Davis Investment Partners LLC Buys Shares of 5,006 Gilead Sciences, Inc. (NASDAQ:GILD)

Davis Investment Partners LLC purchased a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) in the first quarter, HoldingsChannel reports. The fund purchased 5,006 shares of the biopharmaceutical company’s stock, valued at approximately $533,000.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in Gilead Sciences in the 4th quarter worth about $1,789,254,000. FMR LLC lifted its holdings in shares of Gilead Sciences by 21.6% during the 4th quarter. FMR LLC now owns 40,319,432 shares of the biopharmaceutical company’s stock worth $3,724,306,000 after acquiring an additional 7,157,113 shares during the period. GAMMA Investing LLC boosted its position in shares of Gilead Sciences by 13,891.1% in the first quarter. GAMMA Investing LLC now owns 2,550,298 shares of the biopharmaceutical company’s stock worth $285,761,000 after acquiring an additional 2,532,070 shares during the last quarter. Northern Trust Corp grew its holdings in Gilead Sciences by 19.7% in the fourth quarter. Northern Trust Corp now owns 14,915,095 shares of the biopharmaceutical company’s stock valued at $1,377,707,000 after purchasing an additional 2,458,954 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Gilead Sciences during the fourth quarter worth approximately $207,340,000. Institutional investors and hedge funds own 83.67% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Morgan Stanley lifted their price target on shares of Gilead Sciences from $130.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, April 25th. Royal Bank of Canada increased their target price on Gilead Sciences from $84.00 to $90.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 12th. BMO Capital Markets boosted their price target on Gilead Sciences from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. upped their price target on Gilead Sciences from $120.00 to $130.00 and gave the stock an “overweight” rating in a research note on Thursday, March 27th. Finally, Bank of America raised their price objective on Gilead Sciences from $116.00 to $126.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Nine analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $110.55.

Gilead Sciences Trading Down 0.7%

GILD opened at $109.30 on Thursday. The firm’s 50 day moving average is $105.40 and its 200-day moving average is $101.91. Gilead Sciences, Inc. has a 52-week low of $62.69 and a 52-week high of $119.96. The company has a quick ratio of 1.20, a current ratio of 1.50 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $135.96 billion, a P/E ratio of 295.41, a P/E/G ratio of 0.71 and a beta of 0.29.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.04. Gilead Sciences had a net margin of 1.67% and a return on equity of 31.63%. The firm had revenue of $6.67 billion for the quarter, compared to the consensus estimate of $6.77 billion. During the same quarter in the previous year, the firm posted ($1.32) EPS. The firm’s quarterly revenue was down .3% on a year-over-year basis. Analysts expect that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend is Friday, June 13th. Gilead Sciences’s payout ratio is 66.53%.

Insider Buying and Selling

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 2,500 shares of the stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $106.40, for a total transaction of $266,000.00. Following the transaction, the chief financial officer now directly owns 168,174 shares in the company, valued at $17,893,713.60. This represents a 1.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Daniel Patrick O’day sold 10,000 shares of the firm’s stock in a transaction on Friday, May 30th. The stock was sold at an average price of $110.42, for a total transaction of $1,104,200.00. Following the transaction, the chief executive officer now directly owns 620,268 shares of the company’s stock, valued at approximately $68,489,992.56. This represents a 1.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,000 shares of company stock worth $4,630,310. 0.27% of the stock is currently owned by corporate insiders.

About Gilead Sciences

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.