Resolute Capital Asset Partners LLC Purchases Shares of 55,000 Gilead Sciences, Inc. (NASDAQ:GILD)

Resolute Capital Asset Partners LLC acquired a new stake in Gilead Sciences, Inc. (NASDAQ:GILD) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 55,000 shares of the biopharmaceutical company’s stock, valued at approximately $3,774,000. Gilead Sciences comprises 2.2% of Resolute Capital Asset Partners LLC’s investment portfolio, making the stock its 16th biggest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Manning & Napier Advisors LLC purchased a new stake in shares of Gilead Sciences in the 2nd quarter worth about $25,328,000. Eagle Asset Management Inc. grew its holdings in shares of Gilead Sciences by 23.6% during the 4th quarter. Eagle Asset Management Inc. now owns 317,539 shares of the biopharmaceutical company’s stock worth $25,724,000 after acquiring an additional 60,697 shares during the period. GSA Capital Partners LLP bought a new position in shares of Gilead Sciences in the 1st quarter worth approximately $462,000. Brookstone Capital Management lifted its stake in shares of Gilead Sciences by 751.1% in the 1st quarter. Brookstone Capital Management now owns 127,258 shares of the biopharmaceutical company’s stock valued at $9,322,000 after purchasing an additional 112,305 shares during the period. Finally, Comerica Bank raised its position in shares of Gilead Sciences by 10.7% in the 4th quarter. Comerica Bank now owns 329,990 shares of the biopharmaceutical company’s stock worth $26,733,000 after purchasing an additional 31,849 shares during the last quarter. 83.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GILD. Piper Sandler reaffirmed an “overweight” rating and issued a $95.00 target price on shares of Gilead Sciences in a report on Wednesday, September 11th. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a report on Thursday, August 15th. Evercore ISI upgraded Gilead Sciences to a “strong-buy” rating in a research note on Friday, August 9th. Robert W. Baird restated a “neutral” rating and issued a $80.00 price target on shares of Gilead Sciences in a research note on Thursday, June 20th. Finally, Truist Financial increased their price objective on Gilead Sciences from $82.00 to $83.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Twelve investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $82.06.

Insider Activity

In related news, insider Johanna Mercier sold 5,490 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total value of $406,150.20. Following the sale, the insider now directly owns 114,979 shares in the company, valued at $8,506,146.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other 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 value of $406,150.20. Following the sale, the insider now directly owns 114,979 shares in the company, valued at approximately $8,506,146.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $68.63, for a total value of $137,260.00. Following the completion of the sale, the insider now directly owns 96,380 shares of the company’s stock, valued at $6,614,559.40. The disclosure for this sale can be found here. Insiders sold a total of 36,847 shares of company stock worth $3,002,940 over the last 90 days. Corporate insiders own 0.16% of the company’s stock.

Gilead Sciences Trading Up 1.0 %

Shares of GILD stock opened at $83.89 on Thursday. The stock has a fifty day simple moving average of $76.40 and a two-hundred day simple moving average of $71.09. Gilead Sciences, Inc. has a 52-week low of $62.07 and a 52-week high of $87.86. The firm has a market capitalization of $104.51 billion, a PE ratio of 233.03, a PEG 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 released its earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $6.64 billion. On average, analysts predict that Gilead Sciences, Inc. will post 3.78 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend is Friday, September 13th. Gilead Sciences’s dividend payout ratio (DPR) is presently 855.56%.

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.