Canada Pension Plan Investment Board Raises Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Canada Pension Plan Investment Board raised its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 91.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,699,863 shares of the biopharmaceutical company’s stock after acquiring an additional 1,289,420 shares during the period. Canada Pension Plan Investment Board owned approximately 0.22% of Gilead Sciences worth $185,238,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CarsonAllaria Wealth Management Ltd. lifted its position in Gilead Sciences by 198.3% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 238 shares in the last quarter. Palisade Asset Management LLC acquired a new stake in Gilead Sciences during the 1st quarter valued at $29,000. Financial Connections Group Inc. purchased a new stake in Gilead Sciences during the 2nd quarter worth $34,000. Frank Rimerman Advisors LLC purchased a new position in Gilead Sciences in the 4th quarter valued at about $36,000. Finally, Fortis Group Advisors LLC grew its stake in shares of Gilead Sciences by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 492 shares of the biopharmaceutical company’s stock valued at $40,000 after acquiring an additional 246 shares in the last quarter. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Gilead Sciences Stock Up 0.0 %

GILD stock opened at $83.94 on Friday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.95 and a current ratio of 1.14. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $87.86. The company has a market capitalization of $104.58 billion, a price-to-earnings ratio of 233.17, a price-to-earnings-growth ratio of 2.80 and a beta of 0.18. The business’s 50 day moving average price is $76.95 and its two-hundred day moving average price is $71.26.

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

Gilead Sciences Dividend Announcement

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

Insider Activity at Gilead Sciences

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction 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 directly owns 96,380 shares of the company’s stock, valued at approximately $6,614,559.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $68.63, for a total transaction of $137,260.00. Following the transaction, the insider now owns 96,380 shares in the company, valued at $6,614,559.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Johanna Mercier sold 5,490 shares of the business’s stock in a transaction on 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 transaction, the insider now directly owns 114,979 shares of the company’s stock, valued at $8,506,146.42. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,847 shares of company stock valued at $3,002,940. 0.16% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

GILD has been the subject of a number of analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a report on Thursday, August 15th. Piper Sandler reaffirmed an “overweight” rating and issued a $95.00 price target on shares of Gilead Sciences in a report on Wednesday, September 11th. Royal Bank of Canada boosted their target price on shares of Gilead Sciences from $72.00 to $74.00 and gave the stock a “sector perform” rating in a research report on Wednesday, September 4th. Evercore ISI raised Gilead Sciences to a “strong-buy” rating in a research report on Friday, August 9th. Finally, BMO Capital Markets boosted their price objective on Gilead Sciences from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Twelve analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.