Raleigh Capital Management Inc. Buys 7,801 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Raleigh Capital Management Inc. raised its holdings in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 30.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,197 shares of the biopharmaceutical company's stock after purchasing an additional 7,801 shares during the quarter. Gilead Sciences accounts for 1.1% of Raleigh Capital Management Inc.'s investment portfolio, making the stock its 15th largest position. Raleigh Capital Management Inc.'s holdings in Gilead Sciences were worth $2,783,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Manning & Napier Advisors LLC bought a new position in shares of Gilead Sciences during the 2nd quarter worth $25,328,000. Legal & General Group Plc increased its stake in shares of Gilead Sciences by 0.8% in the second quarter. Legal & General Group Plc now owns 12,414,268 shares of the biopharmaceutical company's stock worth $851,743,000 after purchasing an additional 93,068 shares in the last quarter. GSA Capital Partners LLP bought a new stake in shares of Gilead Sciences in the first quarter valued at approximately $462,000. Brookstone Capital Management raised its position in shares of Gilead Sciences by 751.1% in the first quarter. Brookstone Capital Management now owns 127,258 shares of the biopharmaceutical company's stock valued at $9,322,000 after purchasing an additional 112,305 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of Gilead Sciences by 13.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 286,116 shares of the biopharmaceutical company's stock valued at $19,630,000 after buying an additional 33,162 shares in the last quarter. Institutional investors own 83.67% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on GILD shares. Royal Bank of Canada boosted their target price on shares of Gilead Sciences from $74.00 to $75.00 and gave the company a "sector perform" rating in a report on Friday, October 4th. Evercore ISI upgraded Gilead Sciences to a "strong-buy" rating in a research note on Friday, August 9th. JPMorgan Chase & Co. raised their target price on Gilead Sciences from $95.00 to $100.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 9th. Leerink Partners upgraded Gilead Sciences from a "market perform" rating to an "outperform" rating and upped their price target for the company from $74.00 to $96.00 in a research report on Monday. Finally, Wells Fargo & Company upgraded shares of Gilead Sciences from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $78.00 to $100.00 in a research report on Monday, October 7th. Ten equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $86.85.

Insider Activity at Gilead Sciences

In related news, insider Johanna Mercier sold 5,490 shares of the company'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 value of $406,150.20. Following the sale, the insider now owns 114,979 shares in the company, valued at $8,506,146.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total transaction of $167,660.00. Following the sale, the insider now owns 100,189 shares in the company, valued at $8,398,843.87. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Johanna Mercier sold 5,490 shares of the firm's stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total transaction of $406,150.20. Following the sale, the insider now directly owns 114,979 shares of the company's stock, valued at $8,506,146.42. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 36,847 shares of company stock valued at $3,033,340 in the last three months. Company insiders own 0.16% of the company's stock.

Gilead Sciences Trading Up 2.2 %

Shares of NASDAQ:GILD traded up $1.87 during midday trading on Tuesday, hitting $88.16. 6,029,354 shares of the stock traded hands, compared to its average volume of 7,062,263. Gilead Sciences, Inc. has a one year low of $62.07 and a one year high of $88.36. The stock has a market capitalization of $109.83 billion, a PE ratio of 244.89, a P/E/G ratio of 2.98 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. The business's 50 day moving average is $81.61 and its two-hundred day moving average is $73.07.

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, 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 business had revenue of $6.95 billion during the quarter, compared to analyst estimates of $6.64 billion. As a group, research analysts forecast that Gilead Sciences, Inc. will post 3.78 earnings per share for the current year.

Gilead Sciences Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 3.49%. The ex-dividend date was Friday, September 13th. Gilead Sciences's dividend payout ratio is currently 855.56%.

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.