Gilead Sciences, Inc. (NASDAQ:GILD) Shares Sold by Forsta AP Fonden

Key Points

• Forsta AP Fonden reduced its stake in Gilead Sciences by 14.1%, owning 336,900 shares valued at $37.75 million after selling 55,200 shares in the first quarter.
• Vanguard Group recently increased its holdings in Gilead Sciences by 1.7%, owning over 117 million shares valued at approximately $13.16 billion after buying 1.94 million shares.
• Gilead Sciences reported $2.01 earnings per share for the last quarter, beating estimates and showing a 1.4% increase in revenue compared to the prior year.

Forsta AP Fonden lowered its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 14.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 336,900 shares of the biopharmaceutical company's stock after selling 55,200 shares during the period. Forsta AP Fonden's holdings in Gilead Sciences were worth $37,750,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. NBW Capital LLC acquired a new position in shares of Gilead Sciences during the first quarter worth $228,000. Savvy Advisors Inc. increased its position in shares of Gilead Sciences by 25.2% during the first quarter. Savvy Advisors Inc. now owns 2,925 shares of the biopharmaceutical company's stock worth $328,000 after purchasing an additional 589 shares in the last quarter. National Bank of Canada FI increased its position in shares of Gilead Sciences by 7.1% during the first quarter. National Bank of Canada FI now owns 1,626,250 shares of the biopharmaceutical company's stock worth $182,217,000 after purchasing an additional 107,964 shares in the last quarter. AlphaCore Capital LLC increased its position in shares of Gilead Sciences by 1.6% during the first quarter. AlphaCore Capital LLC now owns 9,685 shares of the biopharmaceutical company's stock worth $1,085,000 after purchasing an additional 154 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Gilead Sciences by 12.3% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,309,885 shares of the biopharmaceutical company's stock worth $258,823,000 after purchasing an additional 253,695 shares in the last quarter. Hedge funds and other institutional investors own 83.67% of the company's stock.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, insider Johanna Mercier sold 3,000 shares of the stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $111.03, for a total value of $333,090.00. Following the sale, the insider directly owned 117,168 shares in the company, valued at approximately $13,009,163.04. This trade represents a 2.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Daniel Patrick O'day sold 10,000 shares of the firm's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $113.94, for a total transaction 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. Over the last 90 days, insiders sold 82,000 shares of company stock worth $8,984,175. Corporate insiders own 0.27% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. UBS Group upped their target price on Gilead Sciences from $108.00 to $112.00 and gave the company a "neutral" rating in a research report on Friday. Cantor Fitzgerald started coverage on Gilead Sciences in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $125.00 target price on the stock. Morgan Stanley increased 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. Royal Bank Of Canada increased their price target on Gilead Sciences from $96.00 to $98.00 and gave the stock a "sector perform" rating in a research report on Friday. Finally, Truist Financial raised Gilead Sciences from a "hold" rating to a "buy" rating and increased their price target for the stock from $108.00 to $127.00 in a research report on Friday. Seven investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $114.82.

Gilead Sciences Trading Up 8.3%

Shares of GILD stock traded up $9.13 on Friday, hitting $119.41. The stock had a trading volume of 13,112,190 shares, compared to its average volume of 5,807,634. The company's 50 day moving average price is $110.93 and its 200-day moving average price is $107.53. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.37 and a quick ratio of 1.23. Gilead Sciences, Inc. has a 1 year low of $72.43 and a 1 year high of $121.38. The firm has a market capitalization of $148.54 billion, a P/E ratio of 23.79, a P/E/G ratio of 0.75 and a beta of 0.33.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.05. Gilead Sciences had a return on equity of 51.45% and a net margin of 21.86%. The company had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $6.95 billion. During the same period in the previous year, the firm posted $2.01 EPS. Gilead Sciences's revenue was up 1.4% on a year-over-year basis. Analysts anticipate that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be paid a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.6%. Gilead Sciences's dividend payout ratio (DPR) is 62.95%.

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.