Founders Financial Securities LLC Raises Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Founders Financial Securities LLC raised its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 7.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,832 shares of the biopharmaceutical company’s stock after purchasing an additional 833 shares during the period. Founders Financial Securities LLC’s holdings in Gilead Sciences were worth $867,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Norges Bank purchased a new stake in shares of Gilead Sciences in the fourth quarter worth approximately $1,301,624,000. The Manufacturers Life Insurance Company raised its holdings in shares of Gilead Sciences by 78.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 7,632,000 shares of the biopharmaceutical company’s stock worth $618,268,000 after acquiring an additional 3,362,505 shares in the last quarter. Wellington Management Group LLP boosted its position in Gilead Sciences by 14.4% during the fourth quarter. Wellington Management Group LLP now owns 18,630,134 shares of the biopharmaceutical company’s stock valued at $1,509,227,000 after purchasing an additional 2,350,550 shares during the last quarter. abrdn plc grew its stake in 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 in the last quarter. Finally, Capital Research Global Investors increased its position in Gilead Sciences by 3.0% in the 4th quarter. Capital Research Global Investors now owns 59,657,126 shares of the biopharmaceutical company’s stock worth $4,832,824,000 after purchasing an additional 1,743,418 shares during the last quarter. Institutional investors and hedge funds own 83.67% of the company’s stock.

Insider Buying and Selling

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $72.96, for a total transaction of $145,920.00. Following the transaction, the insider now directly owns 96,304 shares in the company, valued at $7,026,339.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.16% of the stock is currently owned by company insiders.

Gilead Sciences Stock Down 0.3 %

NASDAQ GILD traded down $0.22 on Friday, hitting $68.61. 9,590,049 shares of the company were exchanged, compared to its average volume of 9,497,302. The stock has a fifty day moving average of $65.98 and a 200-day moving average of $72.58. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $87.86. The company has a market cap of $85.48 billion, a PE ratio of 190.58, a PEG ratio of 2.93 and a beta of 0.20. The company has a current ratio of 1.08, a quick ratio of 0.94 and a debt-to-equity ratio of 1.31.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.32) EPS for the quarter, topping the consensus estimate of ($1.49) by $0.17. The firm had revenue of $6.69 billion during the quarter, compared to the consensus estimate of $6.36 billion. Gilead Sciences had a return on equity of 24.34% and a net margin of 1.76%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.37 earnings per share. As a group, analysts forecast that Gilead Sciences, Inc. will post 3.75 earnings per share for the current year.

Gilead Sciences Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Friday, June 14th were paid a $0.77 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $3.08 annualized dividend and a yield of 4.49%. Gilead Sciences’s dividend payout ratio is currently 855.56%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on GILD shares. Wells Fargo & Company dropped their target price on shares of Gilead Sciences from $84.00 to $77.00 and set an “equal weight” rating on the stock in a report on Monday, March 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research report on Friday, April 26th. Barclays lowered their price target on shares of Gilead Sciences from $80.00 to $76.00 and set an “equal weight” rating on the stock in a report on Monday, April 29th. Robert W. Baird reaffirmed a “neutral” rating and set a $80.00 price objective on shares of Gilead Sciences in a report on Thursday, June 20th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $74.00 price target on shares of Gilead Sciences in a research report on Friday, June 14th. Twelve analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $83.47.

Gilead Sciences 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.