Foundation Resource Management Inc. Has $12.32 Million Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Foundation Resource Management Inc. lowered its position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 47.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 109,916 shares of the biopharmaceutical company's stock after selling 97,803 shares during the period. Gilead Sciences comprises 1.9% of Foundation Resource Management Inc.'s holdings, making the stock its 17th largest position. Foundation Resource Management Inc.'s holdings in Gilead Sciences were worth $12,316,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of GILD. Norges Bank acquired a new position in Gilead Sciences during the 4th quarter worth approximately $1,789,254,000. FMR LLC boosted its holdings in Gilead Sciences by 21.6% during the fourth quarter. FMR LLC now owns 40,319,432 shares of the biopharmaceutical company's stock worth $3,724,306,000 after purchasing an additional 7,157,113 shares during the last quarter. GAMMA Investing LLC grew its position in Gilead Sciences by 13,891.1% in the first quarter. GAMMA Investing LLC now owns 2,550,298 shares of the biopharmaceutical company's stock valued at $285,761,000 after purchasing an additional 2,532,070 shares in the last quarter. Northern Trust Corp increased its stake in Gilead Sciences by 19.7% in the 4th quarter. Northern Trust Corp now owns 14,915,095 shares of the biopharmaceutical company's stock valued at $1,377,707,000 after buying an additional 2,458,954 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Gilead Sciences in the 4th quarter valued at $207,340,000. 83.67% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Johanna Mercier sold 28,000 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was 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 directly owns 121,152 shares of the company's stock, valued at $13,026,263.04. This trade represents a 18.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Andrew D. Dickinson sold 2,500 shares of Gilead Sciences stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $99.82, for a total value of $249,550.00. Following the transaction, the chief financial officer now directly owns 165,674 shares in the company, valued at $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. Insiders have sold 43,000 shares of company stock worth $4,630,310 in the last 90 days. Insiders own 0.27% of the company's stock.

Analyst Ratings Changes

GILD has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their target price on Gilead Sciences from $120.00 to $130.00 and gave the company an "overweight" rating in a research report on Thursday, March 27th. Wells Fargo & Company upped their price objective on Gilead Sciences from $120.00 to $140.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft raised shares of Gilead Sciences from a "hold" rating to a "buy" rating and raised their target price for the company from $80.00 to $120.00 in a research note on Tuesday, February 18th. Piper Sandler lifted their price objective on shares of Gilead Sciences from $105.00 to $110.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Finally, The Goldman Sachs Group boosted their price objective on shares of Gilead Sciences from $85.00 to $96.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 12th. Nine equities research 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. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $110.55.

Gilead Sciences Price Performance

Shares of GILD traded down $0.55 during midday trading on Wednesday, hitting $109.54. The company's stock had a trading volume of 3,321,907 shares, compared to its average volume of 7,717,091. The company has a quick ratio of 1.20, a current ratio of 1.50 and a debt-to-equity ratio of 1.24. Gilead Sciences, Inc. has a one year low of $62.69 and a one year high of $119.96. The stock has a market capitalization of $136.26 billion, a price-to-earnings ratio of 296.34, a price-to-earnings-growth ratio of 0.71 and a beta of 0.29. The company's fifty day simple moving average is $105.36 and its two-hundred day simple moving average is $101.86.

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, beating the consensus estimate of $1.77 by $0.04. The business had revenue of $6.67 billion for the quarter, compared to analyst estimates of $6.77 billion. Gilead Sciences had a return on equity of 31.63% and a net margin of 1.67%. Gilead Sciences's revenue was down .3% compared to the same quarter last year. During the same period last year, the firm posted ($1.32) earnings per share. As a group, equities analysts expect that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend is Friday, June 13th. Gilead Sciences's dividend payout ratio (DPR) is 66.53%.

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.