AlphaCore Capital LLC Has $759,000 Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

AlphaCore Capital LLC boosted its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 7.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,844 shares of the biopharmaceutical company’s stock after acquiring an additional 695 shares during the period. AlphaCore Capital LLC’s holdings in Gilead Sciences were worth $759,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GILD. Sanctuary Wealth Management L.L.C. bought a new stake in shares of Gilead Sciences during the second quarter worth approximately $30,000. Steward Financial Group LLC bought a new stake in shares of Gilead Sciences during the 2nd quarter valued at $31,000. Venturi Wealth Management LLC bought a new position in shares of Gilead Sciences in the 1st quarter worth $36,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Gilead Sciences during the first quarter worth $36,000. Finally, Western Pacific Wealth Management LP increased its holdings in Gilead Sciences by 1,640.6% in the first quarter. Western Pacific Wealth Management LP now owns 557 shares of the biopharmaceutical company’s stock valued at $46,000 after purchasing an additional 525 shares during the last quarter. 82.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Andrew D. Dickinson sold 5,000 shares of the business’s stock in a transaction on Tuesday, October 17th. The shares were sold at an average price of $80.00, for a total transaction of $400,000.00. Following the transaction, the chief financial officer now directly owns 104,003 shares in the company, valued at $8,320,240. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, insider Merdad Parsey sold 1,501 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $76.99, for a total value of $115,561.99. Following the completion of the sale, the insider now directly owns 70,130 shares of the company’s stock, valued at $5,399,308.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Andrew D. Dickinson sold 5,000 shares of Gilead Sciences stock in a transaction that occurred on Tuesday, October 17th. The stock was sold at an average price of $80.00, for a total value of $400,000.00. Following the transaction, the chief financial officer now owns 104,003 shares of the company’s stock, valued at $8,320,240. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on GILD shares. Morgan Stanley boosted their target price on Gilead Sciences from $86.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Friday, August 4th. Bank of America raised shares of Gilead Sciences from a “neutral” rating to a “buy” rating and upped their target price for the company from $88.00 to $95.00 in a research note on Friday, September 8th. Cantor Fitzgerald reduced their price target on shares of Gilead Sciences from $85.00 to $80.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 19th. Barclays lowered their price objective on shares of Gilead Sciences from $81.00 to $80.00 and set an “equal weight” rating for the company in a research report on Monday, July 24th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Gilead Sciences in a report on Thursday, November 9th. They set a “hold” rating and a $75.00 target price on the stock. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Gilead Sciences presently has a consensus rating of “Hold” and an average price target of $88.22.

Gilead Sciences Stock Performance

Shares of GILD opened at $74.72 on Wednesday. The stock has a market capitalization of $93.10 billion, a price-to-earnings ratio of 16.03, a PEG ratio of 0.85 and a beta of 0.32. Gilead Sciences, Inc. has a 12 month low of $72.87 and a 12 month high of $89.74. The firm has a fifty day simple moving average of $76.81 and a 200 day simple moving average of $77.38. The company has a current ratio of 1.34, a quick ratio of 1.20 and a debt-to-equity ratio of 1.08.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported $2.29 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.38. The company had revenue of $7.05 billion during the quarter, compared to the consensus estimate of $6.81 billion. Gilead Sciences had a net margin of 21.45% and a return on equity of 39.30%. The company’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the prior year, the business posted $1.90 EPS. Research analysts forecast that Gilead Sciences, Inc. will post 6.76 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Friday, December 15th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date is Thursday, December 14th. Gilead Sciences’s dividend payout ratio is currently 64.38%.

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, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of coronavirus disease 2019; and Epclusa, Harvoni, Vosevi, Vemlidy, and Viread for the treatment of viral hepatitis.