Sprucegrove Investment Management Ltd. Has $18.54 Million Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Sprucegrove Investment Management Ltd. raised its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 16.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 270,266 shares of the biopharmaceutical company’s stock after buying an additional 38,700 shares during the quarter. Gilead Sciences comprises 1.0% of Sprucegrove Investment Management Ltd.’s portfolio, making the stock its 21st biggest position. Sprucegrove Investment Management Ltd.’s holdings in Gilead Sciences were worth $18,543,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Gilead Sciences by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 114,732,575 shares of the biopharmaceutical company’s stock valued at $8,404,161,000 after purchasing an additional 2,910,147 shares during the period. Capital World Investors grew its position in shares of Gilead Sciences by 1.4% in the 1st quarter. Capital World Investors now owns 84,497,404 shares of the biopharmaceutical company’s stock valued at $6,189,435,000 after purchasing an additional 1,133,281 shares during the period. Capital Research Global Investors grew its position in shares of Gilead Sciences by 2.7% in the 1st quarter. Capital Research Global Investors now owns 61,246,366 shares of the biopharmaceutical company’s stock valued at $4,486,296,000 after purchasing an additional 1,589,240 shares during the period. Wellington Management Group LLP grew its position in shares of Gilead Sciences by 14.4% in the 4th quarter. Wellington Management Group LLP now owns 18,630,134 shares of the biopharmaceutical company’s stock valued at $1,509,227,000 after purchasing an additional 2,350,550 shares during the period. Finally, Parnassus Investments LLC grew its position in shares of Gilead Sciences by 0.3% in the 4th quarter. Parnassus Investments LLC now owns 11,952,057 shares of the biopharmaceutical company’s stock valued at $968,236,000 after purchasing an additional 36,686 shares during the period. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Gilead Sciences Trading Up 0.0 %

Shares of Gilead Sciences stock opened at $83.90 on Friday. Gilead Sciences, Inc. has a 12-month low of $62.07 and a 12-month high of $87.86. The stock has a market cap of $104.53 billion, a P/E ratio of 233.06, a P/E/G ratio of 2.80 and a beta of 0.18. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 1.18. The business’s 50 day moving average is $76.67 and its 200-day moving average is $71.18.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly 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 business had revenue of $6.95 billion for the quarter, compared to analysts’ expectations of $6.64 billion. Equities research analysts predict 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. Investors of record on Friday, September 13th will be paid 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 dividend payout ratio (DPR) is presently 855.56%.

Insider Activity at Gilead Sciences

In related news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $68.63, for a total value of $137,260.00. Following the sale, the insider now owns 96,380 shares in the company, valued at approximately $6,614,559.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $68.63, for a total value of $137,260.00. Following 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 legal filing with the SEC, which is accessible through this link. Also, insider Johanna Mercier sold 29,357 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total value of $2,459,529.46. Following the completion of the transaction, the insider now directly owns 78,127 shares in the company, valued at $6,545,480.06. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,847 shares of company stock worth $3,002,940. Company insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on GILD. Robert W. Baird reiterated a “neutral” rating and issued a $80.00 price objective on shares of Gilead Sciences in a research report on Thursday, June 20th. BMO Capital Markets boosted their target price on Gilead Sciences from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Raymond James upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 target price on the stock in a research note on Monday, July 8th. Piper Sandler restated an “overweight” rating and issued a $95.00 target price on shares of Gilead Sciences in a research note on Wednesday, September 11th. Finally, Truist Financial boosted their target price on Gilead Sciences from $82.00 to $83.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Twelve research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.06.

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.