Gilead Sciences, Inc. (NASDAQ:GILD) Shares Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB grew its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 85.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,094,880 shares of the biopharmaceutical company’s stock after purchasing an additional 504,724 shares during the period. Handelsbanken Fonder AB owned about 0.09% of Gilead Sciences worth $122,681,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Annis Gardner Whiting Capital Advisors LLC raised its position in Gilead Sciences by 158.8% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 352 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 216 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in Gilead Sciences in the fourth quarter valued at approximately $33,000. Morton Brown Family Wealth LLC purchased a new position in Gilead Sciences in the fourth quarter worth approximately $35,000. Whipplewood Advisors LLC acquired a new position in Gilead Sciences during the 4th quarter worth approximately $35,000. Finally, Synergy Investment Management LLC purchased a new stake in shares of Gilead Sciences in the 4th quarter valued at approximately $40,000. Institutional investors and hedge funds own 83.67% of the company’s stock.

Gilead Sciences Trading Up 0.5%

Shares of Gilead Sciences stock opened at $113.00 on Tuesday. Gilead Sciences, Inc. has a 1 year low of $62.69 and a 1 year high of $119.96. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.50 and a quick ratio of 1.20. The business has a 50 day moving average price of $105.41 and a 200 day moving average price of $101.80. The company has a market capitalization of $140.56 billion, a P/E ratio of 305.41, a P/E/G ratio of 0.71 and a beta of 0.29.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.04. The company had revenue of $6.67 billion during the quarter, compared to analysts’ expectations of $6.77 billion. Gilead Sciences had a return on equity of 31.63% and a net margin of 1.67%. The business’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.32) earnings per share. Sell-side analysts anticipate that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be issued a $0.79 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $3.16 dividend on an annualized basis and a yield of 2.80%. Gilead Sciences’s dividend payout ratio (DPR) is 66.53%.

Wall Street Analyst Weigh In

GILD has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Gilead Sciences from $120.00 to $130.00 and gave the stock an “overweight” rating in a research note on Thursday, March 27th. Morgan Stanley upped their target price on Gilead Sciences from $130.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. Cantor Fitzgerald began coverage on Gilead Sciences in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $125.00 price target on the stock. Piper Sandler increased their price objective on Gilead Sciences from $105.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Finally, DZ Bank upgraded shares of Gilead Sciences from a “hold” rating to a “buy” rating and set a $108.00 target price on the stock in a research report on Thursday, February 13th. Nine analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Gilead Sciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.55.

Insider Transactions at Gilead Sciences

In related news, CEO Daniel Patrick O’day sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $110.42, for a total transaction of $1,104,200.00. Following the completion of the transaction, the chief executive officer now owns 620,268 shares of the company’s stock, valued at approximately $68,489,992.56. This represents a 1.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Andrew D. Dickinson sold 2,500 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $99.82, for a total transaction of $249,550.00. Following the transaction, the chief financial officer now directly owns 165,674 shares in the company, valued at approximately $16,537,578.68. This represents a 1.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,000 shares of company stock worth $4,630,310 over the last ninety days. 0.27% of the stock is currently owned by corporate 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.