Commonwealth Retirement Investments LLC Buys New Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Commonwealth Retirement Investments LLC acquired a new position in Gilead Sciences, Inc. (NASDAQ:GILD) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 22,682 shares of the biopharmaceutical company’s stock, valued at approximately $1,556,000.

Other large investors have also added to or reduced their stakes in the company. Sivia Capital Partners LLC acquired a new stake in Gilead Sciences in the second quarter valued at $214,000. Lloyd Advisory Services LLC. acquired a new stake in Gilead Sciences in the 2nd quarter valued at about $238,000. New York Life Investment Management LLC lifted its stake in Gilead Sciences by 1.0% in the 2nd quarter. New York Life Investment Management LLC now owns 192,242 shares of the biopharmaceutical company’s stock valued at $13,190,000 after purchasing an additional 1,965 shares during the last quarter. Wellington Shields Capital Management LLC grew its holdings in Gilead Sciences by 141.7% during the second quarter. Wellington Shields Capital Management LLC now owns 5,076 shares of the biopharmaceutical company’s stock worth $348,000 after purchasing an additional 2,976 shares during the period. Finally, Farmers & Merchants Investments Inc. increased its position in Gilead Sciences by 2.3% during the second quarter. Farmers & Merchants Investments Inc. now owns 8,661 shares of the biopharmaceutical company’s stock worth $594,000 after buying an additional 194 shares during the last quarter. Institutional investors and hedge funds own 83.67% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on GILD. Raymond James upgraded shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 target price for the company in a research note on Monday, July 8th. Evercore ISI upgraded Gilead Sciences to a “strong-buy” rating in a report on Friday, August 9th. BMO Capital Markets increased their target price on Gilead Sciences from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Cantor Fitzgerald restated a “neutral” rating and issued a $70.00 price target on shares of Gilead Sciences in a research note on Friday, August 9th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a research report on Thursday, August 15th. Twelve analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Gilead Sciences has a consensus rating of “Moderate Buy” and a consensus price target of $82.06.

Gilead Sciences Stock Performance

NASDAQ GILD opened at $78.72 on Friday. The company has a market capitalization of $98.07 billion, a price-to-earnings ratio of 218.67, a PEG ratio of 2.74 and a beta of 0.18. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $87.86. The stock has a fifty day simple moving average of $74.06 and a 200 day simple moving average of $70.57. 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 (NASDAQ:GILD) last issued its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share (EPS) 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 the consensus estimate of $6.64 billion. Sell-side analysts expect that Gilead Sciences, Inc. will post 3.78 EPS for the current year.

Gilead Sciences Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors 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 dividend on an annualized basis and a yield of 3.91%. Gilead Sciences’s dividend payout ratio (DPR) is presently 855.56%.

Insider Buying and Selling at Gilead Sciences

In related news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction on 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 sale, the insider now owns 96,380 shares of the company’s stock, valued at approximately $6,614,559.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $6,614,559.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Johanna Mercier sold 5,490 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total value of $406,150.20. Following the completion of the sale, the insider now owns 114,979 shares of the company’s stock, valued at $8,506,146.42. The disclosure for this sale can be found here. 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.