Ancora Advisors LLC Invests $15.35 Million in Gilead Sciences, Inc. $GILD

Key Points

• Ancora Advisors acquired 121,465 Gilead Sciences shares worth approximately $15.35 million in the second quarter. Institutional investors collectively own 83.67% of the company.
• Analyst sentiment remains favorable, with 24 Buy ratings and five Holds, producing a consensus rating of “Moderate Buy” and an average price target of $158.04.
• Gilead reported quarterly revenue of $7.8 billion, up 10.6% year over year and above estimates, while declaring a quarterly dividend of $0.82 per share, equivalent to a 2.2% annual yield.

Ancora Advisors LLC acquired a new stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 121,465 shares of the biopharmaceutical company's stock, valued at approximately $15,346,000.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Gilead Sciences during the second quarter worth $15,393,785,000. Norges Bank acquired a new stake in Gilead Sciences in the fourth quarter valued at approximately $2,617,152,000. Legal & General Group Plc purchased a new stake in Gilead Sciences in the 2nd quarter worth $1,316,606,000. Deutsche Bank AG purchased a new stake in shares of Gilead Sciences during the second quarter worth about $918,387,000. Finally, Boston Partners acquired a new position in shares of Gilead Sciences during the fourth quarter valued at approximately $517,808,000. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on GILD. Cantor Fitzgerald restated an "overweight" rating and set a $155.00 price target on shares of Gilead Sciences in a research report on Wednesday, August 5th. Truist Financial decreased their target price on shares of Gilead Sciences from $157.00 to $156.00 and set a "buy" rating on the stock in a research report on Tuesday, July 7th. Leerink Partners cut Gilead Sciences from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from $146.00 to $127.00 in a research note on Tuesday, July 21st. Needham & Company LLC reaffirmed a "buy" rating and set a $170.00 target price on shares of Gilead Sciences in a research note on Wednesday, August 5th. Finally, Daiwa Securities Group reduced their price target on Gilead Sciences from $161.00 to $150.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 19th. Twenty-four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $158.04.

Insiders Place Their Bets

In other news, CEO Daniel Patrick O'day sold 15,000 shares of Gilead Sciences stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $130.31, for a total transaction of $1,954,650.00. Following the completion of the sale, the chief executive officer directly owned 592,133 shares in the company, valued at approximately $77,160,851.23. This trade represents a 2.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Andrew D. Dickinson sold 3,000 shares of the business's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $138.36, for a total transaction of $415,080.00. Following the completion of the sale, the chief financial officer owned 165,646 shares in the company, valued at $22,918,780.56. This represents a 1.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 87,000 shares of company stock valued at $11,562,960 in the last three months. 0.30% of the stock is owned by corporate insiders.

Gilead Sciences Stock Up 1.4%

Shares of NASDAQ:GILD opened at $148.77 on Wednesday. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 1.09. Gilead Sciences, Inc. has a 1-year low of $108.46 and a 1-year high of $157.29. The firm has a fifty day moving average price of $132.85 and a 200 day moving average price of $136.59. The stock has a market cap of $184.47 billion, a P/E ratio of -55.72 and a beta of 0.32.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The biopharmaceutical company reported ($6.75) EPS for the quarter, beating the consensus estimate of ($7.25) by $0.50. Gilead Sciences had a negative return on equity of 2.11% and a negative net margin of 10.64%.The firm had revenue of $7.80 billion during the quarter, compared to the consensus estimate of $7.40 billion. During the same period in the prior year, the business earned $2.01 EPS. The firm's revenue was up 10.6% compared to the same quarter last year. Sell-side analysts predict that Gilead Sciences, Inc. will post -0.5 EPS for the current year.

Gilead Sciences Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be given a $0.82 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $3.28 dividend on an annualized basis and a yield of 2.2%. Gilead Sciences's dividend payout ratio (DPR) is presently -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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