Cedar Wealth Management LLC Grows Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Cedar Wealth Management LLC boosted its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 51.6% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 470 shares of the biopharmaceutical company’s stock after acquiring an additional 160 shares during the period. Cedar Wealth Management LLC’s holdings in Gilead Sciences were worth $32,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Gilead Sciences by 2.6% in the 1st 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 period. Capital World Investors increased its stake in Gilead Sciences by 1.4% during the first quarter. Capital World Investors now owns 84,497,404 shares of the biopharmaceutical company’s stock worth $6,189,435,000 after purchasing an additional 1,133,281 shares during the period. Capital Research Global Investors lifted its position in shares of Gilead Sciences by 2.7% during the first quarter. Capital Research Global Investors now owns 61,246,366 shares of the biopharmaceutical company’s stock worth $4,486,296,000 after purchasing an additional 1,589,240 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Gilead Sciences by 14.4% in the fourth quarter. Wellington Management Group LLP now owns 18,630,134 shares of the biopharmaceutical company’s stock valued at $1,509,227,000 after purchasing an additional 2,350,550 shares during the period. Finally, Parnassus Investments LLC grew its holdings in shares of Gilead Sciences by 0.3% in the fourth quarter. Parnassus Investments LLC now owns 11,952,057 shares of the biopharmaceutical company’s stock valued at $968,236,000 after purchasing an additional 36,686 shares in the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Insider Activity

In other Gilead Sciences news, insider Johanna Mercier sold 29,357 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 78,127 shares of the company’s stock, valued at approximately $6,545,480.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Gilead Sciences news, 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Johanna Mercier sold 29,357 shares of the 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 completion of the sale, the insider now directly owns 78,127 shares in the company, valued at $6,545,480.06. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,847 shares of company stock valued at $3,002,940. 0.16% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have commented on GILD. Robert W. Baird reissued a “neutral” rating and issued a $80.00 price target on shares of Gilead Sciences in a research report on Thursday, June 20th. BMO Capital Markets lifted their target price on Gilead Sciences from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Royal Bank of Canada boosted their target price on Gilead Sciences from $72.00 to $74.00 and gave the stock a “sector perform” rating in a research note on Wednesday, September 4th. Raymond James raised Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price target on the stock in a research report on Monday, July 8th. Finally, Evercore ISI upgraded Gilead Sciences to a “strong-buy” rating in a research note on Friday, August 9th. Twelve analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $82.06.

Gilead Sciences Trading Up 0.0 %

NASDAQ GILD opened at $83.90 on Friday. The firm’s fifty day moving average price is $76.67 and its 200 day moving average price is $71.18. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month 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 company has a market capitalization of $104.53 billion, a price-to-earnings ratio of 233.06, a price-to-earnings-growth ratio of 2.80 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data 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 company had revenue of $6.95 billion for the quarter, compared to analyst estimates of $6.64 billion. On average, sell-side analysts expect that Gilead Sciences, Inc. will post 3.78 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend is Friday, September 13th. Gilead Sciences’s dividend payout ratio is currently 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.