Todd Asset Management LLC Purchases 278,490 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Key Points

• Todd Asset Management LLC increased its stake in Gilead Sciences by a staggering 2,226.9% in the first quarter, acquiring a total of 290,996 shares worth approximately $32.6 million.
• Gilead Sciences plans to issue a quarterly dividend of $0.79 per share, with an annualized dividend representing a yield of 2.6%, which will be paid on September 29th.
• Despite the recent stock performance fluctuations, Gilead reported earnings of $2.01 per share, exceeding expectations with a revenue of $7.08 billion for the last quarter.

Todd Asset Management LLC lifted its position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 2,226.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 290,996 shares of the biopharmaceutical company's stock after buying an additional 278,490 shares during the period. Todd Asset Management LLC's holdings in Gilead Sciences were worth $32,606,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of GILD. Nuveen LLC bought a new stake in shares of Gilead Sciences in the 1st quarter worth $620,415,000. GAMMA Investing LLC lifted its holdings in shares of Gilead Sciences by 13,891.1% during the first quarter. GAMMA Investing LLC now owns 2,550,298 shares of the biopharmaceutical company's stock valued at $285,761,000 after purchasing an additional 2,532,070 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Gilead Sciences by 19.7% during the fourth quarter. Northern Trust Corp now owns 14,915,095 shares of the biopharmaceutical company's stock valued at $1,377,707,000 after purchasing an additional 2,458,954 shares during the last quarter. Los Angeles Capital Management LLC lifted its holdings in shares of Gilead Sciences by 422.6% during the first quarter. Los Angeles Capital Management LLC now owns 2,523,036 shares of the biopharmaceutical company's stock valued at $282,706,000 after purchasing an additional 2,040,261 shares during the last quarter. Finally, Royal Bank of Canada lifted its holdings in shares of 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 valued at $801,655,000 after purchasing an additional 2,005,863 shares during the last quarter. Institutional investors own 83.67% of the company's stock.

Insider Buying and Selling

In related news, insider Johanna Mercier sold 3,000 shares of the 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 completion of the sale, the insider owned 117,168 shares in the company, valued at $13,009,163.04. This represents a 2.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey Bluestone sold 5,000 shares of the stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $109.74, for a total value of $548,700.00. Following the sale, the director owned 8,920 shares of the company's stock, valued at approximately $978,880.80. The trade was a 35.92% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 82,000 shares of company stock worth $8,984,175. Insiders own 0.27% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Truist Financial raised Gilead Sciences from a "hold" rating to a "buy" rating and upped their target price for the company from $108.00 to $127.00 in a report on Friday. Cantor Fitzgerald assumed coverage on Gilead Sciences in a report on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 target price for the company. Oppenheimer reduced their target price on Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating for the company in a report on Friday, April 25th. UBS Group upped their target price on Gilead Sciences from $108.00 to $112.00 and gave the company a "neutral" rating in a report on Friday. Finally, Morgan Stanley upped 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. Seven analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $114.82.

Gilead Sciences Stock Down 0.4%

GILD stock traded down $0.45 during mid-day trading on Tuesday, hitting $120.02. The stock had a trading volume of 6,084,059 shares, compared to its average volume of 6,236,199. 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 $72.67 and a 1-year high of $121.83. The company has a fifty day moving average of $111.37 and a 200 day moving average of $107.91. The stock has a market capitalization of $148.92 billion, a price-to-earnings ratio of 23.91, a PEG ratio of 0.76 and a beta of 0.33.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its earnings results on Thursday, August 7th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.05. Gilead Sciences had a return on equity of 50.99% and a net margin of 21.86%. The company had revenue of $7.08 billion for the quarter, compared to analyst estimates of $6.95 billion. During the same period in the prior year, the firm posted $2.01 EPS. The business's revenue was up 1.4% compared to the same quarter last year. On average, equities analysts expect that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Monday, September 15th. Gilead Sciences's dividend payout ratio is 62.95%.

Gilead Sciences Company 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.