Gateway Investment Advisers LLC Has $7.87 Million Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Gateway Investment Advisers LLC grew its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 0.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 70,220 shares of the biopharmaceutical company’s stock after purchasing an additional 566 shares during the period. Gateway Investment Advisers LLC’s holdings in Gilead Sciences were worth $7,868,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Vanguard Capital Wealth Advisors acquired a new stake in shares of Gilead Sciences during the 1st quarter worth $211,000. Harrington Investments INC lifted its position in Gilead Sciences by 1.2% during the first quarter. Harrington Investments INC now owns 20,043 shares of the biopharmaceutical company’s stock worth $2,246,000 after purchasing an additional 241 shares during the period. First National Corp MA ADV acquired a new stake in Gilead Sciences during the first quarter worth about $226,000. AGH Wealth Advisors LLC bought a new position in Gilead Sciences in the 1st quarter valued at about $208,000. Finally, Kapstone Financial Advisors LLC acquired a new position in shares of Gilead Sciences in the 1st quarter valued at approximately $212,000. 83.67% of the stock is owned by institutional investors.

Gilead Sciences Stock Performance

Shares of Gilead Sciences stock opened at $112.46 on Friday. The stock has a market cap of $139.89 billion, a price-to-earnings ratio of 303.95, a P/E/G ratio of 0.71 and a beta of 0.29. Gilead Sciences, Inc. has a twelve month low of $62.69 and a twelve month high of $119.96. The company’s fifty day moving average is $105.39 and its 200 day moving average is $101.56. The company has a quick ratio of 1.20, a current ratio of 1.50 and a debt-to-equity ratio of 1.24.

Gilead Sciences (NASDAQ:GILD) last announced its 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 firm had revenue of $6.67 billion for the quarter, compared to the consensus estimate of $6.77 billion. Gilead Sciences had a return on equity of 31.63% and a net margin of 1.67%. The business’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.32) EPS. Sell-side analysts forecast that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be issued a dividend of $0.79 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $3.16 annualized dividend and a yield of 2.81%. Gilead Sciences’s payout ratio is 66.53%.

Insider Transactions at Gilead Sciences

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 17,929 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $118.17, for a total transaction of $2,118,669.93. Following the completion of the sale, the chief financial officer now directly owns 169,061 shares in the company, valued at approximately $19,977,938.37. This trade represents a 9.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Johanna Mercier sold 28,000 shares of the company’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $107.52, for a total value of $3,010,560.00. Following the sale, the insider now owns 121,152 shares in the company, valued at approximately $13,026,263.04. The trade was a 18.77% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 60,929 shares of company stock worth $6,748,980. Company insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Gilead Sciences from a “hold” rating to a “buy” rating and increased their price target for the stock from $80.00 to $120.00 in a research report on Tuesday, February 18th. JPMorgan Chase & Co. lifted their price target on Gilead Sciences from $120.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, March 27th. Piper Sandler boosted their price target on Gilead Sciences from $105.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. BMO Capital Markets raised their price objective on Gilead Sciences from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Finally, Morgan Stanley boosted their target price on Gilead Sciences from $130.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, April 25th. Nine investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $110.55.

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.