Norden Group LLC Has $2.20 Million Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Norden Group LLC lifted its stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 240.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,163 shares of the biopharmaceutical company's stock after purchasing an additional 19,177 shares during the quarter. Gilead Sciences accounts for 0.4% of Norden Group LLC's portfolio, making the stock its 25th largest position. Norden Group LLC's holdings in Gilead Sciences were worth $2,200,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Clearbridge Investments LLC lifted its stake in Gilead Sciences by 179.0% in the third quarter. Clearbridge Investments LLC now owns 4,543,985 shares of the biopharmaceutical company's stock valued at $340,526,000 after acquiring an additional 2,915,141 shares during the last quarter. abrdn plc raised its position in shares of Gilead Sciences by 89.0% in the fourth quarter. abrdn plc now owns 3,764,107 shares of the biopharmaceutical company's stock valued at $304,930,000 after purchasing an additional 1,772,887 shares during the period. International Assets Investment Management LLC bought a new position in shares of Gilead Sciences in the fourth quarter valued at approximately $133,584,000. AEGON ASSET MANAGEMENT UK Plc bought a new position in shares of Gilead Sciences in the fourth quarter valued at approximately $63,971,000. Finally, Bailard Inc. raised its position in shares of Gilead Sciences by 9,100.7% in the third quarter. Bailard Inc. now owns 722,345 shares of the biopharmaceutical company's stock valued at $54,133,000 after purchasing an additional 714,494 shares during the period. 83.67% of the stock is owned by hedge funds and other institutional investors.

Gilead Sciences Trading Down 1.1 %

Gilead Sciences stock traded down $0.74 during trading hours on Tuesday, reaching $65.20. 7,433,077 shares of the company's stock traded hands, compared to its average volume of 7,480,851. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.72 and a current ratio of 0.98. Gilead Sciences, Inc. has a fifty-two week low of $64.63 and a fifty-two week high of $87.86. The firm has a market capitalization of $81.18 billion, a price-to-earnings ratio of 181.11, a PEG ratio of 1.29 and a beta of 0.19. The firm's 50 day moving average is $71.03 and its 200-day moving average is $76.08.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.49) by $0.17. Gilead Sciences had a net margin of 1.76% and a return on equity of 24.34%. The company had revenue of $6.69 billion for the quarter, compared to the consensus estimate of $6.36 billion. During the same period in the prior year, the company posted $1.37 EPS. The company's revenue was up 5.3% compared to the same quarter last year. On average, analysts predict that Gilead Sciences, Inc. will post 3.82 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, June 14th will be paid a $0.77 dividend. The ex-dividend date is Friday, June 14th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.72%. Gilead Sciences's dividend payout ratio (DPR) is presently 855.56%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on GILD shares. Mizuho dropped their price target on shares of Gilead Sciences from $101.00 to $90.00 and set a "buy" rating on the stock in a research report on Thursday, February 22nd. Royal Bank of Canada dropped their price target on shares of Gilead Sciences from $76.00 to $74.00 and set a "sector perform" rating on the stock in a research report on Friday. Barclays dropped their target price on shares of Gilead Sciences from $80.00 to $76.00 and set an "equal weight" rating on the stock in a research report on Monday. StockNews.com raised shares of Gilead Sciences from a "buy" rating to a "strong-buy" rating in a report on Saturday. Finally, Needham & Company LLC reissued a "hold" rating on shares of Gilead Sciences in a report on Friday. Eleven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $83.60.

Insider Activity

In other news, insider Merdad Parsey sold 2,000 shares of the company's stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $72.96, for a total value of $145,920.00. Following the completion of the sale, the insider now directly owns 96,304 shares of the company's stock, valued at approximately $7,026,339.84. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.29% of the stock is currently owned by company insiders.

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.