LGT Fund Management Co Ltd. Invests $2.77 Million in Gilead Sciences, Inc. (NASDAQ:GILD)

Key Points

• LGT Fund Management Co Ltd. has invested approximately $2.77 million in Gilead Sciences, purchasing 24,685 shares of the biopharmaceutical company.
• Multiple institutional investors, including Vanguard Group and Northern Trust Corp, have increased their stakes in Gilead Sciences, indicating strong institutional interest in the stock.
• Gilead Sciences reported earnings of $2.01 per share, exceeding analyst expectations, and has recently announced a quarterly dividend of $0.79 per share.

LGT Fund Management Co Ltd. purchased a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 24,685 shares of the biopharmaceutical company's stock, valued at approximately $2,766,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Gilead Sciences by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 117,470,825 shares of the biopharmaceutical company's stock valued at $13,162,606,000 after purchasing an additional 1,942,433 shares during the period. Northern Trust Corp raised its stake in Gilead Sciences by 19.7% during the fourth quarter. Northern Trust Corp now owns 14,915,095 shares of the biopharmaceutical company's stock worth $1,377,707,000 after buying an additional 2,458,954 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Gilead Sciences by 15.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,234,672 shares of the biopharmaceutical company's stock worth $1,130,117,000 after buying an additional 1,605,730 shares during the last quarter. Royal Bank of Canada raised its stake in Gilead Sciences by 30.1% during the fourth quarter. Royal Bank of Canada now owns 8,678,751 shares of the biopharmaceutical company's stock worth $801,655,000 after buying an additional 2,005,863 shares during the last quarter. Finally, Nuveen LLC bought a new position in Gilead Sciences during the first quarter worth $620,415,000. Institutional investors own 83.67% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on GILD shares. Cantor Fitzgerald started coverage on shares of Gilead Sciences in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $125.00 price target for the company. Morgan Stanley raised their price target 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 Gilead Sciences from a "hold" rating to a "buy" rating and upped their target price for the stock from $108.00 to $127.00 in a research report on Friday. Needham & Company LLC upgraded shares of Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 price target for the company in a research note on Friday, July 25th. Finally, Royal Bank Of Canada boosted their target price on shares of Gilead Sciences from $96.00 to $98.00 and gave the stock a "sector perform" rating in a research report on Friday. Seven equities research 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, the company currently has an average rating of "Moderate Buy" and an average price target of $114.82.

Insider Activity

In related news, CFO Andrew D. Dickinson sold 2,500 shares of the company's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $111.03, for a total transaction of $277,575.00. Following the sale, the chief financial officer owned 162,610 shares of the company's stock, valued at approximately $18,054,588.30. This represents a 1.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Johanna Mercier sold 3,000 shares of the company's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $111.03, for a total transaction of $333,090.00. Following the sale, the insider directly owned 117,168 shares in the company, valued at $13,009,163.04. This trade represents a 2.50% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 82,000 shares of company stock worth $8,984,175. Insiders own 0.27% of the company's stock.

Gilead Sciences Stock Performance

NASDAQ GILD opened at $120.47 on Tuesday. The company's 50 day moving average is $111.16 and its 200-day moving average is $107.83. Gilead Sciences, Inc. has a 12-month low of $72.43 and a 12-month high of $121.38. The company has a quick ratio of 1.15, a current ratio of 1.32 and a debt-to-equity ratio of 1.13. The firm has a market cap of $149.48 billion, a P/E ratio of 24.00, a price-to-earnings-growth ratio of 0.75 and a beta of 0.33.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted its earnings results on Thursday, August 7th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, topping analysts' consensus estimates of $1.96 by $0.05. The business had revenue of $7.08 billion for the quarter, compared to analyst estimates of $6.95 billion. Gilead Sciences had a net margin of 21.86% and a return on equity of 50.99%. Gilead Sciences's revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.01 EPS. Sell-side analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share 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 issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Monday, September 15th. Gilead Sciences's dividend payout ratio is 62.95%.

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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