FORA Capital LLC Makes New Investment in Gilead Sciences, Inc. (NASDAQ:GILD)

FORA Capital LLC bought a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 21,315 shares of the biopharmaceutical company’s stock, valued at approximately $1,561,000.

Several other institutional investors have also modified their holdings of the business. Norges Bank bought a new position in Gilead Sciences during the 4th quarter worth $1,301,624,000. The Manufacturers Life Insurance Company grew its position 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 during the last quarter. Wellington Management Group LLP increased its holdings in shares of Gilead Sciences by 14.4% in the 4th quarter. Wellington Management Group LLP now owns 18,630,134 shares of the biopharmaceutical company’s stock worth $1,509,227,000 after acquiring an additional 2,350,550 shares during the period. abrdn plc lifted its position in Gilead Sciences by 89.0% in the 4th 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 during the last quarter. Finally, Capital Research Global Investors boosted its stake in Gilead Sciences by 3.0% during the 4th quarter. Capital Research Global Investors now owns 59,657,126 shares of the biopharmaceutical company’s stock valued at $4,832,824,000 after purchasing an additional 1,743,418 shares during the period. Institutional investors and hedge funds own 83.67% of the company’s stock.

Insiders Place Their Bets

In other news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $68.63, for a total transaction of $137,260.00. Following the transaction, the insider now directly owns 96,380 shares in the company, valued at approximately $6,614,559.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GILD. Royal Bank of Canada reiterated a “sector perform” rating and set a $74.00 price objective on shares of Gilead Sciences in a research report on Monday, July 1st. Maxim Group reduced their price objective on shares of Gilead Sciences from $90.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a research note on Friday, April 26th. TD Cowen dropped their price target on shares of Gilead Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, April 26th. Finally, Morgan Stanley decreased their price objective on shares of Gilead Sciences from $80.00 to $78.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Twelve equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $84.00.

Gilead Sciences Trading Down 0.7 %

GILD stock traded down $0.49 during mid-day trading on Tuesday, reaching $67.06. 1,906,721 shares of the stock traded hands, compared to its average volume of 7,500,530. The stock’s fifty day moving average is $66.12 and its 200-day moving average is $71.99. The company has a market cap of $83.55 billion, a P/E ratio of 186.58, a P/E/G ratio of 2.83 and a beta of 0.18. 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, Inc. has a 52-week low of $62.07 and a 52-week high of $87.86.

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

Gilead Sciences Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Friday, June 14th were paid a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 4.59%. The ex-dividend date of this dividend was Friday, June 14th. Gilead Sciences’s dividend payout ratio is currently 855.56%.

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.