Healthcare of Ontario Pension Plan Trust Fund Makes New $7.85 Million Investment in Gilead Sciences, Inc. (NASDAQ:GILD)

Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 114,377 shares of the biopharmaceutical company’s stock, valued at approximately $7,847,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GILD. CarsonAllaria Wealth Management Ltd. lifted its stake in Gilead Sciences by 198.3% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 238 shares during the last quarter. Palisade Asset Management LLC purchased a new stake in shares of Gilead Sciences during the first quarter worth $29,000. Cedar Wealth Management LLC lifted its position in shares of Gilead Sciences by 51.6% during the second quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 160 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Gilead Sciences during the second quarter worth $33,000. Finally, Financial Connections Group Inc. purchased a new stake in shares of Gilead Sciences during the second quarter worth $34,000. 83.67% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on GILD shares. Raymond James raised shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price target on the stock in a report on Monday, July 8th. Royal Bank of Canada increased their target price on Gilead Sciences from $74.00 to $75.00 and gave the company a “sector perform” rating in a research note on Friday. Cantor Fitzgerald reissued a “neutral” rating and issued a $70.00 target price on shares of Gilead Sciences in a research note on Monday, September 16th. Evercore ISI raised Gilead Sciences to a “strong-buy” rating in a research note on Friday, August 9th. Finally, Piper Sandler reiterated an “overweight” rating and set a $95.00 target price on shares of Gilead Sciences in a report on Wednesday, September 11th. 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $82.12.

Gilead Sciences Price Performance

Shares of GILD opened at $84.59 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 1.18. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $87.86. The company has a market capitalization of $105.39 billion, a P/E ratio of 234.97, a price-to-earnings-growth ratio of 2.91 and a beta of 0.18. The firm has a 50 day moving average of $79.06 and a 200 day moving average of $71.93.

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

Gilead Sciences Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date was Friday, September 13th. Gilead Sciences’s dividend payout ratio (DPR) is 855.56%.

Insider Activity at Gilead Sciences

In related news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total transaction of $167,660.00. Following the transaction, the insider now owns 100,189 shares in the company, valued at approximately $8,398,843.87. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total transaction of $167,660.00. Following the transaction, the insider now owns 100,189 shares in the company, valued at approximately $8,398,843.87. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Johanna Mercier sold 29,357 shares of Gilead Sciences stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the transaction, the insider now owns 78,127 shares in the company, valued at approximately $6,545,480.06. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,847 shares of company stock worth $3,033,340. 0.16% of the stock is owned by corporate insiders.

Gilead Sciences Company 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.