Artemis Investment Management LLP Invests $9.36 Million in Gilead Sciences, Inc. (NASDAQ:GILD)

Artemis Investment Management LLP purchased a new stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 83,554 shares of the biopharmaceutical company's stock, valued at approximately $9,362,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of GILD. Norges Bank acquired a new position in Gilead Sciences during the 4th quarter worth about $1,789,254,000. FMR LLC lifted its position in Gilead Sciences by 21.6% during the 4th 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. GAMMA Investing LLC raised its position in shares of Gilead Sciences by 13,891.1% in the 1st quarter. GAMMA Investing LLC now owns 2,550,298 shares of the biopharmaceutical company's stock valued at $285,761,000 after acquiring an additional 2,532,070 shares during the period. Northern Trust Corp raised its position in shares of Gilead Sciences by 19.7% in the 4th quarter. Northern Trust Corp now owns 14,915,095 shares of the biopharmaceutical company's stock valued at $1,377,707,000 after acquiring an additional 2,458,954 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Gilead Sciences in the 4th quarter valued at approximately $207,340,000. Institutional investors own 83.67% of the company's stock.

Insider Transactions at Gilead Sciences

In related news, CEO Daniel Patrick O'day sold 10,000 shares of the firm's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $110.42, for a total value of $1,104,200.00. Following the transaction, the chief executive officer now owns 620,268 shares in the company, valued at approximately $68,489,992.56. This trade represents a 1.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Johanna Mercier sold 3,000 shares of Gilead Sciences stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $110.17, for a total value of $330,510.00. Following the completion of the transaction, the insider now owns 120,168 shares in the company, valued at approximately $13,238,908.56. This represents a 2.44% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,500 shares of company stock valued at $5,236,245. 0.27% of the stock is currently owned by corporate insiders.

Gilead Sciences Stock Performance

Gilead Sciences stock traded up $3.05 during mid-day trading on Friday, hitting $110.67. 19,541,254 shares of the company's stock traded hands, compared to its average volume of 7,682,147. The firm has a 50 day simple moving average of $106.39 and a two-hundred day simple moving average of $103.35. Gilead Sciences, Inc. has a fifty-two week low of $66.01 and a fifty-two week high of $119.96. The stock has a market cap of $137.67 billion, a price-to-earnings ratio of 23.30, a P/E/G ratio of 0.72 and a beta of 0.29. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.37 and a quick ratio of 1.23.

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

Gilead Sciences Dividend Announcement

The company also recently announced 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. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date was Friday, June 13th. Gilead Sciences's dividend payout ratio is currently 66.53%.

Analysts Set New Price Targets

GILD has been the subject of a number of research reports. Wells Fargo & Company increased their target price on Gilead Sciences from $120.00 to $140.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 5th. Bank of America increased their target price on Gilead Sciences from $116.00 to $126.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. Morgan Stanley increased their target price on Gilead Sciences from $130.00 to $135.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. JPMorgan Chase & Co. increased their target price on Gilead Sciences from $120.00 to $130.00 and gave the stock an "overweight" rating in a research note on Thursday, March 27th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Gilead Sciences in a research note on Wednesday, May 21st. Nine equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently 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.