North Forty Two & Co. Makes New Investment in Gilead Sciences, Inc. (NASDAQ:GILD)

North Forty Two & Co. purchased a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 6,205 shares of the biopharmaceutical company's stock, valued at approximately $573,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp boosted its stake in Gilead Sciences by 1.4% during the third quarter. State Street Corp now owns 60,171,691 shares of the biopharmaceutical company's stock worth $5,044,795,000 after buying an additional 841,776 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Gilead Sciences by 50.9% in the 3rd quarter. Wellington Management Group LLP now owns 34,600,676 shares of the biopharmaceutical company's stock worth $2,900,921,000 after acquiring an additional 11,665,593 shares during the last quarter. FMR LLC boosted its position in shares of Gilead Sciences by 79.4% during the 3rd quarter. FMR LLC now owns 33,162,319 shares of the biopharmaceutical company's stock worth $2,780,329,000 after purchasing an additional 14,680,161 shares during the period. Geode Capital Management LLC raised its position in Gilead Sciences by 2.1% in the third quarter. Geode Capital Management LLC now owns 27,540,870 shares of the biopharmaceutical company's stock valued at $2,302,119,000 after purchasing an additional 574,421 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Gilead Sciences by 3.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,002,779 shares of the biopharmaceutical company's stock worth $739,217,000 after purchasing an additional 249,804 shares in the last quarter. 83.67% of the stock is owned by institutional investors and hedge funds.

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Gilead Sciences Stock Performance

Shares of GILD traded up $1.21 during midday trading on Friday, reaching $107.08. 26,496,292 shares of the stock were exchanged, compared to its average volume of 6,793,320. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $119.96. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.50 and a quick ratio of 1.20. The company has a market capitalization of $133.35 billion, a price-to-earnings ratio of 289.41, a PEG ratio of 0.71 and a beta of 0.21. The business's 50-day moving average price is $103.68 and its 200 day moving average price is $93.85.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.67 by $0.23. Gilead Sciences had a return on equity of 31.63% and a net margin of 1.67%. On average, sell-side analysts expect that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.

Gilead Sciences Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a dividend of $0.79 per share. This is an increase from Gilead Sciences's previous quarterly dividend of $0.77. This represents a $3.16 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend is Friday, March 14th. Gilead Sciences's dividend payout ratio (DPR) is presently 854.05%.

Insider Buying and Selling at Gilead Sciences

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 142,180 shares of Gilead Sciences stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 129,873 shares in the company, valued at approximately $12,626,253.06. This trade represents a 52.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders have sold 302,785 shares of company stock worth $30,503,250. 0.29% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GILD. Needham & Company LLC reaffirmed a "hold" rating on shares of Gilead Sciences in a research note on Wednesday, February 12th. Wells Fargo & Company increased their price target 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. DZ Bank upgraded shares of Gilead Sciences from a "hold" rating to a "buy" rating and set a $108.00 price objective for the company in a report on Thursday, February 13th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $80.00 target price on shares of Gilead Sciences in a research note on Wednesday, December 11th. Finally, Bank of America raised their price target 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. Eleven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $104.52.

Gilead Sciences Company 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.