Thoroughbred Financial Services LLC Takes $520,000 Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Key Points

• Thoroughbred Financial Services LLC has acquired a new stake in Gilead Sciences, Inc. valued at approximately $520,000, purchasing 4,642 shares in the 1st quarter.
• Gilead Sciences' stock recently rose by 8.3% to $119.41, with a market capitalization of $148.54 billion and a PE ratio of 23.79.
• The company announced a quarterly dividend of $0.79 per share, representing a yield of 2.6%, with the payment date set for September 29th.

Thoroughbred Financial Services LLC acquired a new stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 4,642 shares of the biopharmaceutical company's stock, valued at approximately $520,000.

Several other institutional investors have also modified their holdings of GILD. Smallwood Wealth Investment Management LLC bought a new stake in shares of Gilead Sciences during the 1st quarter worth approximately $25,000. Goodman Advisory Group LLC bought a new stake in shares of Gilead Sciences during the 1st quarter worth approximately $29,000. Core Alternative Capital lifted its stake in shares of Gilead Sciences by 370.8% during the 1st quarter. Core Alternative Capital now owns 306 shares of the biopharmaceutical company's stock worth $34,000 after acquiring an additional 241 shares during the last quarter. IMA Advisory Services Inc. bought a new stake in shares of Gilead Sciences during the 1st quarter worth approximately $39,000. Finally, Clearstead Trust LLC lifted its stake in shares of Gilead Sciences by 287.6% during the 1st quarter. Clearstead Trust LLC now owns 376 shares of the biopharmaceutical company's stock worth $42,000 after acquiring an additional 279 shares during the last quarter. 83.67% of the stock is owned by institutional investors.

Gilead Sciences Stock Up 8.3%

Shares of NASDAQ:GILD traded up $9.13 on Friday, reaching $119.41. The company had a trading volume of 13,112,190 shares, compared to its average volume of 5,807,634. Gilead Sciences, Inc. has a 52-week low of $72.43 and a 52-week high of $121.38. The firm's 50 day simple moving average is $110.93 and its 200-day simple moving average is $107.43. The firm has a market capitalization of $148.54 billion, a PE ratio of 23.79, a PEG ratio of 0.70 and a beta of 0.33. The company has a current ratio of 1.37, a quick ratio of 1.23 and a debt-to-equity ratio of 1.16.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced its earnings results on Thursday, August 7th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.05. Gilead Sciences had a return on equity of 51.45% and a net margin of 21.86%. The firm had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $6.95 billion. During the same period in the previous year, the business earned $2.01 EPS. The firm's revenue for the quarter was up 1.4% on a year-over-year basis. As a group, analysts expect that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 2.6%. The ex-dividend date is Monday, September 15th. Gilead Sciences's payout ratio is 66.53%.

Analyst Ratings Changes

A number of brokerages recently issued reports on GILD. Royal Bank Of Canada raised their price target on Gilead Sciences from $96.00 to $98.00 and gave the stock a "sector perform" rating in a research note on Friday. Oppenheimer decreased their price target on Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Needham & Company LLC raised Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 price target for the company in a research note on Friday, July 25th. Cantor Fitzgerald started coverage on Gilead Sciences in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 target price for the company. Finally, UBS Group lifted their target price on Gilead Sciences from $108.00 to $112.00 and gave the company a "neutral" rating in a research report on Friday. Seven analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, Gilead Sciences has an average rating of "Moderate Buy" and an average price target of $114.82.

Insiders Place Their Bets

In related news, insider Johanna Mercier sold 28,000 shares of the business's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $107.52, for a total transaction of $3,010,560.00. Following the transaction, the insider directly owned 121,152 shares in the company, valued at $13,026,263.04. The trade was a 18.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Andrew D. Dickinson sold 2,500 shares of the business's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $111.03, for a total value of $277,575.00. Following the transaction, the chief financial officer owned 162,610 shares in the company, valued at approximately $18,054,588.30. This trade represents a 1.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 82,000 shares of company stock valued at $8,984,175 in the last 90 days. Corporate insiders own 0.27% of the company's stock.

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, 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.