Gulf International Bank UK Ltd Has $8.05 Million Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Key Points

• Gulf International Bank UK Ltd reduced its holdings in Gilead Sciences by 26.4%, owning 71,843 shares valued at approximately $8.05 million at the end of the most recent quarter.
• Gilead Sciences reported $2.01 earnings per share for the last quarter, beating expectations, with revenue of $7.08 billion, marking a 1.4% year-over-year growth.
• The company announced a $0.79 quarterly dividend payable on September 29th, resulting in an annualized dividend yield of 2.6%.

Gulf International Bank UK Ltd cut its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 26.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 71,843 shares of the biopharmaceutical company's stock after selling 25,796 shares during the period. Gulf International Bank UK Ltd's holdings in Gilead Sciences were worth $8,050,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Redwood Financial Network Corp increased its stake in shares of Gilead Sciences by 4.0% during the 4th quarter. Redwood Financial Network Corp now owns 2,530 shares of the biopharmaceutical company's stock worth $234,000 after purchasing an additional 98 shares during the last quarter. Argentarii LLC boosted its holdings in shares of Gilead Sciences by 3.0% during the 1st quarter. Argentarii LLC now owns 3,392 shares of the biopharmaceutical company's stock worth $380,000 after buying an additional 99 shares during the period. Peak Financial Advisors LLC boosted its holdings in shares of Gilead Sciences by 1.7% during the 1st quarter. Peak Financial Advisors LLC now owns 6,040 shares of the biopharmaceutical company's stock worth $677,000 after buying an additional 100 shares during the period. Perkins Coie Trust Co boosted its holdings in shares of Gilead Sciences by 2.6% during the 1st quarter. Perkins Coie Trust Co now owns 3,880 shares of the biopharmaceutical company's stock worth $435,000 after buying an additional 100 shares during the period. Finally, Investment Research & Advisory Group Inc. boosted its holdings in shares of Gilead Sciences by 33.3% during the 1st quarter. Investment Research & Advisory Group Inc. now owns 400 shares of the biopharmaceutical company's stock worth $45,000 after buying an additional 100 shares during the period. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Gilead Sciences Price Performance

GILD stock opened at $120.02 on Wednesday. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.32 and a quick ratio of 1.15. Gilead Sciences, Inc. has a 1 year low of $72.67 and a 1 year high of $121.83. The company has a 50 day simple moving average of $111.37 and a 200 day simple moving average of $107.91. The stock has a market cap of $148.92 billion, a price-to-earnings ratio of 23.91, a P/E/G ratio of 0.76 and a beta of 0.33.

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

Gilead Sciences Dividend Announcement

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

Insider Activity

In other news, insider Johanna Mercier sold 3,000 shares of the company's 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 of the company's stock, valued at approximately $13,009,163.04. This represents a 2.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jeffrey Bluestone sold 5,000 shares of the company's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $109.74, for a total transaction of $548,700.00. Following the completion of the sale, the director directly owned 8,920 shares in the company, valued at approximately $978,880.80. This represents a 35.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 82,000 shares of company stock valued at $8,984,175. Company insiders own 0.27% of the company's stock.

Wall Street Analysts Forecast Growth

GILD has been the subject of several research analyst reports. Cantor Fitzgerald initiated coverage on shares of Gilead Sciences in a report on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 target price for the company. 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. Truist Financial raised shares of Gilead Sciences from a "hold" rating to a "buy" rating and lifted their target price for the stock from $108.00 to $127.00 in a report on Friday, August 8th. Royal Bank Of Canada boosted their price objective on shares of Gilead Sciences from $96.00 to $98.00 and gave the company a "sector perform" rating in a report on Friday, August 8th. Finally, Needham & Company LLC raised shares of Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 price objective for the company in a report on Friday, July 25th. Seven analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Gilead Sciences 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.

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