Harmony Asset Management LLC Takes $262,000 Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Harmony Asset Management LLC bought a new stake in Gilead Sciences, Inc. (NASDAQ:GILD) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,824 shares of the biopharmaceutical company’s stock, valued at approximately $262,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. CarsonAllaria Wealth Management Ltd. raised its holdings in shares of Gilead Sciences by 198.3% in the second 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 during the last quarter. Palisade Asset Management LLC acquired a new position in shares of Gilead Sciences in the first quarter valued at approximately $29,000. Frank Rimerman Advisors LLC purchased a new stake in shares of Gilead Sciences during the fourth quarter worth approximately $36,000. Cedar Wealth Management LLC lifted its holdings in shares of 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 purchasing an additional 160 shares during the period. Finally, Fortis Group Advisors LLC increased its stake in Gilead Sciences by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 492 shares of the biopharmaceutical company’s stock valued at $40,000 after buying an additional 246 shares during the period. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Insider Activity

In related news, 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 transaction, the insider now owns 96,380 shares in the company, valued at $6,614,559.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Johanna Mercier sold 29,357 shares of the company’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 completion of the sale, 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 filing with the SEC, which can be accessed through the SEC website. Also, insider Merdad Parsey sold 2,000 shares of the stock in a transaction 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 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 36,847 shares of company stock valued at $3,002,940 in the last ninety days. Company insiders own 0.16% of the company’s stock.

Gilead Sciences Stock Up 0.0 %

GILD stock opened at $83.94 on Monday. The company has a 50 day moving average price of $76.95 and a two-hundred day moving average price of $71.24. 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 $104.58 billion, a P/E ratio of 233.17, a PEG ratio of 2.80 and a beta of 0.18. Gilead Sciences, Inc. has a one year low of $62.07 and a one year high of $87.86.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $2.01 EPS for the quarter, beating 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 the consensus estimate of $6.64 billion. As a group, sell-side analysts expect that Gilead Sciences, Inc. will post 3.78 EPS for the current year.

Gilead Sciences Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on GILD shares. Evercore ISI raised shares of Gilead Sciences to a “strong-buy” rating in a report on Friday, August 9th. BMO Capital Markets upped their price objective on Gilead Sciences from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Truist Financial raised their target price on Gilead Sciences from $82.00 to $83.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research note on Thursday, August 15th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $80.00 price objective on shares of Gilead Sciences in a research note on Thursday, June 20th. Twelve investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Gilead Sciences presently has a consensus rating of “Moderate Buy” and a consensus 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.