Charles Schwab Investment Management Inc. Grows Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Gilead Sciences by 0.2% during Q1, holding approximately $898 million worth of shares.
• Institutional investors own a significant 83.67% of Gilead Sciences, reflecting strong confidence in the company's performance.
• Gilead's shares recently traded down 1.9%, with analysts maintaining an average rating of "Moderate Buy" and a target price of $112.36.

Charles Schwab Investment Management Inc. boosted its position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 0.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,015,530 shares of the biopharmaceutical company's stock after purchasing an additional 12,751 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.64% of Gilead Sciences worth $898,140,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of GILD. Redwood Financial Network Corp boosted its position in Gilead Sciences by 4.0% in the fourth quarter. Redwood Financial Network Corp now owns 2,530 shares of the biopharmaceutical company's stock worth $234,000 after purchasing an additional 98 shares during the last quarter. Argentarii LLC grew its position in shares of Gilead Sciences by 3.0% in the 1st quarter. Argentarii LLC now owns 3,392 shares of the biopharmaceutical company's stock worth $380,000 after buying an additional 99 shares during the last quarter. Peak Financial Advisors LLC increased its stake in shares of Gilead Sciences by 1.7% in the 1st quarter. Peak Financial Advisors LLC now owns 6,040 shares of the biopharmaceutical company's stock worth $677,000 after acquiring an additional 100 shares in the last quarter. Perkins Coie Trust Co grew its stake in shares of Gilead Sciences by 2.6% in the first quarter. Perkins Coie Trust Co now owns 3,880 shares of the biopharmaceutical company's stock worth $435,000 after acquiring an additional 100 shares during the last quarter. Finally, Investment Research & Advisory Group Inc. grew its stake in shares of Gilead Sciences by 33.3% in the first quarter. Investment Research & Advisory Group Inc. now owns 400 shares of the biopharmaceutical company's stock worth $45,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 83.67% of the company's stock.

Analyst Upgrades and Downgrades

GILD has been the subject of several recent analyst reports. Oppenheimer decreased their price target on 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 increased their price target on Gilead Sciences from $130.00 to $135.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. UBS Group raised their price objective on Gilead Sciences from $108.00 to $112.00 and gave the company a "neutral" rating in a research note on Friday. Cantor Fitzgerald began coverage on Gilead Sciences in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 price target on the stock. Finally, Truist Financial raised Gilead Sciences from a "hold" rating to a "buy" rating and raised their price objective for the stock from $108.00 to $127.00 in a research report on Friday. Seven research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $114.82.

Gilead Sciences Stock Performance

Shares of NASDAQ GILD traded down $0.56 during mid-day trading on Monday, hitting $118.85. The company had a trading volume of 2,574,498 shares, compared to its average volume of 8,384,469. The firm has a market cap of $147.47 billion, a P/E ratio of 23.74, a PEG ratio of 0.75 and a beta of 0.33. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.32 and a quick ratio of 1.15. Gilead Sciences, Inc. has a 12 month low of $72.43 and a 12 month high of $121.38. The business's 50-day simple moving average is $110.93 and its 200-day simple moving average is $107.64.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, topping analysts' consensus estimates of $1.96 by $0.05. Gilead Sciences had a net margin of 21.86% and a return on equity of 50.99%. The company had revenue of $7.08 billion for the quarter, compared to analysts' expectations of $6.95 billion. During the same period last year, the firm posted $2.01 earnings per share. The business's quarterly revenue was up 1.4% compared to the same quarter last year. As a group, analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Monday, September 15th. Gilead Sciences's dividend payout ratio is currently 62.95%.

Insider Activity at Gilead Sciences

In other news, Director Jeffrey Bluestone sold 5,000 shares of the firm's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $109.74, for a total transaction of $548,700.00. Following the completion of the transaction, the director owned 8,920 shares of the company's stock, valued at approximately $978,880.80. This trade represents a 35.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Andrew D. Dickinson sold 2,500 shares of the stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $111.03, for a total transaction of $277,575.00. Following the sale, the chief financial officer owned 162,610 shares of the company's stock, valued at approximately $18,054,588.30. This trade represents a 1.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 82,000 shares of company stock valued at $8,984,175 in the last quarter. 0.27% of the stock is owned by company insiders.

About Gilead Sciences

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.