Kerusso Capital Management LLC Invests $2.21 Million in Gilead Sciences, Inc. (NASDAQ:GILD)

Kerusso Capital Management LLC purchased a new stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) in the 2nd quarter, Holdings Channel reports. The fund purchased 32,265 shares of the biopharmaceutical company’s stock, valued at approximately $2,214,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake 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. Capital World Investors lifted its position in Gilead Sciences by 1.4% during the 1st quarter. Capital World Investors now owns 84,497,404 shares of the biopharmaceutical company’s stock worth $6,189,435,000 after buying an additional 1,133,281 shares in the last quarter. Capital Research Global Investors grew its holdings in Gilead Sciences by 2.7% during the 1st quarter. Capital Research Global Investors now owns 61,246,366 shares of the biopharmaceutical company’s stock worth $4,486,296,000 after acquiring an additional 1,589,240 shares during the last quarter. Wellington Management Group LLP increased its position in Gilead Sciences by 14.4% in the 4th quarter. Wellington Management Group LLP now owns 18,630,134 shares of the biopharmaceutical company’s stock valued at $1,509,227,000 after acquiring an additional 2,350,550 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Gilead Sciences in the fourth quarter worth about $1,301,624,000. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

Gilead Sciences Stock Down 0.1 %

Shares of NASDAQ:GILD opened at $78.72 on Friday. Gilead Sciences, Inc. has a 52 week low of $62.07 and a 52 week high of $87.86. The company has a market capitalization of $98.07 billion, a PE 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 company has a 50 day moving average price of $74.06 and a two-hundred day moving average price of $70.56.

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

Gilead Sciences Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a $0.77 dividend. 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 is 855.56%.

Wall Street Analysts Forecast Growth

GILD has been the subject of a number of research reports. BMO Capital Markets raised their price target on shares of Gilead Sciences from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a research note on Thursday, August 15th. Evercore ISI raised Gilead Sciences to a “strong-buy” rating in a research note on Friday, August 9th. Robert W. Baird reiterated a “neutral” rating and issued a $80.00 price target on shares of Gilead Sciences in a report on Thursday, June 20th. Finally, Raymond James raised Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price objective for the company in a report on Monday, July 8th. Twelve 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $82.06.

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.