Atle Fund Management AB Buys Shares of 76,998 Gilead Sciences, Inc. (NASDAQ:GILD)

Atle Fund Management AB acquired a new stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 76,998 shares of the biopharmaceutical company's stock, valued at approximately $8,628,000. Gilead Sciences makes up about 3.8% of Atle Fund Management AB's portfolio, making the stock its 9th biggest holding.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Oppenheimer reduced 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 note on Friday, April 25th. Morgan Stanley lifted their target price on shares of Gilead Sciences from $130.00 to $135.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. JPMorgan Chase & Co. upped their price objective on shares of Gilead Sciences from $120.00 to $130.00 and gave the company an "overweight" rating in a research note on Thursday, March 27th. Cantor Fitzgerald initiated coverage on shares of Gilead Sciences in a report on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 price target for the company. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Gilead Sciences in a research note on Wednesday, May 21st. Nine analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $111.38.

Insider Buying and Selling

In related news, insider Johanna Mercier sold 28,000 shares of the firm's stock in a transaction dated 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 completion of the sale, the insider directly owned 121,152 shares of the company's stock, valued at approximately $13,026,263.04. This trade represents a 18.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Andrew D. Dickinson sold 2,500 shares of Gilead Sciences stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $111.03, for a total value of $277,575.00. Following the completion of the transaction, the chief financial officer directly owned 162,610 shares of the company's stock, valued at approximately $18,054,588.30. This represents a 1.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 72,000 shares of company stock worth $7,844,775 in the last quarter. 0.27% of the stock is currently owned by insiders.

Gilead Sciences Stock Down 0.5%

Shares of GILD traded down $0.58 during mid-day trading on Friday, hitting $108.22. 6,627,889 shares of the company traded hands, compared to its average volume of 7,673,118. Gilead Sciences, Inc. has a 1-year low of $70.78 and a 1-year high of $119.96. 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 company has a market capitalization of $134.62 billion, a PE ratio of 22.78, a price-to-earnings-growth ratio of 0.70 and a beta of 0.29. The business has a 50 day moving average of $108.81 and a 200 day moving average of $105.17.

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 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 analysts' expectations of $6.77 billion. During the same quarter last year, the company earned ($1.32) EPS. The business's revenue was down .3% on a year-over-year basis. Equities research analysts anticipate that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Dividend Announcement

The business 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 was Friday, June 13th. This represents a $3.16 annualized dividend and a dividend yield of 2.92%. Gilead Sciences's dividend payout ratio is presently 66.53%.

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.