Ruffer LLP Invests $6.50 Million in Gilead Sciences, Inc. (NASDAQ:GILD)

Ruffer LLP acquired a new stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 70,399 shares of the biopharmaceutical company's stock, valued at approximately $6,503,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Swedbank AB boosted its stake in shares of Gilead Sciences by 10.2% during the 3rd quarter. Swedbank AB now owns 2,047,609 shares of the biopharmaceutical company's stock worth $171,672,000 after acquiring an additional 189,622 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Gilead Sciences by 4.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,451,249 shares of the biopharmaceutical company's stock valued at $121,673,000 after acquiring an additional 59,181 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Gilead Sciences in the 3rd quarter valued at approximately $144,000. CWA Asset Management Group LLC acquired a new stake in Gilead Sciences during the third quarter worth $6,353,000. Finally, Rovin Capital UT ADV increased its position in shares of Gilead Sciences by 14.5% during the 3rd quarter. Rovin Capital UT ADV now owns 9,659 shares of the biopharmaceutical company's stock worth $810,000 after purchasing an additional 1,226 shares during the last quarter. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 2,500 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $91.35, for a total transaction of $228,375.00. Following the completion of the sale, the chief financial officer now directly owns 129,873 shares of the company's stock, valued at approximately $11,863,898.55. This trade represents a 1.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders have sold 293,356 shares of company stock valued at $29,166,240. Insiders own 0.16% of the company's stock.

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Gilead Sciences Stock Performance

Shares of GILD stock traded down $2.78 during mid-day trading on Tuesday, hitting $114.43. 11,454,917 shares of the stock were exchanged, compared to its average volume of 8,174,885. Gilead Sciences, Inc. has a 12-month low of $62.07 and a 12-month high of $119.96. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.20 and a current ratio of 1.50. The stock has a market capitalization of $142.50 billion, a price-to-earnings ratio of 309.27, a P/E/G ratio of 0.71 and a beta of 0.21. The stock's fifty day simple moving average is $100.12 and its two-hundred day simple moving average is $91.91.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its quarterly 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 return on equity of 31.63% and a net margin of 1.67%. On average, analysts forecast that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a dividend of $0.79 per share. The ex-dividend date is Friday, March 14th. This represents a $3.16 dividend on an annualized basis and a yield of 2.76%. This is a boost from Gilead Sciences's previous quarterly dividend of $0.77. Gilead Sciences's dividend payout ratio is currently 854.05%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. 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 note on Wednesday, March 5th. Oppenheimer lifted their target price on shares of Gilead Sciences from $115.00 to $132.00 and gave the company an "outperform" rating in a report on Tuesday, March 4th. BMO Capital Markets upped their price target on Gilead Sciences from $110.00 to $115.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. Daiwa America raised Gilead Sciences to a "hold" rating in a research note on Monday, November 18th. Finally, Piper Sandler boosted their price objective on Gilead Sciences from $105.00 to $110.00 and gave the company an "overweight" 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 company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $104.52.

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.