QRG Capital Management Inc. Purchases 21,725 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

QRG Capital Management Inc. boosted its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 8.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 280,310 shares of the biopharmaceutical company's stock after acquiring an additional 21,725 shares during the period. QRG Capital Management Inc.'s holdings in Gilead Sciences were worth $31,409,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC grew its position in Gilead Sciences by 158.8% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 352 shares of the biopharmaceutical company's stock worth $33,000 after buying an additional 216 shares in the last quarter. Morton Brown Family Wealth LLC bought a new position in shares of Gilead Sciences in the fourth quarter worth approximately $35,000. Whipplewood Advisors LLC purchased a new stake in Gilead Sciences in the fourth quarter valued at approximately $35,000. Synergy Investment Management LLC bought a new stake in Gilead Sciences during the fourth quarter valued at approximately $40,000. Finally, Lee Danner & Bass Inc. bought a new position in shares of Gilead Sciences in the 4th quarter worth $41,000. Institutional investors own 83.67% of the company's stock.

Gilead Sciences Stock Up 0.8%

GILD traded up $0.85 during trading on Monday, hitting $110.83. 4,740,535 shares of the company's stock traded hands, compared to its average volume of 7,732,288. Gilead Sciences, Inc. has a 12-month low of $62.69 and a 12-month high of $119.96. The company's 50 day simple moving average is $105.67 and its two-hundred day simple moving average is $102.33. The stock has a market capitalization of $137.86 billion, a price-to-earnings ratio of 299.54, a PEG ratio of 0.71 and a beta of 0.29. The company has a current ratio of 1.50, a quick ratio of 1.20 and a debt-to-equity ratio of 1.24.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.04. Gilead Sciences had a return on equity of 31.63% and a net margin of 1.67%. The business had revenue of $6.67 billion for the quarter, compared to analysts' expectations of $6.77 billion. During the same period last year, the firm posted ($1.32) earnings per share. The business's revenue for the quarter was down .3% on a year-over-year basis. Analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend is Friday, June 13th. Gilead Sciences's payout ratio is 66.53%.

Insider Buying and Selling

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 2,500 shares of Gilead Sciences stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $99.82, for a total value of $249,550.00. Following the completion of the transaction, the chief financial officer now directly owns 165,674 shares of the company's stock, valued at $16,537,578.68. This trade represents a 1.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Daniel Patrick O'day sold 10,000 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $110.42, for a total value of $1,104,200.00. Following the completion of the sale, the chief executive officer now directly owns 620,268 shares of the company's stock, valued at $68,489,992.56. The trade was a 1.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,000 shares of company stock valued at $4,630,310. Company insiders own 0.27% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on GILD. Cantor Fitzgerald started coverage on shares of Gilead Sciences in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $125.00 target price for the company. Needham & Company LLC reiterated a "hold" rating on shares of Gilead Sciences in a research report on Wednesday, May 21st. Morgan Stanley boosted their target price on Gilead Sciences from $130.00 to $135.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Bank of America increased their price target on shares of Gilead Sciences from $116.00 to $126.00 and gave the company a "buy" rating in a research report on Wednesday, March 5th. 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 research note on Thursday, March 27th. Nine equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, Gilead Sciences currently has an average rating of "Moderate Buy" and an average price target of $110.55.

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.