Engineers Gate Manager LP Acquires Shares of 112,886 Gilead Sciences, Inc. $GILD

Key Points

• Engineers Gate Manager LP acquired 112,886 Gilead Sciences shares worth approximately $14.3 million in the second quarter. Institutional investors collectively own 83.67% of the company.
• Analysts maintain a generally positive outlook, with Gilead receiving a “Moderate Buy” consensus rating and an average price target of $158.04; recent targets range from $123 to $165.
• Gilead’s latest quarterly revenue rose 10.6% year over year to $7.8 billion and exceeded estimates, while the company declared a quarterly dividend of $0.82 per share, representing a 2.3% yield.

Engineers Gate Manager LP purchased a new stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 112,886 shares of the biopharmaceutical company's stock, valued at approximately $14,262,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GILD. Brighton Jones LLC grew its stake in shares of Gilead Sciences by 20.6% during the fourth quarter. Brighton Jones LLC now owns 14,359 shares of the biopharmaceutical company's stock valued at $1,326,000 after acquiring an additional 2,450 shares in the last quarter. Bison Wealth LLC acquired a new stake in Gilead Sciences during the 4th quarter valued at approximately $215,000. Sivia Capital Partners LLC grew its stake in Gilead Sciences by 16.8% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,182 shares of the biopharmaceutical company's stock valued at $464,000 after purchasing an additional 602 shares in the last quarter. Ieq Capital LLC increased its holdings in Gilead Sciences by 12.0% during the 2nd quarter. Ieq Capital LLC now owns 118,695 shares of the biopharmaceutical company's stock worth $13,160,000 after purchasing an additional 12,705 shares during the last quarter. Finally, Diversify Advisory Services LLC increased its holdings in Gilead Sciences by 18.6% during the 2nd quarter. Diversify Advisory Services LLC now owns 4,296 shares of the biopharmaceutical company's stock worth $516,000 after purchasing an additional 674 shares during the last quarter. Hedge funds and other institutional investors own 83.67% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on GILD. Royal Bank Of Canada increased their target price on Gilead Sciences from $120.00 to $123.00 and gave the company a "sector perform" rating in a research note on Wednesday, August 5th. Barclays dropped their price target on shares of Gilead Sciences from $155.00 to $145.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 29th. Maxim Group upgraded shares of Gilead Sciences from a "hold" rating to a "buy" rating and set a $165.00 price objective on the stock in a research note on Wednesday, May 20th. Truist Financial decreased their price objective on shares of Gilead Sciences from $157.00 to $156.00 and set a "buy" rating for the company in a report on Tuesday, July 7th. Finally, HSBC raised shares of Gilead Sciences from a "hold" rating to a "buy" rating and boosted their target price for the stock from $133.00 to $155.00 in a research report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $158.04.

Gilead Sciences Stock Down 0.7%

GILD stock opened at $145.65 on Thursday. The firm has a market cap of $180.60 billion, a price-to-earnings ratio of -54.55 and a beta of 0.33. Gilead Sciences, Inc. has a 1-year low of $108.46 and a 1-year high of $157.29. The firm has a fifty day moving average price of $137.96 and a two-hundred day moving average price of $136.28. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 1.09.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The biopharmaceutical company reported ($6.75) earnings per share (EPS) for the quarter, topping 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 company had revenue of $7.80 billion for the quarter, compared to the consensus estimate of $7.40 billion. During the same period last year, the firm posted $2.01 EPS. The company's revenue for the quarter was up 10.6% on a year-over-year basis. Research analysts predict that Gilead Sciences, Inc. will post -0.48 EPS for the current year.

Gilead Sciences Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be paid a dividend of $0.82 per share. The ex-dividend date is Tuesday, September 15th. This represents a $3.28 annualized dividend and a yield of 2.3%. Gilead Sciences's dividend payout ratio is -122.85%.

Insider Transactions at Gilead Sciences

In other news, Director Jeffrey Bluestone sold 5,000 shares of the stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $145.02, for a total transaction of $725,100.00. Following the sale, the director directly owned 10,066 shares in the company, valued at approximately $1,459,771.32. This represents a 33.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Andrew D. Dickinson sold 3,000 shares of the firm's stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $138.36, for a total value of $415,080.00. Following the completion of the sale, the chief financial officer directly owned 165,646 shares in the company, valued at approximately $22,918,780.56. This trade represents a 1.78% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 105,000 shares of company stock valued at $14,495,820 over the last ninety days. Insiders own 0.30% of the company's stock.

Gilead Sciences Profile

Gilead Sciences, Inc is a biopharmaceutical company that discovers, develops and commercializes medicines for serious and life-threatening diseases. The company's research focuses primarily on virology, oncology, inflammation and related areas, with products serving patients in the United States and international markets.

Gilead is best known for its HIV treatments, including Biktarvy, Genvoya, Descovy and other antiretroviral therapies. Its portfolio also includes medicines for viral hepatitis, such as Epclusa and Vemlidy, and Veklury (remdesivir), an antiviral treatment for COVID-19.

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