Handelsbanken Fonder AB Has $122.68 Million Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Handelsbanken Fonder AB increased its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 85.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,094,880 shares of the biopharmaceutical company's stock after purchasing an additional 504,724 shares during the period. Handelsbanken Fonder AB owned 0.09% of Gilead Sciences worth $122,681,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of GILD. Brighton Jones LLC raised its holdings in Gilead Sciences by 20.6% in the 4th 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 during the last quarter. Golden State Wealth Management LLC acquired a new position in Gilead Sciences in the 4th quarter valued at $70,000. Vest Financial LLC raised its holdings in Gilead Sciences by 14.6% in the 4th quarter. Vest Financial LLC now owns 5,989 shares of the biopharmaceutical company's stock valued at $553,000 after acquiring an additional 762 shares during the last quarter. Kingsview Wealth Management LLC raised its holdings in Gilead Sciences by 110.9% in the 4th quarter. Kingsview Wealth Management LLC now owns 42,014 shares of the biopharmaceutical company's stock valued at $3,881,000 after acquiring an additional 22,091 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB raised its holdings in Gilead Sciences by 6.8% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 19,933 shares of the biopharmaceutical company's stock valued at $1,841,000 after acquiring an additional 1,273 shares during the last quarter. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GILD. Bank of America boosted their price target on Gilead Sciences from $116.00 to $126.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. Royal Bank of Canada upped their price objective on Gilead Sciences from $84.00 to $90.00 and gave the stock a "sector perform" rating in a report on Wednesday, February 12th. The Goldman Sachs Group upped their price objective on Gilead Sciences from $85.00 to $96.00 and gave the stock a "neutral" rating in a report on Wednesday, February 12th. Morgan Stanley upped 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. Finally, JPMorgan Chase & Co. lifted their price objective on Gilead Sciences from $120.00 to $130.00 and gave the company an "overweight" rating in a research note on Thursday, March 27th. Nine investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $110.55.

Insider Buying and Selling at Gilead Sciences

In other Gilead Sciences news, insider Johanna Mercier sold 28,000 shares of Gilead Sciences stock in a transaction that occurred on 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 transaction, the insider now directly owns 121,152 shares in the company, valued at approximately $13,026,263.04. The trade was a 18.77% decrease in their position. The transaction 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 Gilead Sciences stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $99.82, for a total transaction of $249,550.00. Following the transaction, the chief financial officer now owns 165,674 shares in the company, valued at approximately $16,537,578.68. The trade was a 1.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,000 shares of company stock worth $4,630,310. 0.27% of the stock is owned by company insiders.

Gilead Sciences Stock Performance

GILD traded down $0.79 on Wednesday, hitting $109.30. 6,413,391 shares of the company's stock were exchanged, compared to its average volume of 7,741,190. The firm has a market cap of $135.96 billion, a PE ratio of 295.41, a P/E/G ratio of 0.71 and a beta of 0.29. Gilead Sciences, Inc. has a twelve month low of $62.69 and a twelve month high of $119.96. The stock has a fifty day moving average of $105.36 and a two-hundred day moving average of $101.86. The company has a current ratio of 1.50, a quick ratio of 1.20 and a debt-to-equity ratio of 1.24.

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

Gilead Sciences Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a $0.79 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $3.16 annualized dividend and a dividend yield of 2.89%. Gilead Sciences's payout ratio is currently 66.53%.

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.