E. Ohman J or Asset Management AB Has $5.66 Million Stock Holdings in Gilead Sciences, Inc. $GILD

Key Points

• E. Ohman J or Asset Management AB cut its Gilead Sciences stake by 88.3% in the second quarter, selling 337,210 shares and retaining 44,792 shares valued at approximately $5.66 million. Institutional investors collectively own 83.67% of Gilead stock.
• Analyst sentiment remains positive, with Gilead receiving a consensus “Moderate Buy” rating and an average price target of $158.04; HSBC upgraded the stock to “buy” and raised its target to $155.
• Gilead reported quarterly revenue of $7.80 billion, up 10.6% year over year, and exceeded adjusted loss-per-share expectations. The company also declared a quarterly dividend of $0.82 per share, implying a 2.5% annualized yield.

E. Ohman J or Asset Management AB decreased its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 88.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,792 shares of the biopharmaceutical company's stock after selling 337,210 shares during the quarter. E. Ohman J or Asset Management AB's holdings in Gilead Sciences were worth $5,659,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of GILD. Paulson Wealth Management Inc. grew its holdings in shares of Gilead Sciences by 1.8% in the 4th quarter. Paulson Wealth Management Inc. now owns 3,887 shares of the biopharmaceutical company's stock valued at $477,000 after buying an additional 67 shares during the period. Essex Financial Services Inc. lifted its holdings in Gilead Sciences by 0.9% during the fourth quarter. Essex Financial Services Inc. now owns 7,724 shares of the biopharmaceutical company's stock worth $948,000 after acquiring an additional 71 shares in the last quarter. Davidson Trust Co. grew its stake in Gilead Sciences by 4.1% in the first quarter. Davidson Trust Co. now owns 1,879 shares of the biopharmaceutical company's stock valued at $262,000 after acquiring an additional 74 shares during the period. Alpha Cubed Investments LLC grew its stake in Gilead Sciences by 1.1% in the fourth quarter. Alpha Cubed Investments LLC now owns 6,619 shares of the biopharmaceutical company's stock valued at $812,000 after acquiring an additional 75 shares during the period. Finally, Moss Adams Wealth Advisors LLC increased its holdings in shares of Gilead Sciences by 1.7% in the fourth quarter. Moss Adams Wealth Advisors LLC now owns 4,446 shares of the biopharmaceutical company's stock worth $546,000 after acquiring an additional 76 shares in the last quarter. Institutional investors and hedge funds own 83.67% of the company's stock.

Analysts Set New Price Targets

GILD has been the topic of several recent analyst reports. HSBC upgraded Gilead Sciences from a "hold" rating to a "buy" rating and lifted their price objective for the company from $133.00 to $155.00 in a report on Monday, July 6th. Truist Financial lowered their target price on Gilead Sciences from $157.00 to $156.00 and set a "buy" rating for the company in a research note on Tuesday, July 7th. The Goldman Sachs Group lifted their price target on shares of Gilead Sciences from $125.00 to $130.00 and gave the company a "neutral" rating in a research note on Friday, April 17th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $155.00 price target on shares of Gilead Sciences in a report on Wednesday, August 5th. Finally, Wall Street Zen downgraded shares of Gilead Sciences from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Twenty-five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, Gilead Sciences currently has an average rating of "Moderate Buy" and a consensus price target of $158.04.

Gilead Sciences Stock Performance

Shares of GILD stock opened at $133.06 on Tuesday. Gilead Sciences, Inc. has a 12 month low of $108.46 and a 12 month high of $157.29. The company's fifty day simple moving average is $129.45 and its 200-day simple moving average is $136.34. The firm has a market cap of $165.20 billion, a PE ratio of -49.84 and a beta of 0.32. The company has a quick ratio of 1.09, a current ratio of 1.27 and a debt-to-equity ratio of 2.03.

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

Gilead Sciences Announces Dividend

The business also recently announced 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 of this dividend is Tuesday, September 15th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.5%. Gilead Sciences's payout ratio is currently -122.85%.

Insider Buying and Selling

In other news, CFO Andrew D. Dickinson sold 3,000 shares of the company's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $125.40, for a total transaction of $376,200.00. Following the sale, the chief financial officer owned 171,646 shares in the company, valued at $21,524,408.40. This represents a 1.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel Patrick O'day sold 15,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $130.31, for a total value of $1,954,650.00. Following the completion of the sale, the chief executive officer directly owned 592,133 shares of the company's stock, valued at approximately $77,160,851.23. The trade was a 2.47% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 82,000 shares of company stock worth $10,641,790. Corporate insiders own 0.30% of the company's stock.

Gilead Sciences Company 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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