Johnson Financial Group LLC Buys New Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Key Points

• Johnson Financial Group LLC purchased 3,233 shares of Gilead Sciences, Inc. for approximately $362,000 in the first quarter, marking a new investment position in the biopharmaceutical company.
• Insider sales occurred with CEO Daniel O'Day selling 10,000 shares valued at over $1 million, while CFO Andrew Dickinson sold 2,500 shares, reflecting a decrease in their ownership positions.
• Analysts have given Gilead Sciences an average rating of "Moderate Buy" with a price target of $114.82, pointing to a highly positive outlook for the company's stock.

Johnson Financial Group LLC acquired a new stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,233 shares of the biopharmaceutical company's stock, valued at approximately $362,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. NWK Group Inc. purchased a new position in Gilead Sciences during the first quarter worth approximately $1,678,000. Frank Rimerman Advisors LLC increased its holdings in shares of Gilead Sciences by 1.4% during the 1st quarter. Frank Rimerman Advisors LLC now owns 32,764 shares of the biopharmaceutical company's stock worth $3,671,000 after buying an additional 446 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Gilead Sciences by 14.7% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 211,775 shares of the biopharmaceutical company's stock worth $23,729,000 after buying an additional 27,172 shares during the period. Zions Bancorporation National Association UT purchased a new position in shares of Gilead Sciences in the 1st quarter worth $10,504,000. Finally, Townsquare Capital LLC boosted its holdings in Gilead Sciences by 0.7% in the first quarter. Townsquare Capital LLC now owns 134,653 shares of the biopharmaceutical company's stock valued at $15,088,000 after acquiring an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 83.67% of the company's stock.

Insider Buying and Selling

In related news, Director Jeffrey Bluestone sold 5,000 shares of the company's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $109.74, for a total transaction of $548,700.00. Following the completion of the transaction, the director directly owned 8,920 shares in the company, valued at $978,880.80. This represents a 35.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Daniel Patrick O'day sold 10,000 shares of the firm's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $113.94, for a total value of $1,139,400.00. Following the completion of the sale, the chief executive officer owned 605,725 shares in the company, valued at $69,016,306.50. The trade was a 1.62% 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 worth $8,984,175. Company insiders own 0.27% of the company's stock.

Gilead Sciences Stock Down 0.4%

GILD stock traded down $0.45 during mid-day trading on Tuesday, hitting $120.02. 6,084,059 shares of the company were exchanged, compared to its average volume of 8,406,134. 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, Inc. has a twelve month low of $72.67 and a twelve month high of $121.83. The firm has a fifty day simple moving average of $111.16 and a 200 day simple moving average of $107.83. The company has a market capitalization of $148.92 billion, a PE ratio of 23.91, a price-to-earnings-growth ratio of 0.75 and a beta of 0.33.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported $2.01 EPS for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $6.95 billion. During the same quarter in the previous year, the company posted $2.01 earnings per share. The firm's revenue was up 1.4% on a year-over-year basis. On average, research analysts forecast that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be issued a $0.79 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.16 annualized dividend and a dividend yield of 2.6%. Gilead Sciences's dividend payout ratio (DPR) is 62.95%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Morgan Stanley raised their price objective on Gilead Sciences from $130.00 to $135.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Cantor Fitzgerald began coverage on shares of Gilead Sciences in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $125.00 price target on the stock. Oppenheimer decreased their price objective 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. Needham & Company LLC raised shares of Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 target price on the stock in a research note on Friday, July 25th. Finally, UBS Group lifted their target price on shares of Gilead Sciences from $108.00 to $112.00 and gave the company a "neutral" rating in a report on Friday. Seven 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 stock. According to data from MarketBeat, Gilead Sciences presently has an average rating of "Moderate Buy" and an average price target 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.