Stablepoint Partners LLC Purchases 3,201 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Stablepoint Partners LLC grew its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 13.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 27,367 shares of the biopharmaceutical company’s stock after buying an additional 3,201 shares during the quarter. Stablepoint Partners LLC’s holdings in Gilead Sciences were worth $1,878,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Norges Bank bought a new stake in Gilead Sciences during the fourth quarter valued at about $1,301,624,000. The Manufacturers Life Insurance Company grew its stake in Gilead Sciences by 78.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 7,632,000 shares of the biopharmaceutical company’s stock valued at $618,268,000 after purchasing an additional 3,362,505 shares during the last quarter. Vanguard Group Inc. raised its stake in Gilead Sciences by 2.6% in the first quarter. Vanguard Group Inc. now owns 114,732,575 shares of the biopharmaceutical company’s stock valued at $8,404,161,000 after buying an additional 2,910,147 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Gilead Sciences by 14.4% during the fourth quarter. Wellington Management Group LLP now owns 18,630,134 shares of the biopharmaceutical company’s stock worth $1,509,227,000 after buying an additional 2,350,550 shares during the period. Finally, Swedbank AB acquired a new position in Gilead Sciences in the 1st quarter worth approximately $134,489,000. 83.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on GILD. Robert W. Baird reissued a “neutral” rating and set a $80.00 price objective on shares of Gilead Sciences in a research note on Thursday, June 20th. Evercore ISI raised shares of Gilead Sciences to a “strong-buy” rating in a research note on Friday, August 9th. BMO Capital Markets increased their price target on Gilead Sciences from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Truist Financial lifted their price objective on shares of Gilead Sciences from $82.00 to $83.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Finally, Raymond James upgraded shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price target on the stock in a research note on Monday, July 8th. 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 stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $82.06.

Insider Activity at Gilead Sciences

In related news, insider Johanna Mercier sold 5,490 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total transaction of $406,150.20. Following the transaction, the insider now directly owns 114,979 shares in the company, valued at $8,506,146.42. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Gilead Sciences news, insider Johanna Mercier sold 5,490 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total transaction of $406,150.20. Following the sale, the insider now owns 114,979 shares in the company, valued at $8,506,146.42. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now directly owns 96,380 shares in the company, valued at approximately $6,614,559.40. The disclosure for this sale can be found here. 0.16% of the stock is owned by corporate insiders.

Gilead Sciences Stock Performance

Shares of Gilead Sciences stock opened at $79.13 on Thursday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.95 and a current ratio of 1.14. The stock has a market capitalization of $98.58 billion, a price-to-earnings ratio of 219.81, a PEG ratio of 2.74 and a beta of 0.18. The firm has a fifty day moving average of $73.66 and a two-hundred day moving average of $70.47. 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 earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.40. Gilead Sciences had a net margin of 3.79% and a return on equity of 29.34%. The company had revenue of $6.95 billion during the quarter, compared to analysts’ expectations of $6.64 billion. As a group, equities research analysts predict 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. Shareholders of record on Friday, September 13th will be given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date is Friday, September 13th. Gilead Sciences’s dividend payout ratio is presently 855.56%.

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.