Massachusetts Financial Services Co. MA Grows Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Massachusetts Financial Services Co. MA increased its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 24.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 94,286 shares of the biopharmaceutical company's stock after purchasing an additional 18,368 shares during the quarter. Massachusetts Financial Services Co. MA's holdings in Gilead Sciences were worth $10,565,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Brighton Jones LLC lifted its stake in Gilead Sciences by 20.6% in the fourth quarter. Brighton Jones LLC now owns 14,359 shares of the biopharmaceutical company's stock valued at $1,326,000 after buying an additional 2,450 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in Gilead Sciences in the fourth quarter valued at approximately $339,000. Lee Danner & Bass Inc. purchased a new stake in Gilead Sciences in the fourth quarter valued at approximately $41,000. Wayfinding Financial LLC purchased a new stake in Gilead Sciences in the fourth quarter valued at approximately $238,000. Finally, Summit Global Investments purchased a new stake in Gilead Sciences in the fourth quarter valued at approximately $4,718,000. Hedge funds and other institutional investors own 83.67% of the company's stock.

Insider Buying and Selling

In other news, insider Johanna Mercier sold 3,000 shares of the company's stock in a transaction on Tuesday, July 15th. The stock was 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 in the company, valued at $13,009,163.04. This represents a 2.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Andrew D. Dickinson sold 2,500 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 $277,575.00. Following the completion of the sale, the chief financial officer owned 162,610 shares in the company, valued at $18,054,588.30. This represents a 1.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 72,000 shares of company stock valued at $7,844,775 over the last three months. Insiders own 0.27% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Needham & Company LLC reiterated a "hold" rating on shares of Gilead Sciences in a research note on Wednesday, May 21st. Oppenheimer dropped their target price on Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Cantor Fitzgerald began coverage on Gilead Sciences in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $125.00 target price on the stock. Morgan Stanley boosted their target price on Gilead Sciences from $130.00 to $135.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Finally, JPMorgan Chase & Co. boosted their target price on Gilead Sciences from $120.00 to $130.00 and gave the company an "overweight" rating in a report on Thursday, March 27th. Nine equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $111.38.

Gilead Sciences Price Performance

GILD traded down $0.58 during trading on Friday, reaching $108.22. 6,627,889 shares of the stock were exchanged, compared to its average volume of 7,673,118. The business's 50 day moving average price is $108.81 and its two-hundred day moving average price is $105.26. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.37 and a quick ratio of 1.23. The company has a market capitalization of $134.62 billion, a price-to-earnings ratio of 22.78, a P/E/G ratio of 0.70 and a beta of 0.29. Gilead Sciences, Inc. has a 1 year low of $70.78 and a 1 year high of $119.96.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 EPS for the quarter, topping analysts' consensus estimates 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. As a group, equities research analysts anticipate that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The business 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 2.92%. Gilead Sciences's dividend payout ratio is currently 66.53%.

About Gilead Sciences

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.