Gilead Sciences, Inc. (NASDAQ:GILD) Shares Acquired by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. has increased its stake in Gilead Sciences by 25.1%, owning approximately 1.25 million shares worth $140 million.
• Gilead recently announced a quarterly dividend of $0.79 per share, representing an annualized yield of 2.6%.
• The company reported quarterly earnings of $2.01 per share, which exceeded analysts' expectations of $1.96, with revenue of $7.08 billion.

Russell Investments Group Ltd. increased its stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 25.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,249,867 shares of the biopharmaceutical company's stock after buying an additional 250,538 shares during the quarter. Russell Investments Group Ltd. owned about 0.10% of Gilead Sciences worth $140,022,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Redwood Financial Network Corp grew its stake in shares of Gilead Sciences by 4.0% in the fourth quarter. Redwood Financial Network Corp now owns 2,530 shares of the biopharmaceutical company's stock valued at $234,000 after buying an additional 98 shares in the last quarter. Argentarii LLC boosted its holdings in Gilead Sciences by 3.0% in the first quarter. Argentarii LLC now owns 3,392 shares of the biopharmaceutical company's stock valued at $380,000 after purchasing an additional 99 shares during the last quarter. Peak Financial Advisors LLC boosted its holdings in Gilead Sciences by 1.7% in the first quarter. Peak Financial Advisors LLC now owns 6,040 shares of the biopharmaceutical company's stock valued at $677,000 after purchasing an additional 100 shares during the last quarter. Perkins Coie Trust Co boosted its holdings in Gilead Sciences by 2.6% in the first quarter. Perkins Coie Trust Co now owns 3,880 shares of the biopharmaceutical company's stock valued at $435,000 after purchasing an additional 100 shares during the last quarter. Finally, Investment Research & Advisory Group Inc. boosted its holdings in Gilead Sciences by 33.3% in the first quarter. Investment Research & Advisory Group Inc. now owns 400 shares of the biopharmaceutical company's stock valued at $45,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 83.67% of the company's stock.

Gilead Sciences Price Performance

Shares of NASDAQ:GILD opened at $120.47 on Tuesday. Gilead Sciences, Inc. has a fifty-two week low of $72.43 and a fifty-two week high of $121.38. The business has a 50-day moving average of $111.16 and a two-hundred day moving average of $107.83. The stock has a market capitalization of $149.48 billion, a P/E ratio of 24.00, a P/E/G ratio of 0.75 and a beta of 0.33. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.32 and a quick ratio of 1.15.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, topping analysts' consensus estimates of $1.96 by $0.05. Gilead Sciences had a return on equity of 50.99% and a net margin of 21.86%. The company had revenue of $7.08 billion during the quarter, compared to analysts' expectations of $6.95 billion. During the same quarter in the previous year, the firm earned $2.01 earnings per share. The business's quarterly revenue was up 1.4% compared to the same quarter last year. On average, equities 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. Investors of record on Monday, September 15th will be paid a dividend of $0.79 per share. The ex-dividend date is Monday, September 15th. This represents a $3.16 annualized dividend and a yield of 2.6%. Gilead Sciences's dividend payout ratio is presently 62.95%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Royal Bank Of Canada increased their price target on Gilead Sciences from $96.00 to $98.00 and gave the company a "sector perform" rating in a report on Friday. Morgan Stanley increased their price target on Gilead Sciences from $130.00 to $135.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Needham & Company LLC raised Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 price target for the company in a report on Friday, July 25th. Cantor Fitzgerald initiated coverage on Gilead Sciences in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $125.00 target price for the company. Finally, UBS Group lifted their target price on Gilead Sciences from $108.00 to $112.00 and gave the stock a "neutral" rating in a research report on Friday. Seven analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $114.82.

Insiders Place Their Bets

In related news, insider Johanna Mercier sold 3,000 shares of the stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $111.03, for a total transaction of $333,090.00. Following the completion of the sale, the insider owned 117,168 shares in the company, valued at $13,009,163.04. This represents a 2.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Daniel Patrick O'day sold 10,000 shares of the company's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $113.94, for a total value of $1,139,400.00. Following the completion of the transaction, the chief executive officer directly owned 605,725 shares of the company's stock, valued at approximately $69,016,306.50. This trade represents a 1.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 82,000 shares of company stock worth $8,984,175 in the last 90 days. 0.27% of the stock is owned by company insiders.

About Gilead Sciences

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.

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