Resolute Capital Asset Partners LLC Acquires New Shares in Gilead Sciences, Inc. (NASDAQ:GILD)

Resolute Capital Asset Partners LLC purchased a new stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 55,000 shares of the biopharmaceutical company's stock, valued at approximately $3,774,000. Gilead Sciences accounts for about 2.2% of Resolute Capital Asset Partners LLC's investment portfolio, making the stock its 16th largest position.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Manning & Napier Advisors LLC bought a new position in Gilead Sciences in the second quarter worth $25,328,000. Eagle Asset Management Inc. boosted its position in shares of Gilead Sciences by 23.6% during the 4th quarter. Eagle Asset Management Inc. now owns 317,539 shares of the biopharmaceutical company's stock valued at $25,724,000 after acquiring an additional 60,697 shares in the last quarter. GSA Capital Partners LLP acquired a new position in Gilead Sciences in the first quarter worth about $462,000. Brookstone Capital Management lifted its stake in 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 purchasing an additional 112,305 shares during the period. Finally, Comerica Bank boosted its holdings in Gilead Sciences by 10.7% during the fourth quarter. Comerica Bank now owns 329,990 shares of the biopharmaceutical company's stock valued at $26,733,000 after purchasing an additional 31,849 shares in the last quarter. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GILD has been the subject of several analyst reports. Royal Bank of Canada raised their target price on Gilead Sciences from $72.00 to $74.00 and gave the stock a "sector perform" rating in a research report on Wednesday, September 4th. Evercore ISI upgraded shares of Gilead Sciences to a "strong-buy" rating in a research note on Friday, August 9th. BMO Capital Markets increased their target price on shares of Gilead Sciences from $80.00 to $85.00 and gave the stock an "outperform" rating in a research report on Friday, August 9th. Cantor Fitzgerald restated a "neutral" rating and issued a $70.00 price target on shares of Gilead Sciences in a research report on Monday. Finally, Raymond James raised shares of Gilead Sciences from a "market perform" rating to an "outperform" rating and set a $93.00 price objective for the company in a report on Monday, July 8th. Twelve research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $82.06.

Gilead Sciences Stock Up 0.0 %

Shares of NASDAQ:GILD traded up $0.01 during midday trading on Thursday, hitting $83.90. The stock had a trading volume of 8,797,952 shares, compared to its average volume of 7,191,870. The company has a market cap of $104.53 billion, a P/E ratio of 233.06, a PEG ratio of 2.80 and a beta of 0.18. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $87.86. The business's 50-day simple moving average is $76.67 and its 200-day simple moving average is $71.18. 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 (NASDAQ:GILD - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, topping 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 company had revenue of $6.95 billion for the quarter, compared to analyst estimates of $6.64 billion. On average, sell-side analysts forecast that Gilead Sciences, Inc. will post 3.78 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors 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 is Friday, September 13th. Gilead Sciences's dividend payout ratio (DPR) is presently 855.56%.

Insider Activity

In other news, insider Johanna Mercier sold 5,490 shares of the business's 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 completion of the sale, the insider now owns 114,979 shares in the company, valued at $8,506,146.42. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Johanna Mercier sold 5,490 shares of the firm's 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 transaction, the insider now directly owns 114,979 shares of the company's stock, valued at $8,506,146.42. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Merdad Parsey sold 2,000 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $6,614,559.40. The disclosure for this sale can be found here. Insiders have sold 36,847 shares of company stock valued at $3,002,940 over the last ninety days. 0.16% of the stock is currently owned by company insiders.

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.