121,844,108 Shares in Gilead Sciences, Inc. $GILD Purchased by BlackRock Inc.

Key Points

• BlackRock acquired 121.8 million Gilead Sciences shares worth approximately $15.4 billion, giving it a 9.81% stake. Institutional investors and hedge funds collectively own 83.67% of the company.
• Analyst sentiment remains favorable, with 24 Buy ratings and five Holds; Gilead has a consensus “Moderate Buy” rating and an average price target of $158.04.
• Gilead reported quarterly revenue of $7.8 billion, exceeding expectations, and announced a quarterly dividend of $0.82 per share, representing a 2.4% annualized yield. Insiders sold 51,000 shares worth $6.57 million over the past 90 days.

BlackRock Inc. purchased a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 121,844,108 shares of the biopharmaceutical company's stock, valued at approximately $15,393,785,000. BlackRock Inc. owned approximately 9.81% of Gilead Sciences at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Gilead Sciences during the fourth quarter worth about $25,000. Persistent Asset Partners Ltd purchased a new position in Gilead Sciences in the 2nd quarter valued at about $25,000. Vermillion & White Wealth Management Group LLC boosted its holdings in Gilead Sciences by 71.4% in the 4th quarter. Vermillion & White Wealth Management Group LLC now owns 204 shares of the biopharmaceutical company's stock worth $25,000 after buying an additional 85 shares during the last quarter. Quattro Advisors LLC acquired a new stake in Gilead Sciences in the 4th quarter worth about $26,000. Finally, Wealth Preservation Advisors LLC increased its stake in Gilead Sciences by 60.0% during the 4th quarter. Wealth Preservation Advisors LLC now owns 216 shares of the biopharmaceutical company's stock worth $27,000 after buying an additional 81 shares in the last quarter. 83.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on GILD shares. Morgan Stanley lowered their target price on shares of Gilead Sciences from $166.00 to $165.00 and set an "overweight" rating on the stock in a research note on Monday, July 27th. Rothschild & Co Redburn reduced their target price on shares of Gilead Sciences from $170.00 to $167.00 in a research report on Monday, May 11th. Wall Street Zen raised shares of Gilead Sciences from a "hold" rating to a "buy" rating in a research note on Saturday. Needham & Company LLC restated a "buy" rating and set a $170.00 price target on shares of Gilead Sciences in a research report on Wednesday, August 5th. Finally, Maxim Group raised shares of Gilead Sciences from a "hold" rating to a "buy" rating and set a $165.00 price objective for the company in a research note on Wednesday, May 20th. Twenty-four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $158.04.

Insiders Place Their Bets

In related news, insider Johanna Mercier sold 3,000 shares of the firm's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $123.92, for a total transaction of $371,760.00. Following the completion of the transaction, the insider directly owned 124,234 shares in the company, valued at $15,395,077.28. This trade represents a 2.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Andrew D. Dickinson sold 3,000 shares of the firm's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $125.40, for a total value of $376,200.00. Following the transaction, the chief financial officer owned 171,646 shares of the company's stock, valued at $21,524,408.40. This trade represents a 1.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 51,000 shares of company stock valued at $6,568,860 over the last 90 days. 0.30% of the stock is owned by company insiders.

Gilead Sciences Price Performance

Shares of GILD stock opened at $138.92 on Tuesday. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 1.09. The firm's 50-day moving average is $130.33 and its two-hundred day moving average is $136.43. Gilead Sciences, Inc. has a 12 month low of $108.46 and a 12 month high of $157.29. The company has a market capitalization of $172.25 billion, a PE ratio of -52.03 and a beta of 0.32.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The biopharmaceutical company reported ($6.75) EPS for the quarter, beating the consensus estimate of ($7.25) by $0.50. The firm had revenue of $7.80 billion for the quarter, compared to analyst estimates of $7.40 billion. Gilead Sciences had a negative net margin of 10.64% and a negative return on equity of 2.11%. The business's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.01 EPS. Analysts predict that Gilead Sciences, Inc. will post -0.53 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, September 15th. Gilead Sciences's dividend payout ratio (DPR) is -122.85%.

Gilead Sciences Profile

Gilead Sciences, Inc, founded in 1987 and headquartered in Foster City, California, is a biopharmaceutical company focused on the discovery, development and commercialization of medicines in areas of high unmet medical need. The company initially built its reputation in antiviral therapies and has since expanded into oncology, cell therapy and inflammatory diseases. Gilead operates a global research and commercial organization, conducting clinical development and selling medicines in markets around the world.

Gilead's product portfolio is anchored by antiviral therapies for HIV and viral hepatitis.

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