Handelsbanken Fonder AB Has $123.19 Million Stake in Gilead Sciences, Inc. $GILD

Key Points

• Handelsbanken Fonder AB reduced its Gilead Sciences stake by 7.2% in the second quarter, selling 76,090 shares and retaining 975,089 shares valued at approximately $123.2 million. Institutional investors collectively own 83.67% of the company.
• Gilead reported quarterly revenue of $7.8 billion, exceeding analyst expectations of $7.4 billion, while adjusted EPS of negative $6.75 beat estimates. Revenue increased 10.6% year over year.
• The company declared a quarterly dividend of $0.82, equivalent to an annualized yield of about 2.5%. Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $158.04.

Handelsbanken Fonder AB reduced its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 7.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 975,089 shares of the biopharmaceutical company's stock after selling 76,090 shares during the quarter. Handelsbanken Fonder AB owned approximately 0.08% of Gilead Sciences worth $123,193,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Aviva PLC boosted its holdings in shares of Gilead Sciences by 5.4% during the fourth quarter. Aviva PLC now owns 1,156,738 shares of the biopharmaceutical company's stock worth $141,978,000 after acquiring an additional 59,782 shares during the period. Life Cycle Investment Partners Ltd bought a new position in shares of Gilead Sciences during the fourth quarter worth approximately $1,418,000. NBC Securities Inc. increased its stake in shares of Gilead Sciences by 150.3% during the fourth quarter. NBC Securities Inc. now owns 17,147 shares of the biopharmaceutical company's stock worth $2,105,000 after purchasing an additional 10,296 shares during the period. Farther Finance Advisors LLC lifted its holdings in Gilead Sciences by 43.9% during the 4th quarter. Farther Finance Advisors LLC now owns 56,812 shares of the biopharmaceutical company's stock worth $6,973,000 after purchasing an additional 17,325 shares during the last quarter. Finally, Flputnam Investment Management Co. lifted its holdings in Gilead Sciences by 66.5% during the 4th quarter. Flputnam Investment Management Co. now owns 105,740 shares of the biopharmaceutical company's stock worth $12,978,000 after purchasing an additional 42,243 shares during the last quarter. Institutional investors own 83.67% of the company's stock.

Gilead Sciences Trading Down 0.1%

GILD opened at $133.06 on Tuesday. The stock has a market capitalization of $165.20 billion, a price-to-earnings ratio of -49.84 and a beta of 0.32. The company has a quick ratio of 1.09, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. Gilead Sciences, Inc. has a twelve month low of $108.46 and a twelve month high of $157.29. The company has a 50-day simple moving average of $129.45 and a 200 day simple moving average of $136.34.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its earnings results on Monday, August 3rd. The biopharmaceutical company reported ($6.75) EPS for the quarter, beating the consensus estimate of ($7.25) by $0.50. The firm had revenue of $7.80 billion for the quarter, compared to analyst estimates of $7.40 billion. Gilead Sciences had a negative net margin of 10.64% and a negative return on equity of 2.11%. The business's quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the firm earned $2.01 EPS. Analysts predict that Gilead Sciences, Inc. will post -0.5 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Tuesday, September 15th. Gilead Sciences's dividend payout ratio (DPR) is -122.85%.

Wall Street Analyst Weigh In

GILD has been the topic of a number of research reports. Citigroup upped their price objective on Gilead Sciences from $156.00 to $165.00 and gave the company a "buy" rating in a report on Monday, April 13th. Rothschild & Co Redburn dropped their target price on Gilead Sciences from $170.00 to $167.00 in a report on Monday, May 11th. HSBC raised Gilead Sciences from a "hold" rating to a "buy" rating and lifted their target price for the stock from $133.00 to $155.00 in a report on Monday, July 6th. Truist Financial decreased their price target on shares of Gilead Sciences from $157.00 to $156.00 and set a "buy" rating on the stock in a research note on Tuesday, July 7th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $170.00 price target on shares of Gilead Sciences in a research report on Wednesday, August 5th. Twenty-five analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $158.04.

Insider Buying and Selling at Gilead Sciences

In other Gilead Sciences news, insider Johanna Mercier sold 28,000 shares of the company's stock in a transaction on Friday, May 15th. The stock was sold at an average price of $131.29, for a total transaction of $3,676,120.00. Following the completion of the sale, the insider directly owned 125,779 shares in the company, valued at $16,513,524.91. This represents a 18.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel Patrick O'day sold 15,000 shares of the firm's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $130.31, for a total value of $1,954,650.00. Following the completion of the sale, the chief executive officer directly owned 592,133 shares in the company, valued at approximately $77,160,851.23. This represents a 2.47% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 82,000 shares of company stock worth $10,641,790 over the last three months. Corporate insiders own 0.30% of the company's stock.

Gilead Sciences Company Profile

Gilead Sciences, Inc, founded in 1987 and headquartered in Foster City, California, is a biopharmaceutical company focused on the discovery, development and commercialization of medicines in areas of high unmet medical need. The company initially built its reputation in antiviral therapies and has since expanded into oncology, cell therapy and inflammatory diseases. Gilead operates a global research and commercial organization, conducting clinical development and selling medicines in markets around the world.

Gilead's product portfolio is anchored by antiviral therapies for HIV and viral hepatitis.

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