Seven Post Investment Office LP Invests $804,000 in Gilead Sciences, Inc. (NASDAQ:GILD)

Seven Post Investment Office LP purchased a new position in Gilead Sciences, Inc. (NASDAQ:GILD) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 11,712 shares of the biopharmaceutical company’s stock, valued at approximately $804,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. CarsonAllaria Wealth Management Ltd. increased its position in Gilead Sciences by 198.3% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 238 shares in the last quarter. Private Wealth Management Group LLC acquired a new stake in Gilead Sciences in the 4th quarter valued at $29,000. Palisade Asset Management LLC acquired a new position in Gilead Sciences during the first quarter worth $29,000. Sachetta LLC bought a new position in shares of Gilead Sciences in the fourth quarter valued at $30,000. Finally, Financial Connections Group Inc. acquired a new position in shares of Gilead Sciences during the second quarter valued at about $34,000. 83.67% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Royal Bank of Canada boosted their price objective on Gilead Sciences from $72.00 to $74.00 and gave the stock a “sector perform” rating in a report on Wednesday. Robert W. Baird restated a “neutral” rating and set a $80.00 price target on shares of Gilead Sciences in a report on Thursday, June 20th. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a research note on Thursday, August 15th. BMO Capital Markets boosted their price objective on Gilead Sciences from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $70.00 target price on shares of Gilead Sciences in a research note on Friday, August 9th. Twelve investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.06.

Insider Buying and Selling

In other Gilead Sciences news, insider Johanna Mercier sold 5,490 shares of Gilead Sciences stock in a transaction that occurred on 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 directly owns 114,979 shares of the company’s stock, valued at $8,506,146.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction that occurred on 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 owns 96,380 shares in the company, valued at $6,614,559.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Johanna Mercier sold 5,490 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total transaction of $406,150.20. Following the completion of the transaction, the insider now owns 114,979 shares in the company, valued at approximately $8,506,146.42. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by corporate insiders.

Gilead Sciences Stock Performance

NASDAQ GILD opened at $78.72 on Friday. The company’s 50 day simple moving average is $74.06 and its two-hundred day simple moving average is $70.57. The stock has a market capitalization of $98.07 billion, a PE ratio of 218.67, a P/E/G ratio of 2.74 and a beta of 0.18. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.14 and a quick ratio of 0.95. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $87.86.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 EPS 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 business had revenue of $6.95 billion during the quarter, compared to analysts’ expectations of $6.64 billion. Analysts predict that Gilead Sciences, Inc. will post 3.78 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The company 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 of this dividend is Friday, September 13th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.91%. Gilead Sciences’s dividend payout ratio is 855.56%.

About Gilead Sciences

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.