Resonant Capital Advisors LLC Purchases New Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Resonant Capital Advisors LLC acquired a new position in Gilead Sciences, Inc. (NASDAQ:GILD) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 15,041 shares of the biopharmaceutical company’s stock, valued at approximately $1,261,000.

Other hedge funds have also modified their holdings of the company. nVerses Capital LLC purchased a new position in shares of Gilead Sciences in the third quarter valued at $25,000. CarsonAllaria Wealth Management Ltd. raised its position 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 buying an additional 238 shares in the last quarter. Palisade Asset Management LLC bought a new position in shares of Gilead Sciences in the 1st quarter valued at about $29,000. Strategic Investment Solutions Inc. IL purchased a new position in Gilead Sciences in the second quarter worth about $33,000. Finally, Cedar Wealth Management LLC increased its stake in Gilead Sciences by 51.6% during the second quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 160 shares during the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

Gilead Sciences Stock Performance

Shares of GILD stock opened at $86.72 on Friday. The firm has a market cap of $108.04 billion, a price-to-earnings ratio of 240.89, a PEG ratio of 2.98 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. 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 company’s 50 day moving average is $81.06 and its 200 day moving average is $72.81.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly 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 the consensus estimate of $6.64 billion. On average, sell-side analysts anticipate that Gilead Sciences, Inc. will post 3.78 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date was 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 stock in a transaction that occurred on 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 completion of the sale, the insider now owns 78,127 shares of the company’s stock, valued at $6,545,480.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Johanna Mercier sold 29,357 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was 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 of the company’s stock, valued at $6,545,480.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Merdad Parsey sold 2,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total value of $167,660.00. Following the completion of the sale, the insider now owns 100,189 shares of the company’s stock, valued at approximately $8,398,843.87. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,847 shares of company stock valued at $3,033,340 in the last 90 days. Insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

GILD has been the subject of a number of recent research reports. Barclays lifted their target price on Gilead Sciences from $76.00 to $84.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Sanford C. Bernstein started coverage on shares of Gilead Sciences in a research report on Thursday. They set an “outperform” rating and a $105.00 price objective on the stock. Raymond James raised shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 target price on the stock in a research note on Monday, July 8th. Piper Sandler reaffirmed an “overweight” rating and set a $95.00 price target on shares of Gilead Sciences in a research note on Wednesday, September 11th. Finally, Royal Bank of Canada increased their price objective on shares of Gilead Sciences from $74.00 to $75.00 and gave the stock a “sector perform” rating in a research report on Friday, October 4th. Ten research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $86.37.

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.