Federated Hermes Inc. Increases Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Federated Hermes Inc. lifted its stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 4.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,787,355 shares of the biopharmaceutical company's stock after purchasing an additional 175,925 shares during the quarter. Gilead Sciences accounts for approximately 0.8% of Federated Hermes Inc.'s holdings, making the stock its 23rd biggest position. Federated Hermes Inc. owned approximately 0.30% of Gilead Sciences worth $306,814,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of GILD. PCA Investment Advisory Services Inc. purchased a new position in shares of Gilead Sciences in the 2nd quarter worth about $25,000. OFI Invest Asset Management purchased a new position in shares of Gilead Sciences in the 3rd quarter worth about $26,000. Tompkins Financial Corp raised its position in shares of Gilead Sciences by 223.1% in the 3rd quarter. Tompkins Financial Corp now owns 349 shares of the biopharmaceutical company's stock worth $26,000 after purchasing an additional 241 shares during the last quarter. Fortitude Family Office LLC purchased a new position in shares of Gilead Sciences in the 4th quarter worth about $29,000. Finally, Rakuten Securities Inc. purchased a new position in shares of Gilead Sciences in the 4th quarter worth about $33,000. Hedge funds and other institutional investors own 83.67% of the company's stock.

Gilead Sciences Stock Performance

Shares of GILD stock traded down $0.77 during trading hours on Thursday, reaching $66.16. 6,440,752 shares of the company traded hands, compared to its average volume of 7,307,979. Gilead Sciences, Inc. has a 12-month low of $65.90 and a 12-month high of $87.86. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.43 and a quick ratio of 1.27. The company has a market cap of $82.37 billion, a P/E ratio of 14.70, a P/E/G ratio of 0.92 and a beta of 0.19. The firm has a 50-day moving average price of $72.10 and a 200 day moving average price of $76.58.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted its quarterly earnings data on Tuesday, February 6th. The biopharmaceutical company reported $1.72 earnings per share for the quarter, missing analysts' consensus estimates of $1.76 by ($0.04). Gilead Sciences had a net margin of 20.89% and a return on equity of 38.85%. The company had revenue of $7.12 billion for the quarter, compared to analysts' expectations of $7.10 billion. During the same period in the previous year, the firm earned $1.67 earnings per share. The firm's quarterly revenue was down 3.7% on a year-over-year basis. As a group, sell-side analysts predict that Gilead Sciences, Inc. will post 6.55 earnings per share for the current fiscal year.

Gilead Sciences Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a dividend of $0.77 per share. This is a boost from Gilead Sciences's previous quarterly dividend of $0.75. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.66%. The ex-dividend date was Thursday, March 14th. Gilead Sciences's payout ratio is presently 68.44%.

Insider Activity

In related news, insider Merdad Parsey sold 2,000 shares of the business's stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $72.96, for a total value of $145,920.00. Following the transaction, the insider now directly owns 96,304 shares of the company's stock, valued at approximately $7,026,339.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.16% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on GILD shares. UBS Group reduced their price objective on Gilead Sciences from $81.00 to $75.00 and set a "neutral" rating for the company in a report on Wednesday. Cantor Fitzgerald reduced their price objective on Gilead Sciences from $80.00 to $78.00 and set a "neutral" rating for the company in a report on Wednesday, February 7th. Mizuho reduced their price objective on Gilead Sciences from $101.00 to $90.00 and set a "buy" rating for the company in a report on Thursday, February 22nd. Oppenheimer reduced their price objective on Gilead Sciences from $115.00 to $105.00 and set an "outperform" rating for the company in a report on Monday, February 12th. Finally, Wells Fargo & Company reduced their price objective on Gilead Sciences from $84.00 to $77.00 and set an "equal weight" rating for the company in a report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $84.71.

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.