Gilead Sciences, Inc. (NASDAQ:GILD) Shares Bought by Abacus FCF Advisors LLC

Abacus FCF Advisors LLC grew its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 28.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 162,186 shares of the biopharmaceutical company's stock after buying an additional 36,309 shares during the period. Gilead Sciences accounts for approximately 2.9% of Abacus FCF Advisors LLC's holdings, making the stock its 6th biggest position. Abacus FCF Advisors LLC's holdings in Gilead Sciences were worth $18,173,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. FMR LLC lifted its position in Gilead Sciences by 21.6% during the fourth quarter. FMR LLC now owns 40,319,432 shares of the biopharmaceutical company's stock valued at $3,724,306,000 after purchasing an additional 7,157,113 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Gilead Sciences by 3.1% during the 4th quarter. Wellington Management Group LLP now owns 35,659,007 shares of the biopharmaceutical company's stock valued at $3,293,822,000 after buying an additional 1,058,331 shares during the period. Geode Capital Management LLC grew its holdings in shares of Gilead Sciences by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 28,289,917 shares of the biopharmaceutical company's stock worth $2,608,337,000 after acquiring an additional 749,047 shares during the period. Norges Bank bought a new position in Gilead Sciences in the fourth quarter valued at about $1,789,254,000. Finally, Northern Trust Corp boosted its position in Gilead Sciences by 19.7% in the fourth quarter. Northern Trust Corp now owns 14,915,095 shares of the biopharmaceutical company's stock worth $1,377,707,000 after purchasing an additional 2,458,954 shares during the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Piper Sandler boosted their price objective on shares of Gilead Sciences from $105.00 to $110.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Cantor Fitzgerald assumed coverage on shares of Gilead Sciences in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $125.00 price target for the company. Royal Bank of Canada increased their price objective on shares of Gilead Sciences from $84.00 to $90.00 and gave the stock a "sector perform" rating in a research note on Wednesday, February 12th. The Goldman Sachs Group lifted their target price on shares of Gilead Sciences from $85.00 to $96.00 and gave the company a "neutral" rating in a research note on Wednesday, February 12th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Gilead Sciences in a report on Wednesday, May 21st. Nine investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $110.55.

Insider Activity at Gilead Sciences

In related news, CEO Daniel Patrick O'day sold 10,000 shares of the company's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $110.42, for a total transaction of $1,104,200.00. Following the sale, the chief executive officer now directly owns 620,268 shares in the company, valued at approximately $68,489,992.56. This represents a 1.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Andrew D. Dickinson sold 2,500 shares of Gilead Sciences stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $99.82, for a total transaction of $249,550.00. Following the completion of the transaction, the chief financial officer now owns 165,674 shares of the company's stock, valued at $16,537,578.68. This represents a 1.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,000 shares of company stock worth $4,630,310 in the last three months. 0.27% of the stock is owned by company insiders.

Gilead Sciences Trading Down 0.7%

Shares of Gilead Sciences stock traded down $0.79 during trading hours on Wednesday, hitting $109.30. The company's stock had a trading volume of 6,413,391 shares, compared to its average volume of 7,741,190. The firm has a fifty day moving average of $105.36 and a 200-day moving average of $101.86. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.20 and a current ratio of 1.50. The stock has a market cap of $135.96 billion, a price-to-earnings ratio of 295.41, a P/E/G ratio of 0.71 and a beta of 0.29. Gilead Sciences, Inc. has a twelve month low of $62.69 and a twelve month high of $119.96.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.81 EPS for the quarter, topping the consensus estimate of $1.77 by $0.04. The firm had revenue of $6.67 billion for the quarter, compared to analyst estimates of $6.77 billion. Gilead Sciences had a net margin of 1.67% and a return on equity of 31.63%. The business's revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the prior year, the business posted ($1.32) EPS. Research analysts forecast that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 2.89%. The ex-dividend date is Friday, June 13th. Gilead Sciences's payout ratio is 66.53%.

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.