GKV Capital Management Co. Inc. Makes New Investment in Gilead Sciences, Inc. (NASDAQ:GILD)

Key Points

• GKV Capital Management Co. Inc. acquired 2,387 shares of Gilead Sciences, valued at approximately $267,000, during the first quarter as part of a growing trend among institutional investors in the biopharmaceutical company.
• Gilead Sciences announced a quarterly dividend of $0.79, with a yield of 2.6%, to be paid on September 29th, signaling strong cash flow and commitment to returning value to shareholders.
• Despite recent acquisitions and strong earnings reports, Gilead Sciences shares have seen a decline of 0.4%, and analysts maintain a consensus rating of "Moderate Buy" with an average price target of $114.82.

GKV Capital Management Co. Inc. purchased a new stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,387 shares of the biopharmaceutical company's stock, valued at approximately $267,000.

Other large investors have also made changes to their positions in the company. Brighton Jones LLC grew its position in Gilead Sciences by 20.6% during the fourth quarter. Brighton Jones LLC now owns 14,359 shares of the biopharmaceutical company's stock valued at $1,326,000 after purchasing an additional 2,450 shares in the last quarter. Rockefeller Capital Management L.P. grew its position in Gilead Sciences by 1.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 76,447 shares of the biopharmaceutical company's stock valued at $7,055,000 after purchasing an additional 1,348 shares in the last quarter. Savvy Advisors Inc. purchased a new position in Gilead Sciences during the fourth quarter valued at approximately $216,000. Cohen & Steers Inc. grew its position in Gilead Sciences by 5.3% during the fourth quarter. Cohen & Steers Inc. now owns 3,704 shares of the biopharmaceutical company's stock valued at $342,000 after purchasing an additional 187 shares in the last quarter. Finally, Mariner LLC grew its position in Gilead Sciences by 6.7% during the fourth quarter. Mariner LLC now owns 550,525 shares of the biopharmaceutical company's stock valued at $50,850,000 after purchasing an additional 34,541 shares in the last quarter. Institutional investors and hedge funds own 83.67% of the company's stock.

Gilead Sciences Stock Performance

NASDAQ:GILD traded down $1.12 during trading hours on Thursday, hitting $119.02. 5,461,007 shares of the company traded hands, compared to its average volume of 6,342,033. The stock has a market capitalization of $147.68 billion, a price-to-earnings ratio of 23.71, a P/E/G ratio of 0.74 and a beta of 0.33. Gilead Sciences, Inc. has a twelve month low of $72.89 and a twelve month high of $121.83. The firm has a 50-day moving average of $111.76 and a 200 day moving average of $108.16. 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 released its earnings results on Thursday, August 7th. The biopharmaceutical company reported $2.01 EPS for the quarter, beating the consensus estimate of $1.96 by $0.05. The firm had revenue of $7.08 billion during 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 business's quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.01 EPS. On average, analysts forecast that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be given a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Monday, September 15th. Gilead Sciences's dividend payout ratio (DPR) is 62.95%.

Insider Transactions at Gilead Sciences

In related news, Director Jeffrey Bluestone sold 5,000 shares of the firm's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $109.74, for a total value of $548,700.00. Following the completion of the transaction, the director directly owned 8,920 shares of the company's stock, valued at $978,880.80. This trade represents a 35.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Johanna Mercier sold 28,000 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $107.52, for a total value of $3,010,560.00. Following the transaction, the insider owned 121,152 shares of the company's stock, valued at $13,026,263.04. This represents a 18.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 79,500 shares of company stock valued at $8,734,625 in the last ninety days. 0.27% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on GILD shares. Needham & Company LLC upgraded shares of Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 target price for the company in a research note on Friday, July 25th. Cantor Fitzgerald started coverage on shares of Gilead Sciences in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $125.00 target price for the company. Royal Bank Of Canada lifted their target price on shares of Gilead Sciences from $96.00 to $98.00 and gave the company a "sector perform" rating in a research note on Friday, August 8th. Truist Financial upgraded shares of Gilead Sciences from a "hold" rating to a "buy" rating and lifted their target price for the company from $108.00 to $127.00 in a research note on Friday, August 8th. Finally, Oppenheimer reduced their target price on shares of Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Seven investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $114.82.

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.