GAMMA Investing LLC Buys 2,532,070 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

GAMMA Investing LLC raised its holdings in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 13,891.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,550,298 shares of the biopharmaceutical company's stock after purchasing an additional 2,532,070 shares during the period. GAMMA Investing LLC owned approximately 0.20% of Gilead Sciences worth $285,761,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of GILD. Norges Bank bought a new stake in Gilead Sciences during the fourth quarter valued at $1,789,254,000. FMR LLC lifted its holdings in shares of Gilead Sciences by 21.6% in the fourth quarter. FMR LLC now owns 40,319,432 shares of the biopharmaceutical company's stock valued at $3,724,306,000 after purchasing an additional 7,157,113 shares in the last quarter. Northern Trust Corp lifted its holdings 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 worth $1,377,707,000 after acquiring an additional 2,458,954 shares during the period. Raymond James Financial Inc. bought a new position in shares of Gilead Sciences during the 4th quarter valued at approximately $207,340,000. Finally, Royal Bank of Canada boosted 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 worth $801,655,000 after purchasing an additional 2,005,863 shares during the period. Institutional investors and hedge funds own 83.67% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GILD. Cantor Fitzgerald began coverage on Gilead Sciences in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 price objective on the stock. Morgan Stanley increased their price objective on Gilead Sciences from $130.00 to $135.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Wells Fargo & Company raised their target price on Gilead Sciences from $120.00 to $140.00 and gave the company an "overweight" rating in a research note on Wednesday, March 5th. Bank of America lifted their price objective on Gilead Sciences from $116.00 to $126.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Gilead Sciences in a report on Wednesday, May 21st. Nine investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $110.55.

Insider Transactions at Gilead Sciences

In related news, CEO Daniel Patrick O'day sold 10,000 shares of the business's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $110.42, for a total value of $1,104,200.00. Following the sale, the chief executive officer now owns 620,268 shares in the company, valued at approximately $68,489,992.56. The trade was a 1.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Andrew D. Dickinson sold 2,500 shares of the firm's stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $106.40, for a total value of $266,000.00. Following the completion of the sale, the chief financial officer now directly owns 168,174 shares of the company's stock, valued at $17,893,713.60. The trade was a 1.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 60,929 shares of company stock worth $6,748,980 over the last three months. 0.27% of the stock is currently owned by company insiders.

Gilead Sciences Price Performance

GILD stock traded up $0.16 during mid-day trading on Wednesday, hitting $109.49. 2,672,304 shares of the stock were exchanged, compared to its average volume of 7,709,869. The business has a fifty day moving average price of $105.45 and a 200 day moving average price of $101.10. Gilead Sciences, Inc. has a 12 month low of $62.69 and a 12 month high of $119.96. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.50 and a quick ratio of 1.20. The stock has a market capitalization of $136.20 billion, a price-to-earnings ratio of 295.92, a PEG ratio of 0.71 and a beta of 0.26.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.04. Gilead Sciences had a return on equity of 31.63% and a net margin of 1.67%. The business had revenue of $6.67 billion for the quarter, compared to analyst estimates of $6.77 billion. During the same period last year, the company earned ($1.32) EPS. Gilead Sciences's revenue for the quarter was down .3% compared to the same quarter last year. On average, sell-side analysts anticipate that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 2.89%. The ex-dividend date is Friday, June 13th. Gilead Sciences's dividend payout ratio (DPR) is currently 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.