E Fund Management Co. Ltd. Increases Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Key Points

• E Fund Management Co. Ltd. increased its holdings in Gilead Sciences by 46.6%, now owning 46,594 shares valued at approximately $5.22 million.
• The firm declared a quarterly dividend of $0.79 per share to be paid on September 29th, representing a 2.6% dividend yield.
• Gilead recently reported earnings of $2.01 per share for the quarter, exceeding analysts’ expectations, with revenues of $7.08 billion for the same period.

E Fund Management Co. Ltd. grew its stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 46.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,594 shares of the biopharmaceutical company's stock after buying an additional 14,820 shares during the period. E Fund Management Co. Ltd.'s holdings in Gilead Sciences were worth $5,221,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Financial Network Wealth Advisors LLC grew its stake in Gilead Sciences by 538.6% during the first quarter. Financial Network Wealth Advisors LLC now owns 364 shares of the biopharmaceutical company's stock worth $41,000 after purchasing an additional 307 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its stake in Gilead Sciences by 5.0% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 39,221 shares of the biopharmaceutical company's stock worth $4,395,000 after purchasing an additional 1,867 shares during the period. S Bank Fund Management Ltd bought a new position in Gilead Sciences in the first quarter worth approximately $161,000. National Pension Service grew its stake in Gilead Sciences by 6.9% in the first quarter. National Pension Service now owns 3,473,373 shares of the biopharmaceutical company's stock valued at $389,191,000 after acquiring an additional 223,171 shares during the period. Finally, GKV Capital Management Co. Inc. acquired a new stake in Gilead Sciences in the first quarter valued at approximately $267,000. Institutional investors and hedge funds own 83.67% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on GILD shares. Truist Financial raised Gilead Sciences from a "hold" rating to a "buy" rating and raised their price objective for the company from $108.00 to $127.00 in a research note on Friday, August 8th. Oppenheimer reduced their price objective 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. Cantor Fitzgerald started coverage on Gilead Sciences in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $125.00 price objective for the company. 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, August 8th. Finally, Morgan Stanley raised their price objective on Gilead Sciences from $130.00 to $135.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Seven investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $114.82.

Insider Transactions at Gilead Sciences

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 2,500 shares of the firm's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $111.03, for a total value of $277,575.00. Following the completion of the sale, the chief financial officer directly owned 162,610 shares of the company's stock, valued at $18,054,588.30. This trade represents a 1.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Johanna Mercier sold 3,000 shares of the firm's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $111.03, for a total value of $333,090.00. Following the completion of the sale, the insider directly owned 117,168 shares of the company's stock, valued at $13,009,163.04. This represents a 2.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 79,500 shares of company stock valued at $8,734,625. Corporate insiders own 0.27% of the company's stock.

Gilead Sciences Stock Performance

Gilead Sciences stock traded down $1.12 during mid-day trading on Thursday, reaching $119.02. 5,461,007 shares of the company's stock were exchanged, compared to its average volume of 6,342,033. The business's fifty day simple moving average is $111.76 and its 200 day simple moving average is $108.16. The firm has a market capitalization of $147.68 billion, a PE ratio of 23.71, a P/E/G ratio of 0.74 and a beta of 0.33. Gilead Sciences, Inc. has a one year low of $72.89 and a one year high of $121.83. The company has a quick ratio of 1.15, a current ratio of 1.32 and a debt-to-equity ratio of 1.13.

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

Gilead Sciences Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Monday, September 15th. Gilead Sciences's dividend payout ratio (DPR) is currently 62.95%.

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.