HBK Sorce Advisory LLC Buys 6,556 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

HBK Sorce Advisory LLC lifted its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 17.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,445 shares of the biopharmaceutical company's stock after purchasing an additional 6,556 shares during the quarter. HBK Sorce Advisory LLC's holdings in Gilead Sciences were worth $2,981,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in GILD. Manning & Napier Advisors LLC bought a new stake in shares of Gilead Sciences during the second quarter worth $25,328,000. Eagle Asset Management Inc. lifted its holdings in shares of Gilead Sciences by 23.6% in the fourth quarter. Eagle Asset Management Inc. now owns 317,539 shares of the biopharmaceutical company's stock valued at $25,724,000 after purchasing an additional 60,697 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of Gilead Sciences during the first quarter worth about $462,000. Brookstone Capital Management grew its holdings in shares of Gilead Sciences by 751.1% during the first quarter. Brookstone Capital Management now owns 127,258 shares of the biopharmaceutical company's stock worth $9,322,000 after buying an additional 112,305 shares in the last quarter. Finally, Comerica Bank raised its position in Gilead Sciences by 10.7% in the 4th quarter. Comerica Bank now owns 329,990 shares of the biopharmaceutical company's stock valued at $26,733,000 after buying an additional 31,849 shares during the last quarter. Institutional investors and hedge funds own 83.67% of the company's stock.

Gilead Sciences Stock Performance

Shares of NASDAQ:GILD traded down $0.35 during trading on Friday, reaching $82.81. 6,528,809 shares of the stock were exchanged, compared to its average volume of 7,168,032. The firm has a market cap of $103.10 billion, a PE ratio of 229.83, a PEG ratio of 2.80 and a beta of 0.18. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 1.18. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $87.86. The stock has a 50-day moving average price of $75.15 and a 200-day moving average price of $70.80.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued 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 return on equity of 29.34% and a net margin of 3.79%. The firm had revenue of $6.95 billion for the quarter, compared to analyst estimates of $6.64 billion. Research analysts expect that Gilead Sciences, Inc. will post 3.78 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The firm 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 $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date is Friday, September 13th. Gilead Sciences's dividend payout ratio is currently 855.56%.

Insiders Place Their Bets

In other Gilead Sciences 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 completion of the transaction, the insider now directly owns 96,380 shares of the company's stock, valued at approximately $6,614,559.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Merdad Parsey sold 2,000 shares of the business'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 transaction, the insider now directly owns 96,380 shares in the company, valued at approximately $6,614,559.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Johanna Mercier sold 5,490 shares of the stock in a transaction that occurred 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 sale, the insider now owns 114,979 shares in the company, valued at approximately $8,506,146.42. The disclosure for this sale can be found here. Company insiders own 0.16% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on GILD shares. Piper Sandler reaffirmed an "overweight" rating and set a $95.00 price target on shares of Gilead Sciences in a research note on Wednesday. Raymond James upgraded shares of Gilead Sciences from a "market perform" rating to an "outperform" rating and set a $93.00 price target on the stock in a research note on Monday, July 8th. Robert W. Baird restated a "neutral" rating and set a $80.00 price objective on shares of Gilead Sciences in a research note on Thursday, June 20th. BMO Capital Markets raised their price objective on Gilead Sciences from $80.00 to $85.00 and gave the company an "outperform" rating in a report on Friday, August 9th. Finally, Evercore ISI upgraded Gilead Sciences to a "strong-buy" rating in a report on Friday, August 9th. Twelve analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average 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.