Gilead Sciences, Inc. (NASDAQ:GILD) Shares Acquired by Elkhorn Partners Limited Partnership

Elkhorn Partners Limited Partnership grew its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 494.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,650 shares of the biopharmaceutical company’s stock after purchasing an additional 4,700 shares during the period. Gilead Sciences comprises about 0.3% of Elkhorn Partners Limited Partnership’s holdings, making the stock its 17th biggest holding. Elkhorn Partners Limited Partnership’s holdings in Gilead Sciences were worth $388,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of GILD. The Manufacturers Life Insurance Company lifted its stake in Gilead Sciences by 78.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 7,632,000 shares of the biopharmaceutical company’s stock worth $618,268,000 after acquiring an additional 3,362,505 shares in the last quarter. Vanguard Group Inc. grew its holdings in Gilead Sciences by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 114,732,575 shares of the biopharmaceutical company’s stock valued at $8,404,161,000 after buying an additional 2,910,147 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of 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 worth $1,509,227,000 after acquiring an additional 2,350,550 shares during the period. Swedbank AB bought a new stake in shares of Gilead Sciences in the 1st quarter worth approximately $134,489,000. Finally, Capital Research Global Investors lifted its position in shares of Gilead Sciences by 3.0% in the 4th quarter. Capital Research Global Investors now owns 59,657,126 shares of the biopharmaceutical company’s stock worth $4,832,824,000 after acquiring an additional 1,743,418 shares during the period. 83.67% of the stock is owned by hedge funds and other institutional investors.

Gilead Sciences Stock Down 0.1 %

Shares of Gilead Sciences stock opened at $83.05 on Wednesday. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $87.86. The business has a 50-day moving average of $76.09 and a two-hundred day moving average of $71.00. The company has a market capitalization of $103.47 billion, a P/E ratio of 230.69, a price-to-earnings-growth ratio of 2.80 and a beta of 0.18. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.14 and a quick ratio of 0.95.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share 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 analysts’ expectations of $6.64 billion. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. As a group, equities analysts predict that Gilead Sciences, Inc. will post 3.78 EPS for the current year.

Gilead Sciences Dividend Announcement

The company 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. The ex-dividend date is Friday, September 13th. This represents a $3.08 annualized dividend and a dividend yield of 3.71%. Gilead Sciences’s dividend payout ratio is currently 855.56%.

Analysts Set New Price Targets

A number of analysts have commented on the company. Royal Bank of Canada raised their price objective on Gilead Sciences from $72.00 to $74.00 and gave the stock a “sector perform” rating in a research report on Wednesday, September 4th. Robert W. Baird restated a “neutral” rating and set a $80.00 target price on shares of Gilead Sciences in a research report on Thursday, June 20th. Raymond James upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 target price for the company in a research report on Monday, July 8th. Truist Financial raised their target price on Gilead Sciences from $82.00 to $83.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a report on Thursday, August 15th. Twelve research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $82.06.

Insider Transactions at Gilead Sciences

In related news, insider Johanna Mercier sold 5,490 shares of the 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 directly owns 114,979 shares of the company’s stock, valued at $8,506,146.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $68.63, for a total transaction of $137,260.00. Following the completion of the transaction, the insider now directly owns 96,380 shares of the company’s stock, valued at $6,614,559.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Johanna Mercier sold 5,490 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total value of $406,150.20. Following the completion of the sale, the insider now owns 114,979 shares in the company, valued at approximately $8,506,146.42. The disclosure for this sale can be found here. Insiders sold 36,847 shares of company stock valued at $3,002,940 over the last three months. Company insiders own 0.16% of the company’s stock.

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.