Gateway Investment Advisers LLC increased its stake in Gilead Sciences, Inc. (NASDAQ:GILD – Get Rating) by 1.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,712 shares of the biopharmaceutical company’s stock after purchasing an additional 1,002 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Gilead Sciences were worth $4,927,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently bought and sold shares of the company. Landmark Wealth Management LLC purchased a new stake in shares of Gilead Sciences in the first quarter valued at $30,000. Joseph P. Lucia & Associates LLC purchased a new stake in Gilead Sciences in the 1st quarter worth about $25,000. TFO TDC LLC acquired a new stake in Gilead Sciences during the 1st quarter worth about $27,000. Cornerstone Advisory LLC purchased a new position in Gilead Sciences during the 4th quarter valued at about $34,000. Finally, Mystic Asset Management Inc. acquired a new position in shares of Gilead Sciences in the 4th quarter valued at about $33,000. 78.58% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several analysts recently commented on GILD shares. SVB Leerink restated a “market perform” rating on shares of Gilead Sciences in a report on Thursday, September 15th. Cantor Fitzgerald initiated coverage on shares of Gilead Sciences in a research note on Tuesday, July 12th. They issued a “neutral” rating and a $70.00 price target on the stock. Wells Fargo & Company lifted their price objective on Gilead Sciences from $63.00 to $74.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 13th. TheStreet raised Gilead Sciences from a “c+” rating to a “b-” rating in a research report on Monday, August 15th. Finally, StockNews.com lowered Gilead Sciences from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 17th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $73.53.
Gilead Sciences Price Performance
Gilead Sciences (NASDAQ:GILD – Get Rating) last released its earnings results on Tuesday, August 2nd. The biopharmaceutical company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.07. The firm had revenue of $6.26 billion during the quarter, compared to analyst estimates of $5.88 billion. Gilead Sciences had a net margin of 15.03% and a return on equity of 42.92%. On average, sell-side analysts predict that Gilead Sciences, Inc. will post 6.63 EPS for the current year.
Gilead Sciences Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th will be issued a dividend of $0.73 per share. The ex-dividend date is Wednesday, September 14th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 4.58%. Gilead Sciences’s dividend payout ratio (DPR) is presently 89.02%.
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, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of coronavirus disease 2019; and Epclusa, Harvoni, Vosevi, Vemlidy, and Viread for the treatment of liver diseases.
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