Elkhorn Partners Limited Partnership Purchases 4,700 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Elkhorn Partners Limited Partnership lifted its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 494.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,650 shares of the biopharmaceutical company’s stock after purchasing an additional 4,700 shares during the period. Gilead Sciences accounts for approximately 0.3% of Elkhorn Partners Limited Partnership’s investment portfolio, making the stock its 17th biggest holding. Elkhorn Partners Limited Partnership’s holdings in Gilead Sciences were worth $388,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in GILD. CarsonAllaria Wealth Management Ltd. increased its stake 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 during the period. Sachetta LLC acquired a new stake in shares of Gilead Sciences in the 4th quarter valued at $30,000. Palisade Asset Management LLC acquired a new stake in shares of Gilead Sciences in the 1st quarter valued at $29,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Gilead Sciences in the 4th quarter valued at $36,000. Finally, Fortis Group Advisors LLC boosted its holdings in shares of Gilead Sciences by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 492 shares of the biopharmaceutical company’s stock valued at $40,000 after purchasing an additional 246 shares in the last quarter. Institutional investors own 83.67% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on GILD. Robert W. Baird reissued a “neutral” rating and set a $80.00 price objective on shares of Gilead Sciences in a report on Thursday, June 20th. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a report on Thursday, August 15th. BMO Capital Markets raised their price objective on Gilead Sciences from $80.00 to $85.00 and gave the company an “outperform” rating in a 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. Finally, Truist Financial raised their price objective on Gilead Sciences from $82.00 to $83.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Twelve 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.06.

Gilead Sciences Stock Performance

GILD stock opened at $83.05 on Wednesday. The stock has a 50-day moving average price of $76.09 and a 200-day moving average price of $71.00. 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. The firm has a market cap of $103.47 billion, a PE ratio of 230.69, a price-to-earnings-growth ratio of 2.80 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.40. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. The firm had revenue of $6.95 billion during the quarter, compared to analyst estimates of $6.64 billion. As a group, equities research analysts expect that Gilead Sciences, Inc. will post 3.78 earnings per share for the current year.

Gilead Sciences Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date of this dividend is Friday, September 13th. Gilead Sciences’s payout ratio is 855.56%.

Insider Activity at Gilead Sciences

In related news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $68.63, for a total value of $137,260.00. Following the completion of the sale, the insider now directly owns 96,380 shares of the company’s stock, valued at approximately $6,614,559.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $68.63, for a total value of $137,260.00. Following the completion of the sale, the insider now directly owns 96,380 shares of the company’s stock, valued at approximately $6,614,559.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Johanna Mercier sold 29,357 shares of Gilead Sciences 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 owns 78,127 shares of the company’s stock, valued at approximately $6,545,480.06. 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. Corporate insiders own 0.16% of the company’s stock.

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.