State Street Corp Grows Stake in Gilead Sciences, Inc. $GILD

State Street Corp grew its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 2.3% in the 2nd quarter, Holdings Channel.com reports. The fund owned 61,216,552 shares of the biopharmaceutical company’s stock after acquiring an additional 1,357,967 shares during the period. State Street Corp’s holdings in Gilead Sciences were worth $7,734,099,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Security National Bank of Sioux City Iowa IA purchased a new stake in shares of Gilead Sciences during the second quarter valued at approximately $63,000. Anchor Investment Management LLC raised its holdings in Gilead Sciences by 843.7% in the 2nd quarter. Anchor Investment Management LLC now owns 2,831 shares of the biopharmaceutical company’s stock worth $358,000 after acquiring an additional 2,531 shares during the last quarter. Bullseye Investment Management LLC bought a new position in Gilead Sciences in the 2nd quarter valued at approximately $2,085,000. Talon Private Wealth LLC purchased a new stake in Gilead Sciences during the 2nd quarter valued at $212,000. Finally, Core Capital Management & Research inc. purchased a new stake in Gilead Sciences during the 2nd quarter valued at $40,000. Institutional investors own 83.67% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Needham & Company LLC restated a “buy” rating and issued a $170.00 price target on shares of Gilead Sciences in a research note on Wednesday, August 5th. Weiss Ratings raised Gilead Sciences from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, September 14th. HSBC upped their target price on shares of Gilead Sciences from $155.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, September 10th. Zacks Research upgraded shares of Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 31st. Finally, Wall Street Zen raised shares of Gilead Sciences from a “hold” rating to a “buy” rating in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Gilead Sciences currently has an average rating of “Moderate Buy” and a consensus price target of $158.78.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, Director Anthony Welters sold 18,000 shares of the stock in a transaction 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 completion of the sale, the director owned 12,894 shares in the company, valued at approximately $1,916,306.28. This represents a 58.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Johanna Mercier sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $144.22, for a total value of $432,660.00. Following the sale, the insider directly owned 116,684 shares in the company, valued at approximately $16,828,166.48. This represents a 2.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 105,000 shares of company stock worth $14,616,390 in the last 90 days. Insiders own 0.30% of the company’s stock.

Gilead Sciences Stock Performance

GILD traded up $1.97 during trading on Tuesday, hitting $152.53. The company’s stock had a trading volume of 1,473,908 shares, compared to its average volume of 6,927,831. The business’s 50 day simple moving average is $140.37 and its 200-day simple moving average is $136.24. The firm has a market cap of $189.13 billion, a PE ratio of -57.16 and a beta of 0.33. Gilead Sciences, Inc. has a one year low of $108.46 and a one year high of $157.29. The company has a quick ratio of 1.09, a current ratio of 1.27 and a debt-to-equity ratio of 2.03.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Monday, August 3rd. The biopharmaceutical company reported ($6.75) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($7.25) by $0.50. The firm had revenue of $7.80 billion during the quarter, compared to the consensus estimate of $7.40 billion. Gilead Sciences had a negative net margin of 10.64% and a negative return on equity of 2.11%. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.01 EPS. As a group, sell-side analysts predict that Gilead Sciences, Inc. will post -0.48 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be given a $0.82 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $3.28 dividend on an annualized basis and a yield of 2.2%. Gilead Sciences’s dividend payout ratio is presently -122.85%.

About Gilead Sciences

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.