Headlands Technologies LLC Raises Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Headlands Technologies LLC boosted its stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 74.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,049 shares of the biopharmaceutical company's stock after acquiring an additional 10,267 shares during the period. Headlands Technologies LLC's holdings in Gilead Sciences were worth $1,650,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new position in Gilead Sciences in the fourth quarter valued at $1,301,624,000. The Manufacturers Life Insurance Company grew its stake in 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 purchasing an additional 3,362,505 shares during the period. Vanguard Group Inc. increased its holdings in Gilead Sciences by 2.6% in the first quarter. Vanguard Group Inc. now owns 114,732,575 shares of the biopharmaceutical company's stock worth $8,404,161,000 after purchasing an additional 2,910,147 shares in the last quarter. Wellington Management Group LLP lifted its stake in Gilead Sciences by 14.4% in the fourth quarter. Wellington Management Group LLP now owns 18,630,134 shares of the biopharmaceutical company's stock valued at $1,509,227,000 after buying an additional 2,350,550 shares during the period. Finally, Swedbank AB acquired a new position in shares of Gilead Sciences during the 1st quarter valued at $134,489,000. Institutional investors and hedge funds own 83.67% of the company's stock.

Gilead Sciences Stock Performance

GILD traded down $0.50 during trading on Wednesday, hitting $80.94. The company's stock had a trading volume of 6,144,783 shares, compared to its average volume of 7,147,585. The business's 50 day simple moving average is $74.82 and its 200-day simple moving average is $70.72. The firm has a market cap of $100.77 billion, a PE ratio of 224.83, a P/E/G ratio of 2.73 and a beta of 0.18. Gilead Sciences, Inc. has a one year low of $62.07 and a one year high of $87.86. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 1.18.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.40. The firm had revenue of $6.95 billion during the quarter, compared to analysts' expectations of $6.64 billion. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. As a group, sell-side analysts predict that Gilead Sciences, Inc. will post 3.78 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date is Friday, September 13th. Gilead Sciences's dividend payout ratio (DPR) is 855.56%.

Insider Activity

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $68.63, for a total value of $137,260.00. Following the transaction, the insider now owns 96,380 shares in the company, valued at $6,614,559.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Johanna Mercier sold 5,490 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total value of $406,150.20. Following the completion of the transaction, the insider now directly owns 114,979 shares of the company's stock, valued at approximately $8,506,146.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $68.63, for a total transaction of $137,260.00. Following the completion of the sale, the insider now owns 96,380 shares of the company's stock, valued at $6,614,559.40. The disclosure for this sale can be found here. Company insiders own 0.16% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Needham & Company LLC reiterated a "hold" rating on shares of Gilead Sciences in a report on Thursday, August 15th. Royal Bank of Canada boosted their target price on shares of Gilead Sciences from $72.00 to $74.00 and gave the company a "sector perform" rating in a research note on Wednesday, September 4th. Robert W. Baird reaffirmed a "neutral" rating and issued a $80.00 price target on shares of Gilead Sciences in a report on Thursday, June 20th. BMO Capital Markets boosted their target price on Gilead Sciences from $80.00 to $85.00 and gave the stock an "outperform" rating in a research report on Friday, August 9th. Finally, Truist Financial lifted their price objective on shares of Gilead Sciences from $82.00 to $83.00 and gave the stock a "hold" rating in a report on Thursday, August 15th. Twelve analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $82.06.

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.