Letko Brosseau & Associates Inc. Acquires 17,075 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Letko Brosseau & Associates Inc. grew its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 1.8% in the second quarter, HoldingsChannel.com reports. The firm owned 967,533 shares of the biopharmaceutical company’s stock after purchasing an additional 17,075 shares during the period. Letko Brosseau & Associates Inc.’s holdings in Gilead Sciences were worth $66,382,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of GILD. CarsonAllaria Wealth Management Ltd. increased its position in shares of Gilead Sciences by 198.3% during the second quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 238 shares during the last quarter. Private Wealth Management Group LLC purchased a new position in shares of Gilead Sciences in the 4th quarter worth about $29,000. Palisade Asset Management LLC bought a new position in Gilead Sciences during the first quarter valued at about $29,000. Sachetta LLC purchased a new stake in Gilead Sciences during the fourth quarter worth about $30,000. Finally, Financial Connections Group Inc. bought a new stake in Gilead Sciences in the second quarter worth about $34,000. 83.67% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Gilead Sciences

In related news, insider Johanna Mercier sold 5,490 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total value of $406,150.20. Following the transaction, the insider now owns 114,979 shares of the company’s stock, valued at $8,506,146.42. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Merdad Parsey sold 2,000 shares of the 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 owns 96,380 shares of the company’s stock, valued at approximately $6,614,559.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Johanna Mercier sold 5,490 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total transaction of $406,150.20. Following the completion of the sale, the insider now directly owns 114,979 shares of the company’s stock, valued at $8,506,146.42. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by insiders.

Gilead Sciences Price Performance

Gilead Sciences stock traded down $0.05 during midday trading on Friday, hitting $78.72. 9,220,980 shares of the company’s stock were exchanged, compared to its average volume of 7,163,236. The company has a market cap of $98.07 billion, a P/E ratio of 218.67, a PEG ratio of 2.74 and a beta of 0.18. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.95 and a current ratio of 1.14. The stock has a 50-day moving average price of $74.06 and a two-hundred day moving average price of $70.57. Gilead Sciences, Inc. has a 52-week low of $62.07 and a 52-week high of $87.86.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $2.01 EPS for the quarter, topping the consensus estimate of $1.61 by $0.40. The company had revenue of $6.95 billion during the quarter, compared to analyst estimates of $6.64 billion. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. On average, equities research analysts forecast that Gilead Sciences, Inc. will post 3.78 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 3.91%. The ex-dividend date of this dividend is Friday, September 13th. Gilead Sciences’s dividend payout ratio (DPR) is currently 855.56%.

Analyst Upgrades and Downgrades

GILD has been the subject of several research analyst reports. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a research note on Thursday, August 15th. Cantor Fitzgerald reissued a “neutral” rating and issued a $70.00 target price on shares of Gilead Sciences in a research report on Friday, August 9th. Royal Bank of Canada upped their price target on Gilead Sciences from $72.00 to $74.00 and gave the company a “sector perform” rating in a research report on Wednesday. Truist Financial lifted their price objective on Gilead Sciences from $82.00 to $83.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Finally, Evercore ISI raised shares of Gilead Sciences to a “strong-buy” rating in a report on Friday, August 9th. Twelve equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.