Element Capital Management LLC Invests $2.80 Million in Gilead Sciences, Inc. $GILD

Key Points

• Element Capital Management LLC has invested approximately $2.80 million in Gilead Sciences, acquiring nearly 25,000 shares, making it the fund's 18th largest holding.
• Gilead Sciences recently reported an earnings per share (EPS) of $2.01, exceeding estimates, with quarterly revenue of $7.08 billion, a 1.4% increase year-over-year.
• The company is set to pay a quarterly dividend of $0.79 on September 29th, representing an annualized dividend yield of 2.7%.

Element Capital Management LLC bought a new stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The fund bought 24,959 shares of the biopharmaceutical company's stock, valued at approximately $2,797,000. Gilead Sciences makes up 0.7% of Element Capital Management LLC's portfolio, making the stock its 18th largest position.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Nuveen LLC bought a new stake in Gilead Sciences during the first quarter worth about $620,415,000. GAMMA Investing LLC boosted its holdings 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 worth $285,761,000 after acquiring an additional 2,532,070 shares in the last quarter. Northern Trust Corp grew its position in Gilead Sciences by 19.7% during the 4th quarter. Northern Trust Corp now owns 14,915,095 shares of the biopharmaceutical company's stock worth $1,377,707,000 after acquiring an additional 2,458,954 shares during the last quarter. Los Angeles Capital Management LLC increased its holdings in Gilead Sciences by 422.6% during the 1st quarter. Los Angeles Capital Management LLC now owns 2,523,036 shares of the biopharmaceutical company's stock valued at $282,706,000 after purchasing an additional 2,040,261 shares in the last quarter. Finally, Royal Bank of Canada raised its position in Gilead Sciences by 30.1% in the 4th quarter. Royal Bank of Canada now owns 8,678,751 shares of the biopharmaceutical company's stock valued at $801,655,000 after purchasing an additional 2,005,863 shares during the last quarter. Institutional investors own 83.67% of the company's stock.

Analysts Set New Price Targets

GILD has been the topic of several research analyst reports. Oppenheimer decreased their target price on Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Royal Bank Of Canada upped their price target on shares of Gilead Sciences from $96.00 to $98.00 and gave the stock a "sector perform" rating in a research report on Friday, August 8th. 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 objective on the stock. Morgan Stanley boosted their target price on shares of Gilead Sciences from $130.00 to $135.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Finally, Truist Financial raised shares of Gilead Sciences from a "hold" rating to a "buy" rating and increased their price target for the company from $108.00 to $127.00 in a research note on Friday, August 8th. Seven investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Gilead Sciences currently has a consensus rating of "Moderate Buy" and a consensus target price of $114.82.

Insiders Place Their Bets

In related news, CEO Daniel Patrick O'day sold 10,000 shares of the stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $113.94, for a total transaction of $1,139,400.00. Following the completion of the sale, the chief executive officer directly owned 605,725 shares of the company's stock, valued at approximately $69,016,306.50. This represents a 1.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Johanna Mercier sold 28,000 shares of Gilead Sciences stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $107.52, for a total transaction of $3,010,560.00. Following the completion of the transaction, the insider directly owned 121,152 shares in the company, valued at approximately $13,026,263.04. The trade was a 18.77% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 82,000 shares of company stock valued at $9,030,950 in the last three months. Insiders own 0.27% of the company's stock.

Gilead Sciences Trading Down 0.3%

Shares of NASDAQ:GILD traded down $0.38 during mid-day trading on Monday, reaching $117.99. The stock had a trading volume of 4,474,821 shares, compared to its average volume of 6,512,909. The firm has a 50 day simple moving average of $111.88 and a two-hundred day simple moving average of $108.50. Gilead Sciences, Inc. has a twelve month low of $73.27 and a twelve month high of $121.83. The firm has a market cap of $146.40 billion, a PE ratio of 23.50, a price-to-earnings-growth ratio of 0.73 and a beta of 0.33. The company has a current ratio of 1.32, a quick ratio of 1.15 and a debt-to-equity ratio of 1.13.

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

Gilead Sciences Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be paid 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 payout ratio is presently 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.