Fountainhead AM LLC Takes $493,000 Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Fountainhead AM LLC purchased a new position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,401 shares of the biopharmaceutical company's stock, valued at approximately $493,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GILD. Norges Bank purchased a new position in Gilead Sciences during the fourth quarter valued at $1,789,254,000. FMR LLC lifted its position in Gilead Sciences by 21.6% during the fourth quarter. FMR LLC now owns 40,319,432 shares of the biopharmaceutical company's stock valued at $3,724,306,000 after buying an additional 7,157,113 shares during the period. GAMMA Investing LLC lifted its position in Gilead Sciences by 13,891.1% during the first quarter. GAMMA Investing LLC now owns 2,550,298 shares of the biopharmaceutical company's stock valued at $285,761,000 after buying an additional 2,532,070 shares during the period. Northern Trust Corp lifted its position in Gilead Sciences by 19.7% during the fourth quarter. Northern Trust Corp now owns 14,915,095 shares of the biopharmaceutical company's stock valued at $1,377,707,000 after buying an additional 2,458,954 shares during the period. Finally, Royal Bank of Canada lifted its position in Gilead Sciences by 30.1% during the fourth quarter. Royal Bank of Canada now owns 8,678,751 shares of the biopharmaceutical company's stock valued at $801,655,000 after buying an additional 2,005,863 shares during the period. Hedge funds and other institutional investors own 83.67% of the company's stock.

Insider Transactions at Gilead Sciences

In related news, CFO Andrew D. Dickinson sold 2,500 shares of the company's 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 completion of the sale, the chief financial officer directly owned 162,610 shares in the company, valued at $18,054,588.30. This represents a 1.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Johanna Mercier sold 28,000 shares of the company's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $107.52, for a total value of $3,010,560.00. Following the sale, the insider owned 121,152 shares of the company's stock, valued at $13,026,263.04. This trade represents a 18.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 72,000 shares of company stock worth $7,844,775 over the last quarter. 0.27% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GILD. JPMorgan Chase & Co. lifted their price target on Gilead Sciences from $120.00 to $130.00 and gave the stock an "overweight" rating in a research report on Thursday, March 27th. Oppenheimer lowered their price target on Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Needham & Company LLC reaffirmed a "hold" rating on shares of Gilead Sciences in a research report on Wednesday, May 21st. Cantor Fitzgerald began coverage on Gilead Sciences in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $125.00 price target for the company. Finally, Morgan Stanley lifted their price target on Gilead Sciences from $130.00 to $135.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Nine equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, Gilead Sciences has an average rating of "Moderate Buy" and a consensus price target of $111.38.

Gilead Sciences Price Performance

Shares of GILD traded down $0.58 during mid-day trading on Friday, hitting $108.22. 6,627,889 shares of the stock were exchanged, compared to its average volume of 7,673,118. The firm has a 50-day moving average of $108.81 and a two-hundred day moving average of $105.26. Gilead Sciences, Inc. has a 52-week low of $70.78 and a 52-week high of $119.96. The company has a market cap of $134.62 billion, a PE ratio of 22.78, a price-to-earnings-growth ratio of 0.70 and a beta of 0.29. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.23 and a current ratio of 1.37.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.77 by $0.04. The company had revenue of $6.67 billion for the quarter, compared to the consensus estimate of $6.77 billion. Gilead Sciences had a net margin of 20.76% and a return on equity of 51.93%. The firm's revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.32) EPS. On average, equities analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date was Friday, June 13th. Gilead Sciences's payout ratio is 66.53%.

Gilead Sciences 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.