Doheny Asset Management CA Acquires Shares of 39,179 Gilead Sciences, Inc. (NASDAQ:GILD)

Doheny Asset Management CA acquired a new stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 39,179 shares of the biopharmaceutical company’s stock, valued at approximately $2,688,000. Gilead Sciences makes up 2.1% of Doheny Asset Management CA’s investment portfolio, making the stock its 16th largest position.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Gilead Sciences by 2.6% during the first quarter. Vanguard Group Inc. now owns 114,732,575 shares of the biopharmaceutical company’s stock valued at $8,404,161,000 after purchasing an additional 2,910,147 shares in the last quarter. Capital World Investors grew its stake in shares of Gilead Sciences by 1.4% during the first quarter. Capital World Investors now owns 84,497,404 shares of the biopharmaceutical company’s stock worth $6,189,435,000 after buying an additional 1,133,281 shares during the last quarter. Capital Research Global Investors grew its stake in shares of Gilead Sciences by 2.7% during the first quarter. Capital Research Global Investors now owns 61,246,366 shares of the biopharmaceutical company’s stock worth $4,486,296,000 after buying an additional 1,589,240 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Gilead Sciences by 14.4% during the fourth quarter. Wellington Management Group LLP now owns 18,630,134 shares of the biopharmaceutical company’s stock worth $1,509,227,000 after buying an additional 2,350,550 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Gilead Sciences during the fourth quarter worth $1,301,624,000. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Gilead Sciences Price Performance

GILD stock opened at $79.17 on Tuesday. The firm has a market cap of $98.57 billion, a price-to-earnings ratio of 219.92, a PEG ratio of 2.73 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 company’s fifty day simple moving average is $74.27 and its 200 day simple moving average is $70.59.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share (EPS) 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 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, analysts expect that Gilead Sciences, Inc. will post 3.78 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.77 per share. The ex-dividend date is Friday, September 13th. This represents a $3.08 annualized dividend and a dividend yield of 3.89%. Gilead Sciences’s dividend payout ratio is currently 855.56%.

Insider Activity

In other news, insider Johanna Mercier sold 5,490 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other 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 transaction of $137,260.00. Following the transaction, the insider now owns 96,380 shares in the company, valued at $6,614,559.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 completion of the sale, the insider now owns 114,979 shares in the company, valued at approximately $8,506,146.42. The disclosure for this sale can be found here. Company insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GILD. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $70.00 target price on shares of Gilead Sciences in a research note on Monday. Evercore ISI raised shares of Gilead Sciences to a “strong-buy” rating in a research note on Friday, August 9th. BMO Capital Markets boosted their target price on shares of Gilead Sciences from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a research note 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 objective on the stock in a research note on Monday, July 8th. Twelve analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $81.25.

Gilead Sciences Company 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.