Norges Bank Takes Position in Gilead Sciences, Inc. $GILD

Key Points

• Norges Bank disclosed a new fourth-quarter stake in Gilead Sciences, buying 21.3 million shares valued at about $2.62 billion and owning roughly 1.72% of the company.
• Gilead reported better-than-expected Q1 results, with EPS of $2.03 versus $1.91 expected and revenue of $6.96 billion, up 4.4% year over year.
• The company also announced a quarterly dividend of $0.82 per share, while analysts remain mostly positive with 25 Buy ratings and an average price target of $156.93.

Norges Bank acquired a new stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 21,322,732 shares of the biopharmaceutical company's stock, valued at approximately $2,617,152,000. Norges Bank owned approximately 1.72% of Gilead Sciences at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of GILD. Ares Financial Consulting LLC purchased a new position in Gilead Sciences during the 4th quarter worth $28,000. Financial Consulate Inc. grew its position in Gilead Sciences by 85.8% during the 4th quarter. Financial Consulate Inc. now owns 236 shares of the biopharmaceutical company's stock worth $29,000 after purchasing an additional 109 shares during the last quarter. North Star Investment Management Corp. grew its position in Gilead Sciences by 54.8% during the 4th quarter. North Star Investment Management Corp. now owns 243 shares of the biopharmaceutical company's stock worth $30,000 after purchasing an additional 86 shares during the last quarter. MTM Investment Management LLC boosted its holdings in shares of Gilead Sciences by 176.0% in the third quarter. MTM Investment Management LLC now owns 276 shares of the biopharmaceutical company's stock valued at $31,000 after acquiring an additional 176 shares in the last quarter. Finally, BOCHK Asset Management Ltd purchased a new stake in shares of Gilead Sciences in the fourth quarter valued at about $31,000. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Gilead Sciences news, insider Johanna Mercier sold 28,000 shares of Gilead Sciences stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $131.29, for a total transaction of $3,676,120.00. Following the completion of the transaction, the insider owned 125,779 shares in the company, valued at approximately $16,513,524.91. The trade was a 18.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel Patrick O'day sold 10,000 shares of Gilead Sciences stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $129.16, for a total transaction of $1,291,600.00. Following the transaction, the chief executive officer owned 632,567 shares of the company's stock, valued at approximately $81,702,353.72. The trade was a 1.56% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 53,000 shares of company stock valued at $7,075,670. Corporate insiders own 0.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GILD. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Gilead Sciences from $135.00 to $155.00 and gave the company a "buy" rating in a report on Wednesday, February 11th. Bank of America set a $162.00 target price on shares of Gilead Sciences and gave the company a "buy" rating in a report on Wednesday, February 11th. Wall Street Zen downgraded shares of Gilead Sciences from a "strong-buy" rating to a "hold" rating in a report on Saturday, May 9th. TD Cowen lifted their target price on shares of Gilead Sciences from $145.00 to $160.00 and gave the company a "buy" rating in a report on Wednesday, February 11th. Finally, Cantor Fitzgerald lowered their target price on shares of Gilead Sciences from $155.00 to $115.00 and set an "overweight" rating on the stock in a report on Friday, April 10th. Twenty-five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $156.93.

Gilead Sciences Stock Down 1.3%

GILD stock opened at $134.43 on Friday. The company has a market cap of $166.90 billion, a P/E ratio of 18.31 and a beta of 0.31. Gilead Sciences, Inc. has a 52 week low of $104.46 and a 52 week high of $157.29. The company's 50-day moving average price is $135.30 and its 200 day moving average price is $134.09. The company has a current ratio of 1.97, a quick ratio of 1.77 and a debt-to-equity ratio of 0.89.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported $2.03 EPS for the quarter, topping analysts' consensus estimates of $1.91 by $0.12. The firm had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $6.91 billion. Gilead Sciences had a net margin of 30.99% and a return on equity of 48.19%. The firm's revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.81 earnings per share. Gilead Sciences has set its FY 2026 guidance at -1.050--0.650 EPS. On average, research analysts expect that Gilead Sciences, Inc. will post -0.79 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be issued a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $3.28 dividend on an annualized basis and a yield of 2.4%. Gilead Sciences's payout ratio is currently 44.69%.

About Gilead Sciences

Gilead Sciences, Inc, founded in 1987 and headquartered in Foster City, California, is a biopharmaceutical company focused on the discovery, development and commercialization of medicines in areas of high unmet medical need. The company initially built its reputation in antiviral therapies and has since expanded into oncology, cell therapy and inflammatory diseases. Gilead operates a global research and commercial organization, conducting clinical development and selling medicines in markets around the world.

Gilead's product portfolio is anchored by antiviral therapies for HIV and viral hepatitis.

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