CPA Asset Management LLC Makes New Investment in Gilead Sciences, Inc. (NASDAQ:GILD)

CPA Asset Management LLC bought a new stake in Gilead Sciences, Inc. (NASDAQ:GILD) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,042 shares of the biopharmaceutical company’s stock, valued at approximately $229,000.

Several other institutional investors and hedge funds have also modified their holdings of GILD. Norges Bank acquired a new stake in shares of Gilead Sciences in the fourth quarter valued at $1,789,254,000. FMR LLC grew its holdings in Gilead Sciences by 21.6% during the 4th quarter. FMR LLC now owns 40,319,432 shares of the biopharmaceutical company’s stock worth $3,724,306,000 after acquiring an additional 7,157,113 shares during the last quarter. GAMMA Investing LLC increased its position in Gilead Sciences by 13,891.1% in the 1st quarter. GAMMA Investing LLC now owns 2,550,298 shares of the biopharmaceutical company’s stock valued at $285,761,000 after acquiring an additional 2,532,070 shares in the last quarter. Northern Trust Corp raised its stake in shares of Gilead Sciences by 19.7% in the fourth 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 last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Gilead Sciences during the fourth quarter valued at approximately $207,340,000. 83.67% of the stock is owned by institutional investors and hedge funds.

Gilead Sciences Price Performance

Shares of NASDAQ GILD opened at $108.00 on Friday. The firm has a market cap of $134.34 billion, a P/E ratio of 22.74, a price-to-earnings-growth ratio of 0.70 and a beta of 0.29. The business’s 50 day moving average is $106.07 and its 200-day moving average is $102.63. The company has a current ratio of 1.37, a quick ratio of 1.23 and a debt-to-equity ratio of 1.16. Gilead Sciences, Inc. has a 1-year low of $64.86 and a 1-year high of $119.96.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share 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 analysts’ expectations of $6.77 billion. Gilead Sciences had a return on equity of 51.93% and a net margin of 20.76%. The company’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter last year, the business earned ($1.32) EPS. Equities research analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders 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 dividend yield of 2.93%. Gilead Sciences’s dividend payout ratio is presently 66.53%.

Insider Activity

In other news, CEO Daniel Patrick O’day sold 10,000 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $110.42, for a total transaction of $1,104,200.00. Following the sale, the chief executive officer now directly owns 620,268 shares of the company’s stock, valued at approximately $68,489,992.56. This represents a 1.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Johanna Mercier sold 28,000 shares of the business’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 completion of 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 sold 48,500 shares of company stock worth $5,236,245. Corporate insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on GILD shares. Oppenheimer reduced their price objective on Gilead Sciences from $132.00 to $125.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Wells Fargo & Company upped their price target on Gilead Sciences from $120.00 to $140.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Cantor Fitzgerald began coverage on Gilead Sciences in a research report on Tuesday, April 22nd. They issued an “overweight” rating and a $125.00 price objective for the company. Bank of America upped their target price on shares of Gilead Sciences from $116.00 to $126.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a research report on Wednesday, May 21st. Nine research 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.55.

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, 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.