Lighthouse Investment Partners LLC Purchases Shares of 56,607 Gilead Sciences, Inc. (NASDAQ:GILD)

Lighthouse Investment Partners LLC acquired a new stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 56,607 shares of the biopharmaceutical company's stock, valued at approximately $3,884,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CarsonAllaria Wealth Management Ltd. grew its holdings in Gilead Sciences by 198.3% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company's stock worth $25,000 after acquiring an additional 238 shares in the last quarter. Palisade Asset Management LLC acquired a new position in shares of Gilead Sciences during the first quarter worth $29,000. Cedar Wealth Management LLC increased its holdings in Gilead Sciences by 51.6% in the second quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company's stock valued at $32,000 after buying an additional 160 shares during the last quarter. Financial Connections Group Inc. acquired a new stake in Gilead Sciences in the second quarter valued at $34,000. Finally, Frank Rimerman Advisors LLC purchased a new stake in Gilead Sciences during the 4th quarter worth about $36,000. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GILD has been the topic of several research analyst reports. Evercore ISI raised Gilead Sciences to a "strong-buy" rating in a research report on Friday, August 9th. Cantor Fitzgerald reissued a "neutral" rating and set a $70.00 price objective on shares of Gilead Sciences in a report on Monday, September 16th. BMO Capital Markets boosted their price objective 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. Needham & Company LLC reaffirmed a "hold" rating on shares of Gilead Sciences in a research report on Thursday, August 15th. Finally, Raymond James raised shares of 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. Twelve investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $82.06.

Insider Activity

In related news, insider Merdad Parsey sold 2,000 shares of the company's stock in a transaction 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 of the company's stock, valued at $6,614,559.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Merdad Parsey sold 2,000 shares of the business'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 sale, the insider now owns 96,380 shares of the company's stock, valued at $6,614,559.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Johanna Mercier sold 5,490 shares of the company's stock in a transaction dated 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 owns 114,979 shares in the company, valued at $8,506,146.42. The disclosure for this sale can be found here. Insiders sold 36,847 shares of company stock valued at $3,002,940 in the last three months. 0.16% of the stock is currently owned by company insiders.

Gilead Sciences Stock Performance

NASDAQ:GILD traded up $0.57 during midday trading on Friday, reaching $83.61. The stock had a trading volume of 5,456,738 shares, compared to its average volume of 7,275,791. The stock has a market cap of $104.17 billion, a P/E ratio of 232.25, a P/E/G ratio of 2.91 and a beta of 0.18. 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, Inc. has a 12-month low of $62.07 and a 12-month high of $87.86. The firm has a fifty day simple moving average of $78.05 and a two-hundred day simple moving average of $71.56.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its 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 business had revenue of $6.95 billion for the quarter, compared to the consensus estimate of $6.64 billion. Gilead Sciences had a net margin of 3.79% and a return on equity of 29.34%. On average, equities analysts expect that Gilead Sciences, Inc. will post 3.78 EPS for the current year.

Gilead Sciences Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis 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%.

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.