Doheny Asset Management CA Takes $2.69 Million Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Doheny Asset Management CA purchased a new position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 39,179 shares of the biopharmaceutical company's stock, valued at approximately $2,688,000. Gilead Sciences comprises 1.5% of Doheny Asset Management CA's investment portfolio, making the stock its 20th largest position.

Other institutional investors also recently added to or reduced their stakes in 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 acquiring an additional 238 shares during the period. Palisade Asset Management LLC purchased a new stake in shares of Gilead Sciences in the 1st quarter worth approximately $29,000. Frank Rimerman Advisors LLC bought a new position in shares of Gilead Sciences during the fourth quarter valued at approximately $36,000. Cedar Wealth Management LLC increased its holdings in Gilead Sciences by 51.6% during 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 period. Finally, Fortis Group Advisors LLC raised its stake in Gilead Sciences by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 492 shares of the biopharmaceutical company's stock worth $40,000 after buying an additional 246 shares in the last quarter. Hedge funds and other institutional investors own 83.67% of the company's stock.

Gilead Sciences Stock Performance

Shares of GILD stock traded up $0.57 during mid-day 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 business's fifty day moving average is $78.05 and its 200-day moving average is $71.53. The firm has a market cap of $104.17 billion, a price-to-earnings ratio of 232.25, a PEG ratio of 2.91 and a beta of 0.18. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $87.86. 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 (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 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 for the quarter, compared to analyst estimates of $6.64 billion. On average, research analysts forecast that Gilead Sciences, Inc. will post 3.78 earnings per share for the current year.

Gilead Sciences Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a 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%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Royal Bank of Canada lifted their price target on Gilead Sciences from $72.00 to $74.00 and gave the company a "sector perform" rating in a report on Wednesday, September 4th. Piper Sandler reiterated an "overweight" rating and issued a $95.00 target price on shares of Gilead Sciences in a research note on Wednesday, September 11th. Cantor Fitzgerald reissued a "neutral" rating and set a $70.00 price target on shares of Gilead Sciences in a research report on Monday, September 16th. BMO Capital Markets lifted 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. Finally, Truist Financial increased their target price on shares of Gilead Sciences from $82.00 to $83.00 and gave the company a "hold" rating in a research report on Thursday, August 15th. Twelve investment 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 stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $82.06.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the company's stock in a transaction that occurred 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 approximately $6,614,559.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Gilead Sciences news, 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 value of $137,260.00. Following the completion of the transaction, the insider now owns 96,380 shares in the company, valued at $6,614,559.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Johanna Mercier sold 29,357 shares of the firm's stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $83.78, for a total value of $2,459,529.46. Following the sale, the insider now owns 78,127 shares in the company, valued at $6,545,480.06. The disclosure for this sale can be found here. Over the last ninety 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 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.