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

Raleigh Capital Management Inc. increased its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 30.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,197 shares of the biopharmaceutical company’s stock after acquiring an additional 7,801 shares during the quarter. Gilead Sciences comprises approximately 1.1% of Raleigh Capital Management Inc.’s investment portfolio, making the stock its 15th biggest holding. Raleigh Capital Management Inc.’s holdings in Gilead Sciences were worth $2,783,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. CarsonAllaria Wealth Management Ltd. boosted its position in shares of Gilead Sciences by 198.3% during the second quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 238 shares in the last quarter. nVerses Capital LLC bought a new position in Gilead Sciences during the third quarter worth about $25,000. Palisade Asset Management LLC acquired a new position in Gilead Sciences in the first quarter valued at about $29,000. Cedar Wealth Management LLC increased its holdings in shares of Gilead Sciences by 51.6% in the second quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 160 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of Gilead Sciences during the second quarter worth about $33,000. Institutional investors and hedge funds own 83.67% of the company’s stock.

Insiders Place Their Bets

In other news, insider Johanna Mercier sold 29,357 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 78,127 shares in the company, valued at approximately $6,545,480.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Gilead Sciences news, 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 transaction, the insider now directly owns 78,127 shares of the company’s stock, valued at $6,545,480.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total transaction of $167,660.00. Following the sale, the insider now directly owns 100,189 shares of the company’s stock, valued at approximately $8,398,843.87. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,847 shares of company stock worth $3,033,340 in the last 90 days. Company insiders own 0.16% of the company’s stock.

Gilead Sciences Stock Down 0.5 %

GILD stock opened at $86.29 on Tuesday. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $87.86. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.14 and a quick ratio of 0.95. The stock has a market capitalization of $107.50 billion, a price-to-earnings ratio of 239.69, a PEG ratio of 2.98 and a beta of 0.18. The business’s fifty day moving average price is $81.32 and its two-hundred day moving average price is $72.94.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.40. The business had revenue of $6.95 billion for the quarter, compared to analyst estimates 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 anticipate that Gilead Sciences, Inc. will post 3.78 earnings per share for the current year.

Gilead Sciences Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date was Friday, September 13th. Gilead Sciences’s dividend payout ratio is currently 855.56%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $95.00 price target on shares of Gilead Sciences in a research note on Wednesday, September 11th. Barclays boosted their price target on Gilead Sciences from $76.00 to $84.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Sanford C. Bernstein began coverage on Gilead Sciences in a research report on Thursday, October 17th. They issued an “outperform” rating and a $105.00 target price on the stock. BMO Capital Markets raised their price target on shares of Gilead Sciences from $85.00 to $94.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, Leerink Partners raised shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $74.00 to $96.00 in a research report on Monday. Ten investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $86.85.

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.