Korea Investment CORP Boosts Holdings in Gilead Sciences, Inc. $GILD

Korea Investment CORP raised its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 9.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,240,334 shares of the biopharmaceutical company’s stock after acquiring an additional 102,232 shares during the period. Korea Investment CORP owned approximately 0.10% of Gilead Sciences worth $138,979,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Smallwood Wealth Investment Management LLC bought a new position in shares of Gilead Sciences during the 1st quarter valued at approximately $25,000. Goodman Advisory Group LLC bought a new position in shares of Gilead Sciences during the 1st quarter valued at approximately $29,000. Core Alternative Capital increased its position in shares of Gilead Sciences by 370.8% during the 1st quarter. Core Alternative Capital now owns 306 shares of the biopharmaceutical company’s stock valued at $34,000 after purchasing an additional 241 shares during the last quarter. IMA Advisory Services Inc. bought a new position in shares of Gilead Sciences during the 1st quarter valued at approximately $39,000. Finally, Financial Network Wealth Advisors LLC increased its position in shares of Gilead Sciences by 538.6% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 364 shares of the biopharmaceutical company’s stock valued at $41,000 after purchasing an additional 307 shares during the last quarter. 83.67% of the stock is currently owned by institutional investors.

Gilead Sciences Trading Down 0.5%

Shares of NASDAQ:GILD opened at $118.37 on Monday. The business’s 50-day moving average is $111.88 and its 200 day moving average is $108.50. Gilead Sciences, Inc. has a 1 year low of $72.89 and a 1 year high of $121.83. The firm has a market capitalization of $146.87 billion, a P/E ratio of 23.58, a P/E/G ratio of 0.73 and a beta of 0.33. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.32 and a quick ratio of 1.15.

Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Thursday, August 7th. The biopharmaceutical company reported $2.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.05. Gilead Sciences had a return on equity of 50.99% and a net margin of 21.86%. The company had revenue of $7.08 billion for the quarter, compared to analyst estimates of $6.95 billion. During the same period in the prior year, the company posted $2.01 EPS. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. On average, research analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be issued a $0.79 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.7%. Gilead Sciences’s dividend payout ratio is currently 62.95%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on GILD shares. Oppenheimer cut their target price on Gilead Sciences from $132.00 to $125.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. Truist Financial upgraded Gilead Sciences from a “hold” rating to a “buy” rating and upped their target price for the stock from $108.00 to $127.00 in a report on Friday, August 8th. Morgan Stanley upped their target price on Gilead Sciences from $130.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, April 25th. Cantor Fitzgerald assumed coverage on Gilead Sciences in a report on Tuesday, April 22nd. They issued an “overweight” rating and a $125.00 target price for the company. Finally, Needham & Company LLC upgraded Gilead Sciences from a “hold” rating to a “buy” rating and set a $133.00 target price for the company in a report on Friday, July 25th. Seven investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Gilead Sciences presently has an average rating of “Moderate Buy” and an average target price of $114.82.

Insider Transactions at Gilead Sciences

In other news, CFO Andrew D. Dickinson sold 2,500 shares of the stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $111.03, for a total value of $277,575.00. Following the transaction, the chief financial officer directly owned 162,610 shares of the company’s stock, valued at approximately $18,054,588.30. This represents a 1.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey Bluestone sold 5,000 shares of the stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $109.74, for a total value of $548,700.00. Following the completion of the transaction, the director directly owned 8,920 shares in the company, valued at $978,880.80. This represents a 35.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 79,500 shares of company stock valued at $8,734,625 over the last three months. Company insiders own 0.27% of the company’s stock.

Gilead Sciences 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.