RPG Investment Advisory LLC Purchases 23,665 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

RPG Investment Advisory LLC grew its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 31.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 99,965 shares of the biopharmaceutical company's stock after acquiring an additional 23,665 shares during the quarter. RPG Investment Advisory LLC's holdings in Gilead Sciences were worth $6,859,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. CarsonAllaria Wealth Management Ltd. lifted its stake in Gilead Sciences by 198.3% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company's stock worth $25,000 after purchasing an additional 238 shares during the last quarter. Private Wealth Management Group LLC purchased a new stake in Gilead Sciences during the 4th quarter valued at about $29,000. Palisade Asset Management LLC bought a new position in Gilead Sciences during the 1st quarter worth approximately $29,000. Sachetta LLC purchased a new position in Gilead Sciences in the 4th quarter worth approximately $30,000. Finally, Financial Connections Group Inc. bought a new stake in Gilead Sciences in the second quarter valued at approximately $34,000. Hedge funds and other institutional investors own 83.67% of the company's stock.

Gilead Sciences Stock Up 2.9 %

GILD stock traded up $2.27 on Tuesday, reaching $81.44. 6,867,698 shares of the company traded hands, compared to its average volume of 7,152,421. The firm has a fifty day simple moving average of $74.27 and a 200-day simple moving average of $70.59. The company has a market cap of $101.39 billion, a P/E ratio of 224.36, a price-to-earnings-growth ratio of 2.73 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. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.14 and a quick ratio of 0.95.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.40. The firm had revenue of $6.95 billion during the quarter, compared to the consensus estimate of $6.64 billion. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. Research analysts anticipate that Gilead Sciences, Inc. will post 3.78 earnings per share for the current year.

Gilead Sciences Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date of this dividend is Friday, September 13th. Gilead Sciences's payout ratio is 855.56%.

Insider Activity at Gilead Sciences

In other news, insider Johanna Mercier sold 5,490 shares of the company's stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total transaction of $406,150.20. Following the transaction, the insider now directly owns 114,979 shares of the company's stock, valued at $8,506,146.42. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Johanna Mercier sold 5,490 shares of Gilead Sciences 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 completion of 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 filing with the Securities & Exchange Commission, which is available through this link. Also, insider Merdad Parsey sold 2,000 shares of the company's stock in a transaction dated Monday, July 1st. The shares were 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 in the company, valued at approximately $6,614,559.40. The disclosure for this sale can be found here. 0.16% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Royal Bank of Canada lifted their target price on shares of Gilead Sciences from $72.00 to $74.00 and gave the stock a "sector perform" rating in a research note on Wednesday, September 4th. Evercore ISI upgraded shares of Gilead Sciences to a "strong-buy" rating in a report on Friday, August 9th. Robert W. Baird reissued a "neutral" rating and issued a $80.00 target price on shares of Gilead Sciences in a research note on Thursday, June 20th. Raymond James raised Gilead Sciences from a "market perform" rating to an "outperform" rating and set a $93.00 price target for the company in a research report on Monday, July 8th. Finally, Cantor Fitzgerald reiterated a "neutral" rating and issued a $70.00 price objective on shares of Gilead Sciences in a research report on Monday. Twelve analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Gilead Sciences has an average rating of "Moderate Buy" and an average target price of $81.25.

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.