Zions Bancorporation National Association UT Makes New $10.50 Million Investment in Gilead Sciences, Inc. (NASDAQ:GILD)

Key Points

• Zions Bancorporation acquired a new $10.50 million stake in Gilead Sciences, purchasing 93,742 shares, which now constitutes approximately 0.7% of their portfolio.
• Institutional investors hold a substantial stake in Gilead Sciences, owning 83.67% of the company's stock, with significant investments from firms like GAMMA Investing and Vanguard Group.
• Gilead Sciences reported a quarterly earnings per share of $2.01, exceeding analyst expectations, alongside a revenue of $7.08 billion, reflecting a year-over-year growth of 1.4%.

Zions Bancorporation National Association UT bought a new position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 93,742 shares of the biopharmaceutical company's stock, valued at approximately $10,504,000. Gilead Sciences makes up approximately 0.7% of Zions Bancorporation National Association UT's investment portfolio, making the stock its 25th biggest position.

A number of other large investors have also added to or reduced their stakes in GILD. Brighton Jones LLC grew its stake in shares of Gilead Sciences by 20.6% during the 4th quarter. Brighton Jones LLC now owns 14,359 shares of the biopharmaceutical company's stock worth $1,326,000 after purchasing an additional 2,450 shares during the period. Trexquant Investment LP acquired a new stake in shares of Gilead Sciences in the 4th quarter worth $523,000. Rathbones Group PLC increased its stake in shares of Gilead Sciences by 3.8% in the 4th quarter. Rathbones Group PLC now owns 3,395 shares of the biopharmaceutical company's stock worth $314,000 after acquiring an additional 125 shares during the last quarter. Bessemer Group Inc. increased its position in shares of Gilead Sciences by 10.9% during the 4th quarter. Bessemer Group Inc. now owns 97,167 shares of the biopharmaceutical company's stock worth $8,974,000 after purchasing an additional 9,573 shares during the last quarter. Finally, Scotia Capital Inc. increased its position in shares of Gilead Sciences by 9.5% during the 4th quarter. Scotia Capital Inc. now owns 162,749 shares of the biopharmaceutical company's stock worth $15,033,000 after purchasing an additional 14,125 shares during the last quarter. 83.67% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Gilead Sciences

In other Gilead Sciences news, insider Johanna Mercier sold 28,000 shares of Gilead Sciences stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $107.52, for a total transaction of $3,010,560.00. Following the transaction, the insider owned 121,152 shares of the company's stock, valued at $13,026,263.04. This trade represents a 18.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Daniel Patrick O'day sold 10,000 shares of Gilead Sciences stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $110.45, for a total transaction of $1,104,500.00. Following the completion of the sale, the chief executive officer directly owned 615,725 shares in the company, valued at $68,006,826.25. This trade represents a 1.60% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 82,000 shares of company stock worth $8,984,175 in the last quarter. 0.27% of the stock is owned by insiders.

Gilead Sciences Price Performance

NASDAQ GILD traded down $0.94 on Tuesday, hitting $119.53. 2,977,335 shares of the company's stock were exchanged, compared to its average volume of 8,384,940. The stock has a 50-day moving average of $111.16 and a 200-day moving average of $107.83. 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 52 week low of $72.67 and a 52 week high of $121.83. The stock has a market cap of $148.32 billion, a price-to-earnings ratio of 23.79, a P/E/G ratio of 0.75 and a beta of 0.33.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported $2.01 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $6.95 billion. During the same period in the prior year, the company earned $2.01 EPS. Gilead Sciences's revenue was up 1.4% compared to the same quarter last year. Analysts expect that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be given 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 2.6%. Gilead Sciences's dividend payout ratio (DPR) is presently 62.95%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GILD. Morgan Stanley raised their price objective on Gilead Sciences from $130.00 to $135.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Truist Financial raised Gilead Sciences from a "hold" rating to a "buy" rating and lifted their target price for the company from $108.00 to $127.00 in a research report on Friday. Royal Bank Of Canada lifted their price objective on Gilead Sciences from $96.00 to $98.00 and gave the company a "sector perform" rating in a research note on Friday. Cantor Fitzgerald began coverage on Gilead Sciences in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $125.00 price objective for the company. Finally, Needham & Company LLC raised Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 target price on the stock in a report on Friday, July 25th. Seven equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $114.82.

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.