Forsta AP Fonden Has $37.75 Million Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

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 cut its stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 14.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Smallwood Wealth Investment Management LLC bought a new stake in Gilead Sciences during the first quarter worth approximately $25,000. Goodman Advisory Group LLC acquired a new position in shares of Gilead Sciences in the first quarter worth $29,000. Core Alternative Capital increased its stake in shares of Gilead Sciences by 370.8% in the first quarter. Core Alternative Capital now owns 306 shares of the biopharmaceutical company's stock worth $34,000 after acquiring an additional 241 shares during the last quarter. IMA Advisory Services Inc. bought a new position in shares of Gilead Sciences during the 1st quarter valued at $39,000. Finally, Clearstead Trust LLC raised its holdings in shares of Gilead Sciences by 287.6% during the 1st quarter. Clearstead Trust LLC now owns 376 shares of the biopharmaceutical company's stock valued at $42,000 after purchasing an additional 279 shares in the last quarter. 83.67% of the stock is currently owned by institutional investors.

Insider Activity

In other Gilead Sciences news, insider Johanna Mercier sold 28,000 shares of the business's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $107.52, for a total value of $3,010,560.00. Following the transaction, the insider directly owned 121,152 shares in the company, valued at $13,026,263.04. The trade was a 18.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Andrew D. Dickinson sold 2,500 shares of the business's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $111.03, for a total transaction of $277,575.00. Following the completion of the transaction, the chief financial officer owned 162,610 shares in the company, valued at approximately $18,054,588.30. This trade represents a 1.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 82,000 shares of company stock valued at $8,984,175 in the last ninety days. 0.27% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

GILD has been the subject of a number of recent analyst reports. Needham & Company LLC raised Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 target price for the company in a research report on Friday, July 25th. Morgan Stanley lifted their target price on shares of Gilead Sciences from $130.00 to $135.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Cantor Fitzgerald started coverage on shares of Gilead Sciences in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $125.00 target price on the stock. UBS Group lifted their target price on shares of Gilead Sciences from $108.00 to $112.00 and gave the stock a "neutral" rating in a report on Friday. Finally, Oppenheimer dropped their target price on shares of Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Seven research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $114.82.

Gilead Sciences Price Performance

NASDAQ GILD traded down $1.08 on Tuesday, reaching $119.39. The company's stock had a trading volume of 2,783,365 shares, compared to its average volume of 8,383,729. The firm has a market cap of $148.14 billion, a PE ratio of 23.78, a price-to-earnings-growth ratio of 0.75 and a beta of 0.33. The business has a 50-day moving average price of $111.16 and a 200 day moving average price of $107.83. Gilead Sciences, Inc. has a 52 week low of $72.67 and a 52 week high of $121.83. The company has a current ratio of 1.32, a quick ratio of 1.15 and a debt-to-equity ratio of 1.13.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted its earnings results on Thursday, August 7th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, beating analysts' consensus estimates of $1.96 by $0.05. The business had revenue of $7.08 billion for the quarter, compared to analysts' expectations of $6.95 billion. Gilead Sciences had a net margin of 21.86% and a return on equity of 50.99%. The firm's revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.01 earnings per share. Sell-side analysts expect that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Announces Dividend

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

Gilead Sciences Company 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.