Gilead Sciences, Inc. (NASDAQ:GILD) Shares Bought by M&G Plc

M&G Plc grew its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 59.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 154,717 shares of the biopharmaceutical company’s stock after purchasing an additional 57,709 shares during the period. M&G Plc’s holdings in Gilead Sciences were worth $10,675,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in GILD. Norges Bank acquired a new stake in shares of Gilead Sciences during the 4th quarter worth approximately $1,301,624,000. The Manufacturers Life Insurance Company grew its stake in shares of Gilead Sciences by 78.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 7,632,000 shares of the biopharmaceutical company’s stock worth $618,268,000 after purchasing an additional 3,362,505 shares during the period. Vanguard Group Inc. grew its stake in shares of Gilead Sciences by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 114,732,575 shares of the biopharmaceutical company’s stock worth $8,404,161,000 after purchasing an additional 2,910,147 shares during the period. Wellington Management Group LLP grew its stake in shares of Gilead Sciences by 14.4% during the 4th quarter. Wellington Management Group LLP now owns 18,630,134 shares of the biopharmaceutical company’s stock worth $1,509,227,000 after purchasing an additional 2,350,550 shares during the period. Finally, Swedbank AB acquired a new stake in shares of Gilead Sciences during the 1st quarter worth approximately $134,489,000. Institutional investors and hedge funds own 83.67% of the company’s stock.

Gilead Sciences Stock Up 1.4 %

NASDAQ GILD opened at $73.98 on Wednesday. The firm has a market cap of $92.17 billion, a PE ratio of 205.50, a P/E/G ratio of 3.37 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 business’s fifty day simple moving average is $70.20 and its 200-day simple moving average is $70.30. The company has a quick ratio of 0.94, a current ratio of 1.08 and a debt-to-equity ratio of 1.31.

Gilead Sciences Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a $0.77 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.08 annualized dividend and a yield of 4.16%. Gilead Sciences’s dividend payout ratio (DPR) is currently 855.56%.

Wall Street Analysts Forecast Growth

GILD has been the topic of a number of analyst reports. TD Cowen dropped 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. Evercore ISI raised shares of Gilead Sciences to a “strong-buy” rating in a research note on Friday, August 9th. HSBC raised shares of Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 price target on the stock in a research note on Wednesday, April 24th. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a research note on Friday, April 26th. Finally, Oppenheimer reissued an “outperform” rating and issued a $105.00 price target on shares of Gilead Sciences in a research note on Friday, April 19th. Twelve equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $81.88.

Insider Activity at Gilead Sciences

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

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.