Norden Group LLC Has $8.18 Million Stock Position in Gilead Sciences, Inc. $GILD

Key Points

• Norden Group LLC increased its stake in Gilead Sciences by 172.8% during the 2nd quarter, owning 73,771 shares, which are valued at approximately $8.18 million.
• Several analysts have upgraded their ratings for Gilead Sciences, with Truist Financial raising the price target to $127 and others projecting a strong growth outlook for the stock.
• Gilead Sciences also recently declared a quarterly dividend of $0.79 per share, representing an annual yield of 2.8%. The dividend payout ratio is currently 62.95%.

Norden Group LLC increased its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 172.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 73,771 shares of the biopharmaceutical company's stock after acquiring an additional 46,725 shares during the period. Gilead Sciences comprises approximately 0.9% of Norden Group LLC's investment portfolio, making the stock its 18th largest holding. Norden Group LLC's holdings in Gilead Sciences were worth $8,179,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Brighton Jones LLC grew its stake in shares of 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 in the last quarter. Bison Wealth LLC bought a new position in shares of Gilead Sciences in the 4th quarter valued at about $215,000. ABLE Financial Group LLC bought a new position in shares of Gilead Sciences in the 4th quarter valued at about $234,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Gilead Sciences during the 4th quarter worth about $104,402,000. Finally, Total Wealth Planning & Management Inc. bought a new stake in shares of Gilead Sciences in the 4th quarter valued at about $496,000. 83.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Truist Financial upgraded Gilead Sciences from a "hold" rating to a "buy" rating and lifted their price target for the stock from $108.00 to $127.00 in a report on Friday, August 8th. Rothschild & Co Redburn lifted their target price on Gilead Sciences from $136.00 to $143.00 and gave the stock a "buy" rating in a research note on Friday, September 12th. Daiwa Capital Markets raised Gilead Sciences from a "neutral" rating to an "outperform" rating and set a $128.00 target price on the stock in a report on Tuesday, August 19th. Needham & Company LLC raised Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 price target for the company in a report on Friday, July 25th. Finally, Daiwa America raised shares of Gilead Sciences from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 19th. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $117.17.

Gilead Sciences Stock Performance

NASDAQ GILD opened at $114.40 on Wednesday. The firm's 50 day simple moving average is $114.21 and its 200 day simple moving average is $109.98. The firm has a market capitalization of $141.95 billion, a price-to-earnings ratio of 22.79, a P/E/G ratio of 0.76 and a beta of 0.36. 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 1 year low of $81.83 and a 1 year high of $121.83.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported $2.01 EPS for the quarter, beating the consensus estimate of $1.96 by $0.05. The business had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $6.95 billion. Gilead Sciences had a net margin of 21.86% and a return on equity of 50.99%. The company's revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.01 earnings per share. Gilead Sciences has set its FY 2025 guidance at 7.950-8.250 EPS. As a group, research analysts expect that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be paid a $0.79 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.16 annualized dividend and a yield of 2.8%. Gilead Sciences's dividend payout ratio (DPR) is 62.95%.

Insiders Place Their Bets

In other news, CFO Andrew D. Dickinson sold 2,500 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $118.53, for a total value of $296,325.00. Following the sale, the chief financial officer directly owned 160,110 shares in the company, valued at approximately $18,977,838.30. This trade represents a 1.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Johanna Mercier sold 28,000 shares of Gilead Sciences stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $118.53, for a total transaction of $3,318,840.00. Following the sale, the insider directly owned 114,168 shares in the company, valued at $13,532,333.04. This trade represents a 19.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 82,000 shares of company stock worth $9,390,030. Insiders own 0.27% of the company's stock.

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.

Want to see what other hedge funds are holding GILD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gilead Sciences, Inc. (NASDAQ:GILD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.