Payden & Rygel Investment Group Takes Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Payden & Rygel Investment Group purchased a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,680 shares of the biopharmaceutical company’s stock, valued at approximately $196,000.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. increased its position in Gilead Sciences by 2.6% during the first quarter. Vanguard Group Inc. now owns 114,732,575 shares of the biopharmaceutical company’s stock worth $8,404,161,000 after acquiring an additional 2,910,147 shares during the period. Capital World Investors increased its position in Gilead Sciences by 2.0% during the fourth quarter. Capital World Investors now owns 83,364,123 shares of the biopharmaceutical company’s stock worth $6,753,350,000 after acquiring an additional 1,642,736 shares during the period. Capital Research Global Investors increased its position in Gilead Sciences by 3.0% during the fourth 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. Wellington Management Group LLP increased its position in Gilead Sciences by 14.4% during the fourth 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. Finally, Norges Bank bought a new position in Gilead Sciences during the fourth quarter worth about $1,301,624,000. 83.67% of the stock is owned by institutional investors.

Gilead Sciences Trading Up 4.1 %

NASDAQ GILD traded up $3.01 during trading hours on Thursday, reaching $76.51. The company’s stock had a trading volume of 11,731,208 shares, compared to its average volume of 7,466,100. The firm has a fifty day simple moving average of $67.61 and a 200-day simple moving average of $71.23. The stock has a market cap of $95.32 billion, a P/E ratio of 212.53, a P/E/G ratio of 3.04 and a beta of 0.18. Gilead Sciences, Inc. has a 52 week low of $62.07 and a 52 week high of $87.86. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.08 and a quick ratio of 0.94.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.49) by $0.17. The business had revenue of $6.69 billion during the quarter, compared to analyst estimates of $6.36 billion. Gilead Sciences had a net margin of 1.76% and a return on equity of 24.34%. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the business earned $1.37 EPS. Equities analysts forecast that Gilead Sciences, Inc. will post 3.72 earnings per share for the current fiscal year.

Insider Activity at Gilead Sciences

In related news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $68.63, for a total value of $137,260.00. Following the completion of the transaction, the insider now owns 96,380 shares in the company, valued at approximately $6,614,559.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.16% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Cantor Fitzgerald lowered their price target on shares of Gilead Sciences from $75.00 to $70.00 and set a “neutral” rating on the stock in a research report on Monday. StockNews.com upgraded shares of Gilead Sciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 27th. TD Cowen reduced their price objective on shares of Gilead Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. HSBC upgraded shares of Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 price objective on the stock in a research note on Wednesday, April 24th. Finally, Oppenheimer reiterated an “outperform” rating and set a $105.00 price objective on shares of Gilead Sciences in a research note on Friday, April 19th. Twelve research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $81.81.

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.