Sierra Summit Advisors LLC Buys New Shares in Gilead Sciences, Inc. (NASDAQ:GILD)

Sierra Summit Advisors LLC purchased a new position in Gilead Sciences, Inc. (NASDAQ:GILD) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,408 shares of the biopharmaceutical company’s stock, valued at approximately $783,000.

Several other institutional investors have also recently made changes to their positions in GILD. CarsonAllaria Wealth Management Ltd. grew its stake 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 valued at $25,000 after acquiring an additional 238 shares during the period. Palisade Asset Management LLC purchased a new position in Gilead Sciences during the first quarter valued at approximately $29,000. Sachetta LLC purchased a new stake in shares of Gilead Sciences in the fourth quarter worth $30,000. Financial Connections Group Inc. bought a new stake in shares of Gilead Sciences during the 2nd quarter valued at $34,000. Finally, Frank Rimerman Advisors LLC purchased a new position in shares of Gilead Sciences during the 4th quarter valued at $36,000. Institutional investors own 83.67% of the company’s stock.

Gilead Sciences Trading Down 0.4 %

Shares of NASDAQ GILD opened at $82.81 on Monday. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year 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 business’s 50 day moving average is $75.48 and its two-hundred day moving average is $70.84. The stock has a market capitalization of $103.10 billion, a P/E ratio of 230.03, a PEG ratio of 2.80 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.40. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. The firm 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 EPS for the current year.

Gilead Sciences Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 3.72%. The ex-dividend date is Friday, September 13th. Gilead Sciences’s dividend payout ratio is currently 855.56%.

Insider Transactions at Gilead Sciences

In related news, insider Johanna Mercier sold 29,357 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 78,127 shares in the company, valued at approximately $6,545,480.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Gilead Sciences news, insider Johanna Mercier sold 29,357 shares of the company’s stock in a transaction 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 owns 78,127 shares of the company’s stock, valued at approximately $6,545,480.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction on 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 owns 96,380 shares of the company’s stock, valued at $6,614,559.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,847 shares of company stock worth $3,002,940. 0.16% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

GILD has been the topic of a number of recent analyst reports. Robert W. Baird reissued a “neutral” rating and set a $80.00 price target on shares of Gilead Sciences in a report on Thursday, June 20th. Cantor Fitzgerald reissued a “neutral” rating and issued a $70.00 price target on shares of Gilead Sciences in a report on Monday, September 9th. Evercore ISI raised shares of Gilead Sciences to a “strong-buy” rating in a report on Friday, August 9th. Piper Sandler reissued an “overweight” rating and issued a $95.00 target price on shares of Gilead Sciences in a report on Wednesday, September 11th. Finally, BMO Capital Markets upped 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 investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $82.06.

About Gilead Sciences

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.