Ninety One UK Ltd Invests $61.40 Million in Gilead Sciences, Inc. (NASDAQ:GILD)

Ninety One UK Ltd purchased a new stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 547,985 shares of the biopharmaceutical company's stock, valued at approximately $61,402,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bridgewater Associates LP boosted its holdings in shares of Gilead Sciences by 122.7% in the 4th quarter. Bridgewater Associates LP now owns 460,936 shares of the biopharmaceutical company's stock valued at $42,577,000 after buying an additional 253,994 shares during the period. Nissay Asset Management Corp Japan ADV boosted its holdings in shares of Gilead Sciences by 5.2% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 284,243 shares of the biopharmaceutical company's stock valued at $26,750,000 after buying an additional 14,009 shares during the period. Golden State Wealth Management LLC grew its position in Gilead Sciences by 14.5% in the 1st quarter. Golden State Wealth Management LLC now owns 863 shares of the biopharmaceutical company's stock worth $97,000 after purchasing an additional 109 shares during the last quarter. Ontario Teachers Pension Plan Board grew its position in Gilead Sciences by 54.6% in the 4th quarter. Ontario Teachers Pension Plan Board now owns 37,051 shares of the biopharmaceutical company's stock worth $3,422,000 after purchasing an additional 13,086 shares during the last quarter. Finally, Mufg Securities Americas Inc. bought a new position in Gilead Sciences in the 4th quarter worth about $1,699,000. 83.67% of the stock is owned by institutional investors and hedge funds.

Gilead Sciences Trading Down 0.6%

Shares of GILD stock traded down $0.72 during trading hours on Tuesday, reaching $111.06. 4,682,217 shares of the stock traded hands, compared to its average volume of 7,691,234. Gilead Sciences, Inc. has a 1-year low of $66.34 and a 1-year high of $119.96. The business has a fifty day moving average price of $107.12 and a 200 day moving average price of $104.25. The company has a quick ratio of 1.23, a current ratio of 1.37 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $138.15 billion, a PE ratio of 23.38, a PEG ratio of 0.72 and a beta of 0.29.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.77 by $0.04. Gilead Sciences had a net margin of 20.76% and a return on equity of 51.93%. The business had revenue of $6.67 billion for the quarter, compared to analyst estimates of $6.77 billion. During the same quarter in the previous year, the business earned ($1.32) earnings per share. The firm's revenue was down .3% compared to the same quarter last year. On average, equities research analysts forecast that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were issued a dividend of $0.79 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.85%. Gilead Sciences's dividend payout ratio is currently 66.53%.

Insider Activity

In other Gilead Sciences news, CEO Daniel Patrick O'day sold 10,000 shares of the company's stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $110.45, for a total value of $1,104,500.00. Following the transaction, the chief executive officer owned 615,725 shares in the company, valued at approximately $68,006,826.25. This represents a 1.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Andrew D. Dickinson sold 2,500 shares of the company's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $110.17, for a total transaction of $275,425.00. Following the completion of the transaction, the chief financial officer owned 165,110 shares in the company, valued at approximately $18,190,168.70. This represents a 1.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 58,500 shares of company stock worth $6,340,745 over the last 90 days. 0.27% of the stock is owned by company insiders.

Analyst Ratings Changes

GILD has been the subject of several recent analyst reports. Cantor Fitzgerald initiated coverage on shares of Gilead Sciences in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $125.00 target price for the company. Oppenheimer decreased their target price on shares of Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Needham & Company LLC restated a "hold" rating on shares of Gilead Sciences in a research report on Wednesday, May 21st. Morgan Stanley upped their target price on shares of Gilead Sciences from $130.00 to $135.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Finally, JPMorgan Chase & Co. upped their target price on shares of Gilead Sciences from $120.00 to $130.00 and gave the stock an "overweight" rating in a research report on Thursday, March 27th. Nine investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $110.55.

Gilead Sciences 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.