Geode Capital Management LLC Purchases 749,047 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Geode Capital Management LLC lifted its holdings in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 2.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,289,917 shares of the biopharmaceutical company's stock after purchasing an additional 749,047 shares during the period. Geode Capital Management LLC owned about 2.27% of Gilead Sciences worth $2,608,337,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in GILD. HHM Wealth Advisors LLC grew its holdings in shares of Gilead Sciences by 118.5% in the 4th quarter. HHM Wealth Advisors LLC now owns 284 shares of the biopharmaceutical company's stock worth $26,000 after acquiring an additional 154 shares during the last quarter. YANKCOM Partnership purchased a new position in Gilead Sciences in the 4th quarter worth about $28,000. Decker Retirement Planning Inc. acquired a new stake in Gilead Sciences during the 4th quarter worth about $29,000. Crews Bank & Trust acquired a new stake in Gilead Sciences during the 4th quarter worth about $31,000. Finally, Stephens Consulting LLC lifted its stake in Gilead Sciences by 325.0% during the fourth quarter. Stephens Consulting LLC now owns 340 shares of the biopharmaceutical company's stock valued at $31,000 after buying an additional 260 shares in the last quarter. Institutional investors and hedge funds own 83.67% of the company's stock.

Insider Buying and Selling at Gilead Sciences

In related news, CFO Andrew D. Dickinson sold 142,180 shares of Gilead Sciences stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $97.22, for a total value of $13,822,739.60. Following the completion of the transaction, the chief financial officer now directly owns 129,873 shares of the company's stock, valued at $12,626,253.06. The trade was a 52.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In the last quarter, insiders sold 302,785 shares of company stock worth $30,503,250. 0.16% of the stock is currently owned by insiders.

Remove Ads

Gilead Sciences Price Performance

NASDAQ:GILD traded up $0.50 during trading hours on Thursday, reaching $112.39. The company had a trading volume of 10,041,148 shares, compared to its average volume of 7,317,884. The company has a quick ratio of 1.20, a current ratio of 1.50 and a debt-to-equity ratio of 1.24. The stock has a 50-day moving average of $106.63 and a two-hundred day moving average of $95.52. Gilead Sciences, Inc. has a one year low of $62.07 and a one year high of $119.96. The firm has a market capitalization of $139.94 billion, a PE ratio of 303.76, a PEG ratio of 0.71 and a beta of 0.32.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced its earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.67 by $0.23. Gilead Sciences had a net margin of 1.67% and a return on equity of 31.63%. Analysts forecast that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 2.81%. This is a boost from Gilead Sciences's previous quarterly dividend of $0.77. The ex-dividend date was Friday, March 14th. Gilead Sciences's dividend payout ratio (DPR) is currently 854.05%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Gilead Sciences from $120.00 to $130.00 and gave the stock an "overweight" rating in a research report on Thursday, March 27th. The Goldman Sachs Group raised their price objective on Gilead Sciences from $85.00 to $96.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 12th. Needham & Company LLC restated a "hold" rating on shares of Gilead Sciences in a report on Wednesday, February 12th. Wells Fargo & Company increased their target price on shares of Gilead Sciences from $120.00 to $140.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 5th. Finally, Royal Bank of Canada increased their price objective on Gilead Sciences from $84.00 to $90.00 and gave the stock a "sector perform" rating in a report on Wednesday, February 12th. Eleven analysts have rated the stock with a hold rating, fifteen have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $105.12.

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.