Bullseye Investment Management LLC bought a new stake in Gilead Sciences, Inc. (NASDAQ:GILD – Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 16,506 shares of the biopharmaceutical company’s stock, valued at approximately $2,085,000. Gilead Sciences comprises about 1.0% of Bullseye Investment Management LLC’s investment portfolio, making the stock its 19th largest holding.
Other large investors have also added to or reduced their stakes in the company. California State Teachers Retirement System lifted its stake in shares of Gilead Sciences by 12,498.3% during the second quarter. California State Teachers Retirement System now owns 241,168,657 shares of the biopharmaceutical company’s stock worth $30,469,248,000 after buying an additional 239,254,365 shares during the period. BlackRock Inc. acquired a new position in shares of Gilead Sciences in the 2nd quarter valued at $15,393,785,000. Norges Bank purchased a new position in Gilead Sciences in the 4th quarter worth $2,617,152,000. Legal & General Group Plc purchased a new position in Gilead Sciences in the 2nd quarter worth $1,316,606,000. Finally, Deutsche Bank AG acquired a new stake in Gilead Sciences during the 2nd quarter worth about $918,387,000. 83.67% of the stock is currently owned by institutional investors.
Insider Activity at Gilead Sciences
In other Gilead Sciences news, Director Anthony Welters sold 18,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $148.62, for a total value of $2,675,160.00. Following the sale, the director directly owned 12,894 shares of the company’s stock, valued at approximately $1,916,306.28. This trade represents a 58.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Johanna Mercier sold 28,000 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $137.64, for a total value of $3,853,920.00. Following the transaction, the insider owned 118,234 shares in the company, valued at $16,273,727.76. This trade represents a 19.15% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 105,000 shares of company stock valued at $14,495,820 in the last quarter. 0.30% of the stock is currently owned by insiders.
Gilead Sciences Stock Performance
Gilead Sciences (NASDAQ:GILD – Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The biopharmaceutical company reported ($6.75) EPS for the quarter, topping the consensus estimate of ($7.25) by $0.50. The business had revenue of $7.80 billion for the quarter, compared to analyst estimates of $7.40 billion. Gilead Sciences had a negative return on equity of 2.11% and a negative net margin of 10.64%.The business’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.01 EPS. On average, equities analysts expect that Gilead Sciences, Inc. will post -0.48 earnings per share for the current fiscal year.
Gilead Sciences Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be issued a dividend of $0.82 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $3.28 dividend on an annualized basis and a yield of 2.3%. Gilead Sciences’s dividend payout ratio is -122.85%.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on GILD. Royal Bank Of Canada increased their price objective on Gilead Sciences from $120.00 to $123.00 and gave the company a “sector perform” rating in a report on Wednesday, August 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $155.00 target price on shares of Gilead Sciences in a report on Wednesday, August 5th. Maxim Group upgraded shares of Gilead Sciences from a “hold” rating to a “buy” rating and set a $165.00 price target on the stock in a report on Wednesday, May 20th. Weiss Ratings lowered shares of Gilead Sciences from a “buy (b-)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. Finally, Needham & Company LLC restated a “buy” rating and set a $170.00 price objective on shares of Gilead Sciences in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Gilead Sciences has an average rating of “Moderate Buy” and an average target price of $158.78.
Get Our Latest Stock Report on Gilead Sciences
Gilead Sciences Company Profile
Gilead Sciences, Inc is a biopharmaceutical company that discovers, develops and commercializes medicines for serious and life-threatening diseases. The company’s research focuses primarily on virology, oncology, inflammation and related areas, with products serving patients in the United States and international markets.
Gilead is best known for its HIV treatments, including Biktarvy, Genvoya, Descovy and other antiretroviral therapies. Its portfolio also includes medicines for viral hepatitis, such as Epclusa and Vemlidy, and Veklury (remdesivir), an antiviral treatment for COVID-19.
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