Kendall Capital Management Boosts Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Kendall Capital Management grew its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 102.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,317 shares of the biopharmaceutical company’s stock after buying an additional 3,705 shares during the period. Kendall Capital Management’s holdings in Gilead Sciences were worth $502,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. The Manufacturers Life Insurance Company grew its stake in Gilead Sciences by 78.8% in the fourth 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 Gilead Sciences by 2.6% in the first 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 Gilead Sciences by 14.4% in 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 purchasing an additional 2,350,550 shares during the period. Swedbank AB purchased a new stake in Gilead Sciences in the first quarter worth $134,489,000. Finally, Capital Research Global Investors boosted its holdings in Gilead Sciences by 3.0% in 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 in the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

Gilead Sciences Stock Up 0.0 %

GILD stock opened at $83.90 on Friday. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $87.86. The business’s 50-day moving average is $76.67 and its two-hundred day moving average is $71.18. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.95 and a current ratio of 1.14. The company has a market cap of $104.53 billion, a price-to-earnings ratio of 233.06, a P/E/G ratio of 2.80 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.40. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. The company had revenue of $6.95 billion for the quarter, compared to the consensus estimate of $6.64 billion. As a group, analysts forecast that Gilead Sciences, Inc. will post 3.78 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date is Friday, September 13th. Gilead Sciences’s payout ratio is 855.56%.

Insiders Place Their Bets

In other Gilead Sciences news, insider Johanna Mercier sold 5,490 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total value of $406,150.20. Following the completion of the sale, the insider now owns 114,979 shares in the company, valued at $8,506,146.42. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $68.63, for a total value of $137,260.00. Following the completion of the sale, the insider now owns 96,380 shares in the company, valued at $6,614,559.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Johanna Mercier sold 5,490 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total value of $406,150.20. Following the completion of the sale, the insider now owns 114,979 shares of the company’s stock, valued at approximately $8,506,146.42. The disclosure for this sale can be found here. Insiders sold a total of 36,847 shares of company stock worth $3,002,940 over the last quarter. 0.16% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have commented on GILD shares. Truist Financial boosted their target price on Gilead Sciences from $82.00 to $83.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a report on Thursday, August 15th. BMO Capital Markets boosted their target price on Gilead Sciences from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Piper Sandler reissued an “overweight” rating and issued a $95.00 target price on shares of Gilead Sciences in a report on Wednesday, September 11th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $80.00 target price on shares of Gilead Sciences in a report on Thursday, June 20th. 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 MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $82.06.

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.