Gilead Sciences, Inc. (NASDAQ:GILD) Shares Bought by Fred Alger Management LLC

Fred Alger Management LLC boosted its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 9.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,357 shares of the biopharmaceutical company’s stock after buying an additional 2,442 shares during the quarter. Fred Alger Management LLC’s holdings in Gilead Sciences were worth $1,877,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. CarsonAllaria Wealth Management Ltd. raised its holdings in shares of Gilead Sciences by 198.3% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 238 shares in the last quarter. Palisade Asset Management LLC acquired a new stake in shares of Gilead Sciences in the 1st quarter valued at $29,000. Cedar Wealth Management LLC raised its holdings in shares of Gilead Sciences by 51.6% in the 2nd quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 160 shares in the last quarter. Financial Connections Group Inc. acquired a new stake in shares of Gilead Sciences in the 2nd quarter valued at $34,000. Finally, Frank Rimerman Advisors LLC acquired a new stake in shares of Gilead Sciences in the 4th quarter valued at $36,000. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Gilead Sciences Stock Up 0.7 %

Shares of NASDAQ GILD opened at $83.61 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 1.18. Gilead Sciences, Inc. has a 52 week low of $62.07 and a 52 week high of $87.86. The firm has a 50-day moving average price of $78.05 and a 200 day moving average price of $71.58. The stock has a market capitalization of $104.17 billion, a price-to-earnings ratio of 232.25, a price-to-earnings-growth ratio of 2.91 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $2.01 EPS for the quarter, beating the consensus estimate of $1.61 by $0.40. Gilead Sciences had a net margin of 3.79% and a return on equity of 29.34%. The firm had revenue of $6.95 billion during the quarter, compared to analysts’ expectations of $6.64 billion. Equities research analysts anticipate 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 was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 3.68%. The ex-dividend date of this dividend was Friday, September 13th. Gilead Sciences’s dividend payout ratio (DPR) is 855.56%.

Analysts Set New Price Targets

A number of research firms recently commented on GILD. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $70.00 target price on shares of Gilead Sciences in a research report on Monday, September 16th. Robert W. Baird reaffirmed a “neutral” rating and issued a $80.00 target price on shares of Gilead Sciences in a research report on Thursday, June 20th. Evercore ISI raised shares of Gilead Sciences to a “strong-buy” rating in a research report on Friday, August 9th. 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 report on Monday, July 8th. Finally, Royal Bank of Canada raised their price objective on shares of Gilead Sciences from $72.00 to $74.00 and gave the stock a “sector perform” rating in a research report on Wednesday, September 4th. Twelve research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $82.06.

Insider Activity at Gilead Sciences

In related news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at $6,614,559.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Gilead Sciences news, insider Johanna Mercier sold 5,490 shares of Gilead Sciences 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 completion of the transaction, the insider now owns 114,979 shares in the company, valued at $8,506,146.42. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $68.63, for a total transaction of $137,260.00. Following the transaction, the insider now owns 96,380 shares of the company’s stock, valued at approximately $6,614,559.40. The disclosure for this sale can be found here. Insiders sold 36,847 shares of company stock worth $3,002,940 over the last 90 days. Company insiders own 0.16% of the company’s stock.

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.