Gilead Sciences, Inc. (NASDAQ:GILD) Shares Bought by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. grew its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 58.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,444 shares of the biopharmaceutical company’s stock after purchasing an additional 12,018 shares during the period. E Fund Management Co. Ltd.’s holdings in Gilead Sciences were worth $2,226,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. CarsonAllaria Wealth Management Ltd. boosted its stake in shares of Gilead Sciences by 198.3% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 238 shares during the last quarter. Sachetta LLC acquired a new stake in shares of Gilead Sciences during the 4th quarter worth about $30,000. Palisade Asset Management LLC acquired a new stake in shares of Gilead Sciences during the 1st quarter worth about $29,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Gilead Sciences during the 4th quarter worth about $36,000. Finally, Fortis Group Advisors LLC boosted its position in shares of Gilead Sciences by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 492 shares of the biopharmaceutical company’s stock worth $40,000 after acquiring an additional 246 shares during the last quarter. 83.67% of the stock is owned by institutional investors and hedge funds.

Gilead Sciences Trading Down 0.1 %

GILD opened at $83.05 on Wednesday. The firm has a market capitalization of $103.47 billion, a P/E ratio of 230.69, a P/E/G ratio of 2.80 and a beta of 0.18. The firm’s 50 day moving average is $76.09 and its 200-day moving average is $71.00. Gilead Sciences, Inc. has a 52-week low of $62.07 and a 52-week high of $87.86. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 1.18.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.40. The company had revenue of $6.95 billion for the quarter, compared to analyst estimates of $6.64 billion. Gilead Sciences had a net margin of 3.79% and a return on equity of 29.34%. Analysts expect that Gilead Sciences, Inc. will post 3.78 EPS for the current fiscal 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 paid a dividend of $0.77 per share. The ex-dividend date is Friday, September 13th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.71%. Gilead Sciences’s dividend payout ratio is currently 855.56%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GILD. Piper Sandler reissued an “overweight” rating and issued a $95.00 target price on shares of Gilead Sciences in a research report on Wednesday, September 11th. Raymond James raised shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 target price on the stock in a research report on Monday, July 8th. Cantor Fitzgerald reissued a “neutral” rating and issued a $70.00 target price on shares of Gilead Sciences in a research report on Monday. Evercore ISI raised shares of Gilead Sciences to a “strong-buy” rating in a research report on Friday, August 9th. Finally, Truist Financial raised their target price on shares of Gilead Sciences from $82.00 to $83.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Twelve analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $82.06.

Insider Activity

In other news, insider Johanna Mercier sold 29,357 shares of Gilead Sciences stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the sale, the insider now owns 78,127 shares in the company, valued at $6,545,480.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Johanna Mercier sold 29,357 shares of Gilead Sciences stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total value of $2,459,529.46. Following the completion of the sale, the insider now owns 78,127 shares in the company, valued at $6,545,480.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction 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 sale, 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. Insiders have sold 36,847 shares of company stock worth $3,002,940 over the last 90 days. Company insiders own 0.16% of the company’s stock.

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.