Blue Trust Inc. increases stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Blue Trust Inc. increased its stake in Gilead Sciences, Inc. (NASDAQ:GILD – Free Report) by 280.3% during the second quarter, HoldingsChannel.com reports. The firm owned 4,712 shares of the biopharmaceutical company’s stock after acquiring an additional 3,473 shares during the period. Holdings of Blue Trust Inc. in Gilead Sciences were worth $345,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Private Wealth Management Group LLC purchased a new position in shares of Gilead Sciences in the fourth quarter valued at $29,000. Palisade Asset Management LLC acquired a new position in shares of Gilead Sciences in the first quarter valued at $29,000. Sachetta LLC acquired a new position in Gilead Sciences in the 4th quarter valued at $30,000. Gladius Capital Management LP purchased a new stake in Gilead Sciences in the fourth quarter valued at about $34,000. Finally, Frank Rimerman Advisors LLC acquired a new stake in Gilead Sciences during the 4th quarter valued at approximately $36,000. 83.67% of the shares are currently owned by institutional investors and hedge funds.

Analysts on Wall Street are forecasting an increase

GILD has been the subject of several research analyst reports. Truist Financial boosted their price objective on Gilead Sciences from $82.00 to $83.00 and gave the stock a “hold” rating in a research note on Thursday. Raymond James upgraded shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price objective for the company in a research note on Monday, July 8th. Cantor Fitzgerald restated a “neutral” rating and issued a $70.00 price objective on shares of Gilead Sciences in a research note on Friday, August 9th. Morgan Stanley cut their price target on shares of Gilead Sciences from $80.00 to $78.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Finally, Royal Bank of Canada increased their price target on Gilead Sciences from $71.00 to $72.00 and gave the stock a “sector perform” rating in a research report on Friday, 9 August. Twelve research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Moderate Buy” and a consensus price target of $81.94, according to MarketBeat.com.

Get our latest analysis on GILD

Insider buying and selling

In related news, insider Johanna Mercier sold 5,490 shares of Gilead Sciences stock in a transaction dated 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 directly owns 114,979 shares in the company, valued at approximately $8,506,146.42. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $68.63, for a total value of $137,260.00. Following the transaction, the insider now directly 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 via this link. Also, 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 disclosure for this sale can be found here. Insiders own 0.16% of the company’s shares.

Gilead Sciences trading fell 0.8%

Shares of GILD opened at $73.78 on Friday. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $87.86. The company has a market cap of $91.92 billion, a price-to-earnings ratio of 204.94, a PEG ratio of 3.37 and a beta of 0.18. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.08, and a quick ratio of 0.94. The stock has a 50-day simple moving average of $70.80 and a 200-day simple moving average of $70.26.

Gilead Sciences Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a dividend of $0.77 per share. The ex-dividend date is Friday, September 13. This represents a dividend of $3.08 on an annualized basis and a dividend yield of 4.17%. Gilead Sciences’ dividend payout ratio is currently 855.56%.

Gilead Sciences Company Profile

(Free Report)

Gilead Sciences, Inc, a biopharmaceutical company, discovers, develops and commercializes medicines in areas of unmet medical need in the United States, Europe and internationally. The company supplies Biktarvy, Genvoya, Descovy, Odefsey, Truvada, Complera/Eviplera, Stribild, Sunlencs and Atripla for the treatment of HIV/AIDS; Veklury, an intravenous injection for the treatment of COVID-19; and Epclusa, Harvoni, Vemlidy, and Viread for the treatment of viral hepatitis.

Featured stories

Want to see what other hedge funds own GILD? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for Gilead Sciences, Inc. (NASDAQ:GILD – Free Report).

Get news and reviews for Gilead Sciences Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Gilead Sciences and related companies with MarketBeat.com’s FREE daily email newsletter.