Bullseye Investment Management LLC Takes Position in Gilead Sciences, Inc. $GILD

Bullseye Investment Management LLC bought a new position in Gilead Sciences, Inc. (NASDAQ:GILD) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 16,506 shares of the biopharmaceutical company’s stock, valued at approximately $2,085,000. Gilead Sciences accounts for 1.0% of Bullseye Investment Management LLC’s investment portfolio, making the stock its 19th biggest position.

Several other large investors have also recently modified their holdings of the stock. Brighton Jones LLC raised its stake in shares of Gilead Sciences by 20.6% in the fourth quarter. Brighton Jones LLC now owns 14,359 shares of the biopharmaceutical company’s stock valued at $1,326,000 after acquiring an additional 2,450 shares during the period. Bison Wealth LLC bought a new stake in shares of Gilead Sciences in the 4th quarter worth about $215,000. Sivia Capital Partners LLC boosted its stake in shares of Gilead Sciences by 16.8% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,182 shares of the biopharmaceutical company’s stock worth $464,000 after purchasing an additional 602 shares during the period. Ieq Capital LLC grew its holdings in Gilead Sciences by 12.0% during the 2nd quarter. Ieq Capital LLC now owns 118,695 shares of the biopharmaceutical company’s stock valued at $13,160,000 after purchasing an additional 12,705 shares during the last quarter. Finally, Diversify Advisory Services LLC grew its holdings in Gilead Sciences by 18.6% during the 2nd quarter. Diversify Advisory Services LLC now owns 4,296 shares of the biopharmaceutical company’s stock valued at $516,000 after purchasing an additional 674 shares during the last quarter. Institutional investors own 83.67% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on GILD. Weiss Ratings downgraded shares of Gilead Sciences from a “buy (b-)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. Wall Street Zen downgraded Gilead Sciences from a “buy” rating to a “hold” rating in a report on Saturday, September 5th. HSBC raised their price target on Gilead Sciences from $155.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday. Morgan Stanley dropped their price objective on Gilead Sciences from $166.00 to $165.00 and set an “overweight” rating for the company in a report on Monday, July 27th. Finally, Barclays reduced their target price on Gilead Sciences from $155.00 to $145.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Gilead Sciences has a consensus rating of “Moderate Buy” and an average price target of $158.78.

Insider Buying and Selling

In other news, Director Jeffrey Bluestone sold 5,000 shares of the business’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $145.02, for a total value of $725,100.00. Following the completion of the sale, the director owned 10,066 shares in the company, valued at approximately $1,459,771.32. The trade was a 33.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel O’Day sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $148.64, for a total transaction of $2,229,600.00. Following the completion of the sale, the chief executive officer directly owned 577,133 shares of the company’s stock, valued at $85,785,049.12. The trade was a 2.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 105,000 shares of company stock valued at $14,495,820 over the last quarter. 0.30% of the stock is owned by company insiders.

Gilead Sciences Trading Down 0.8%

Shares of NASDAQ:GILD traded down $1.09 during trading on Friday, reaching $143.72. 4,202,380 shares of the company were exchanged, compared to its average volume of 6,943,158. The business’s fifty day simple moving average is $138.24 and its 200-day simple moving average is $136.23. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 1.09. Gilead Sciences, Inc. has a 12-month low of $108.46 and a 12-month high of $157.29. The firm has a market capitalization of $178.21 billion, a PE ratio of -53.83 and a beta of 0.33.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Monday, August 3rd. The biopharmaceutical company reported ($6.75) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($7.25) by $0.50. The firm had revenue of $7.80 billion during the quarter, compared to analyst estimates of $7.40 billion. Gilead Sciences had a negative return on equity of 2.11% and a negative net margin of 10.64%.Gilead Sciences’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.01 earnings per share. On average, research analysts anticipate that Gilead Sciences, Inc. will post -0.48 EPS for the current year.

Gilead Sciences Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be issued a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Tuesday, September 15th. Gilead Sciences’s payout ratio is presently -122.85%.

Gilead Sciences Profile

Gilead Sciences, Inc is a biopharmaceutical company that discovers, develops and commercializes medicines for serious and life-threatening diseases. The company’s research focuses primarily on virology, oncology, inflammation and related areas, with products serving patients in the United States and international markets.

Gilead is best known for its HIV treatments, including Biktarvy, Genvoya, Descovy and other antiretroviral therapies. Its portfolio also includes medicines for viral hepatitis, such as Epclusa and Vemlidy, and Veklury (remdesivir), an antiviral treatment for COVID-19.