Jackson Square Capital LLC Acquires 5,762 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Jackson Square Capital LLC raised its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 256.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,011 shares of the biopharmaceutical company’s stock after buying an additional 5,762 shares during the period. Jackson Square Capital LLC’s holdings in Gilead Sciences were worth $898,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FMR LLC increased its stake in shares of Gilead Sciences by 21.6% during the fourth quarter. FMR LLC now owns 40,319,432 shares of the biopharmaceutical company’s stock worth $3,724,306,000 after purchasing an additional 7,157,113 shares during the period. Wellington Management Group LLP increased its stake in shares of Gilead Sciences by 3.1% during the fourth quarter. Wellington Management Group LLP now owns 35,659,007 shares of the biopharmaceutical company’s stock worth $3,293,822,000 after purchasing an additional 1,058,331 shares during the period. Geode Capital Management LLC grew its position in Gilead Sciences by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 28,289,917 shares of the biopharmaceutical company’s stock worth $2,608,337,000 after buying an additional 749,047 shares in the last quarter. Norges Bank bought a new position in Gilead Sciences during the 4th quarter worth $1,789,254,000. Finally, Northern Trust Corp increased its stake in Gilead Sciences by 19.7% during the 4th quarter. Northern Trust Corp now owns 14,915,095 shares of the biopharmaceutical company’s stock worth $1,377,707,000 after acquiring an additional 2,458,954 shares during the period. Institutional investors own 83.67% of the company’s stock.

Insider Activity

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 stock was sold at an average price of $110.42, for a total value of $1,104,200.00. Following the sale, the chief executive officer now owns 620,268 shares in the company, valued at $68,489,992.56. This represents a 1.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Johanna Mercier sold 28,000 shares of the firm’s stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $107.52, for a total transaction of $3,010,560.00. Following the transaction, the insider now directly owns 121,152 shares of the company’s stock, valued at approximately $13,026,263.04. This trade represents a 18.77% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,000 shares of company stock worth $4,630,310. Corporate insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

GILD has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft upgraded Gilead Sciences from a “hold” rating to a “buy” rating and raised their price objective for the stock from $80.00 to $120.00 in a research note on Tuesday, February 18th. Morgan Stanley raised their price objective on Gilead Sciences from $130.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, April 25th. Oppenheimer lowered their price objective on Gilead Sciences from $132.00 to $125.00 and set an “outperform” rating on the stock in a research note on Friday, April 25th. Cantor Fitzgerald started coverage on Gilead Sciences in a research note on Tuesday, April 22nd. They set an “overweight” rating and a $125.00 price objective on the stock. Finally, Bank of America boosted their price target on Gilead Sciences from $116.00 to $126.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $110.55.

Gilead Sciences Trading Down 1.8%

Shares of GILD stock opened at $109.98 on Friday. Gilead Sciences, Inc. has a 52-week low of $62.69 and a 52-week high of $119.96. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.20 and a current ratio of 1.50. The firm has a market capitalization of $136.81 billion, a PE ratio of 297.24, a PEG ratio of 0.71 and a beta of 0.29. The stock has a fifty day simple moving average of $105.67 and a two-hundred day simple moving average of $102.19.

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

Gilead Sciences Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be given a $0.79 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $3.16 annualized dividend and a dividend yield of 2.87%. Gilead Sciences’s payout ratio is presently 66.53%.

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.