IFM Investors Pty Ltd Acquires 21,655 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

IFM Investors Pty Ltd grew its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 8.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 270,605 shares of the biopharmaceutical company's stock after buying an additional 21,655 shares during the period. IFM Investors Pty Ltd's holdings in Gilead Sciences were worth $30,321,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Bridgewater Associates LP lifted its holdings in Gilead Sciences by 122.7% during the 4th quarter. Bridgewater Associates LP now owns 460,936 shares of the biopharmaceutical company's stock worth $42,577,000 after purchasing an additional 253,994 shares in the last quarter. Nissay Asset Management Corp Japan ADV increased its stake in Gilead Sciences by 5.2% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 284,243 shares of the biopharmaceutical company's stock worth $26,750,000 after acquiring an additional 14,009 shares during the last quarter. Ontario Teachers Pension Plan Board increased its stake in Gilead Sciences by 54.6% in the 4th quarter. Ontario Teachers Pension Plan Board now owns 37,051 shares of the biopharmaceutical company's stock worth $3,422,000 after acquiring an additional 13,086 shares during the last quarter. Mufg Securities Americas Inc. bought a new position in Gilead Sciences in the 4th quarter worth about $1,699,000. Finally, Capital International Inc. CA increased its stake in Gilead Sciences by 23.8% in the 4th quarter. Capital International Inc. CA now owns 312,209 shares of the biopharmaceutical company's stock worth $28,839,000 after acquiring an additional 60,035 shares during the last quarter. Hedge funds and other institutional investors own 83.67% of the company's stock.

Gilead Sciences Stock Performance

NASDAQ GILD traded up $0.03 on Monday, hitting $111.78. 6,955,665 shares of the company traded hands, compared to its average volume of 7,703,268. The company has a market capitalization of $139.05 billion, a price-to-earnings ratio of 23.53, a P/E/G ratio of 0.72 and a beta of 0.29. The company has a current ratio of 1.37, a quick ratio of 1.23 and a debt-to-equity ratio of 1.16. The business's 50 day moving average price is $107.02 and its 200-day moving average price is $104.11. Gilead Sciences, Inc. has a 52-week low of $66.34 and a 52-week high of $119.96.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its earnings results 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 company had revenue of $6.67 billion for the quarter, compared to the consensus estimate of $6.77 billion. Gilead Sciences had a return on equity of 51.93% and a net margin of 20.76%. Gilead Sciences's quarterly revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.32) earnings per share. Equities analysts expect that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were given a $0.79 dividend. The ex-dividend date was Friday, June 13th. This represents a $3.16 annualized dividend and a dividend yield of 2.83%. Gilead Sciences's payout ratio is 66.53%.

Insider Activity

In related news, insider Johanna Mercier sold 28,000 shares of the business's stock in a transaction dated 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 sale, the insider directly owned 121,152 shares in the company, valued at approximately $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 accessible through this hyperlink. Also, CFO Andrew D. Dickinson sold 2,500 shares of the business's 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 completion of the sale, the chief financial officer owned 165,674 shares in the company, valued at $16,537,578.68. This represents a 1.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 58,500 shares of company stock worth $6,340,745 over the last ninety days. Corporate insiders own 0.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. upped their target price on Gilead Sciences from $120.00 to $130.00 and gave the stock an "overweight" rating in a research note on Thursday, March 27th. Cantor Fitzgerald began coverage on Gilead Sciences in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 price objective on the stock. Needham & Company LLC reiterated a "hold" rating on shares of Gilead Sciences in a research report on Wednesday, May 21st. Morgan Stanley increased their price objective on Gilead Sciences from $130.00 to $135.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Finally, Oppenheimer reduced their price objective on Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Nine investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Gilead Sciences currently has an average rating of "Moderate Buy" and a consensus target price of $110.55.

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.