Management Ltd. boosted its holdings in 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 acquiring an additional 238 shares during the last quarter. Palisade Asset Management LLC bought a new position in Gilead Sciences in the first quarter valued at about $29,000. Sachetta LLC bought a new position in Gilead Sciences in the fourth quarter valued at about $30,000. Financial Connections Group Inc. bought a new position in Gilead Sciences in the second quarter valued at about $34,000. Finally, Frank Rimerman Advisors LLC bought a new position in Gilead Sciences in the fourth quarter valued at about $36,000. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Gilead Sciences Stock Down 0.1 %

Shares of Gilead Sciences stock opened at $83.05 on Wednesday. The business’s 50 day simple moving average is $76.09 and its 200 day simple moving average is $71.00. Gilead Sciences, Inc. has a 52-week low of $62.07 and a 52-week high of $87.86. The firm has a market cap of $103.47 billion, a PE ratio of 230.69, a P/E/G ratio of 2.80 and a beta of 0.18. 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 (NASDAQ:GILD) last announced its earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.40. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. The business had revenue of $6.95 billion for the quarter, compared to analyst estimates of $6.64 billion. On average, analysts predict that Gilead Sciences, Inc. will post 3.78 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date is Friday, September 13th. Gilead Sciences’s dividend payout ratio is presently 855.56%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GILD. BMO Capital Markets raised their price target on Gilead Sciences from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Truist Financial raised 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. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a report on Thursday, August 15th. Cantor Fitzgerald restated a “neutral” rating and set a $70.00 target price on shares of Gilead Sciences in a report on Monday. Finally, Raymond James upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 target price on the stock in a report on Monday, July 8th. Twelve investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Gilead Sciences has a consensus rating of “Moderate Buy” and an average price target of $82.06.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now 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 can be accessed through the SEC website. In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now 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 can be accessed through the SEC website. Also, insider Johanna Mercier sold 29,357 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 78,127 shares in the company, valued at approximately $6,545,480.06. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,847 shares of company stock valued at $3,002,940. 0.16% of the stock is owned by insiders.

Gilead Sciences Company 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.