Frank Rimerman Advisors LLC Increases Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Frank Rimerman Advisors LLC grew its position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 4,496.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,834 shares of the biopharmaceutical company's stock after buying an additional 29,185 shares during the quarter. Frank Rimerman Advisors LLC's holdings in Gilead Sciences were worth $2,047,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Manning & Napier Advisors LLC acquired a new stake in Gilead Sciences in the second quarter valued at $25,328,000. Eagle Asset Management Inc. raised its stake 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 worth $25,724,000 after purchasing an additional 60,697 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in Gilead Sciences in the 1st quarter valued at $462,000. Brookstone Capital Management boosted its holdings 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 last quarter. Finally, Comerica Bank grew its holdings in shares of Gilead Sciences by 10.7% in the fourth quarter. Comerica Bank now owns 329,990 shares of the biopharmaceutical company's stock valued at $26,733,000 after acquiring an additional 31,849 shares in the last quarter. Institutional investors own 83.67% of the company's stock.

Insider Buying and Selling

In related news, insider Johanna Mercier sold 29,357 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the completion of the transaction, the insider now directly owns 78,127 shares of the company's stock, valued at $6,545,480.06. The sale was disclosed in a filing with the SEC, which is available through this link. In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the 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 sale, the insider now owns 96,380 shares in the company, valued at $6,614,559.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Johanna Mercier sold 29,357 shares of Gilead Sciences stock in a transaction that occurred 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 sale, the insider now directly owns 78,127 shares of the company's stock, valued at approximately $6,545,480.06. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,847 shares of company stock worth $3,002,940. 0.16% of the stock is owned by corporate insiders.

Gilead Sciences Stock Performance

GILD traded up $0.04 during midday trading on Friday, reaching $83.94. The company had a trading volume of 24,925,966 shares, compared to its average volume of 7,289,311. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $87.86. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 1.18. The company has a market cap of $104.58 billion, a P/E ratio of 233.17, a P/E/G ratio of 2.80 and a beta of 0.18. The business has a 50-day moving average of $76.95 and a two-hundred day moving average of $71.25.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $6.95 billion during the quarter, compared to analysts' expectations of $6.64 billion. As a group, equities research analysts predict that Gilead Sciences, Inc. will post 3.78 earnings per share 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. Stockholders 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 dividend yield of 3.67%. The ex-dividend date of this dividend is Friday, September 13th. Gilead Sciences's dividend payout ratio (DPR) is 855.56%.

Analyst Ratings Changes

GILD has been the subject of a number of research reports. Cantor Fitzgerald reissued a "neutral" rating and set a $70.00 target price on shares of Gilead Sciences in a research report on Monday, September 16th. Piper Sandler reaffirmed an "overweight" rating and set a $95.00 target price on shares of Gilead Sciences in a report on Wednesday, September 11th. Needham & Company LLC reiterated a "hold" rating on shares of Gilead Sciences in a research report on Thursday, August 15th. Evercore ISI upgraded shares of Gilead Sciences to a "strong-buy" rating in a research report on Friday, August 9th. Finally, Royal Bank of Canada increased their price target on shares of Gilead Sciences from $72.00 to $74.00 and gave the company a "sector perform" rating in a research report on Wednesday, September 4th. Twelve analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently 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.