USA Financial Formulas raised its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 45.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 24,318 shares of the biopharmaceutical company's stock after acquiring an additional 7,654 shares during the quarter. Gilead Sciences makes up 0.4% of USA Financial Formulas' investment portfolio, making the stock its 12th biggest holding. USA Financial Formulas' holdings in Gilead Sciences were worth $2,725,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in GILD. CX Institutional boosted its holdings in shares of Gilead Sciences by 6.8% in the 1st quarter. CX Institutional now owns 68,647 shares of the biopharmaceutical company's stock valued at $7,692,000 after buying an additional 4,360 shares in the last quarter. MV Capital Management Inc. boosted its stake in Gilead Sciences by 20.7% in the first quarter. MV Capital Management Inc. now owns 7,563 shares of the biopharmaceutical company's stock valued at $847,000 after acquiring an additional 1,297 shares in the last quarter. Integrated Advisors Network LLC grew its holdings in shares of Gilead Sciences by 7.6% during the first quarter. Integrated Advisors Network LLC now owns 8,138 shares of the biopharmaceutical company's stock worth $912,000 after purchasing an additional 574 shares during the last quarter. Franklin Street Advisors Inc. NC grew its holdings in shares of Gilead Sciences by 8.7% during the first quarter. Franklin Street Advisors Inc. NC now owns 7,552 shares of the biopharmaceutical company's stock worth $846,000 after purchasing an additional 602 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its position in shares of Gilead Sciences by 85.5% during the first quarter. Handelsbanken Fonder AB now owns 1,094,880 shares of the biopharmaceutical company's stock worth $122,681,000 after purchasing an additional 504,724 shares in the last quarter. Hedge funds and other institutional investors own 83.67% of the company's stock.
Gilead Sciences Price Performance
Gilead Sciences stock traded up $1.25 during mid-day trading on Thursday, reaching $110.55. The company had a trading volume of 2,405,143 shares, compared to its average volume of 7,720,826. The stock's 50-day simple moving average is $105.40 and its 200-day simple moving average is $101.91. Gilead Sciences, Inc. has a 1 year low of $62.69 and a 1 year 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 company has a market capitalization of $137.52 billion, a P/E ratio of 298.78, a P/E/G ratio of 0.71 and a beta of 0.29.
Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $6.77 billion. During the same quarter in the prior year, the firm posted ($1.32) EPS. The company's revenue was down .3% compared to the same quarter last year. On average, equities analysts predict 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. Stockholders of record on Friday, June 13th will be paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend is Friday, June 13th. Gilead Sciences's dividend payout ratio (DPR) is presently 66.53%.
Insider Buying and Selling
In other Gilead Sciences news, insider Johanna Mercier sold 28,000 shares of Gilead Sciences stock in a transaction dated 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 now owns 121,152 shares in the company, valued at approximately $13,026,263.04. The trade was a 18.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Andrew D. Dickinson sold 2,500 shares of the stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $106.40, for a total transaction of $266,000.00. Following the completion of the sale, the chief financial officer now owns 168,174 shares in the company, valued at $17,893,713.60. This represents a 1.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,000 shares of company stock worth $4,630,310 in the last three months. Corporate insiders own 0.27% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on the company. Oppenheimer dropped their price target on Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Needham & Company LLC reissued a "hold" rating on shares of Gilead Sciences in a report on Wednesday, May 21st. Royal Bank of Canada upped their price target on shares of Gilead Sciences from $84.00 to $90.00 and gave the company a "sector perform" rating in a research report on Wednesday, February 12th. Cantor Fitzgerald assumed coverage on shares of Gilead Sciences in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $125.00 price objective on the stock. Finally, Piper Sandler increased their target price on shares of Gilead Sciences from $105.00 to $110.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. Nine investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, Gilead Sciences currently has an average rating of "Moderate Buy" and a consensus target price of $110.55.
Get Our Latest Stock Analysis on Gilead Sciences
Gilead Sciences Company Profile
(
Free Report)
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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