Los Angeles Capital Management LLC Acquires 501,105 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Los Angeles Capital Management LLC grew its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 53.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,437,031 shares of the biopharmaceutical company’s stock after buying an additional 501,105 shares during the quarter. Los Angeles Capital Management LLC owned 0.12% of Gilead Sciences worth $116,414,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in GILD. Clearbridge Investments LLC lifted its position in shares of Gilead Sciences by 179.0% in the third quarter. Clearbridge Investments LLC now owns 4,543,985 shares of the biopharmaceutical company’s stock worth $340,526,000 after purchasing an additional 2,915,141 shares in the last quarter. abrdn plc boosted its stake in shares of Gilead Sciences by 89.0% during the 4th quarter. abrdn plc now owns 3,764,107 shares of the biopharmaceutical company’s stock worth $304,930,000 after buying an additional 1,772,887 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Gilead Sciences in the 4th quarter valued at about $133,584,000. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in shares of Gilead Sciences in the fourth quarter valued at about $63,971,000. Finally, Bailard Inc. raised its holdings in Gilead Sciences by 9,100.7% during the third quarter. Bailard Inc. now owns 722,345 shares of the biopharmaceutical company’s stock worth $54,133,000 after acquiring an additional 714,494 shares in the last quarter. Institutional investors own 83.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Barclays lowered their price target on Gilead Sciences from $80.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Monday. Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a research note on Friday, April 26th. HSBC raised shares of Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 price objective for the company in a research report on Wednesday, April 24th. Royal Bank of Canada cut their target price on shares of Gilead Sciences from $76.00 to $74.00 and set a “sector perform” rating for the company in a research note on Friday, April 26th. Finally, UBS Group lowered their price target on Gilead Sciences from $81.00 to $75.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Eleven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $83.69.

Insider Buying and Selling

In other news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $72.96, for a total value of $145,920.00. Following the transaction, the insider now directly owns 96,304 shares of the company’s stock, valued at approximately $7,026,339.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is owned by insiders.

Gilead Sciences Price Performance

Shares of Gilead Sciences stock traded down $0.19 during midday trading on Thursday, hitting $65.32. 2,702,031 shares of the company traded hands, compared to its average volume of 7,418,816. The firm’s fifty day moving average price is $70.87 and its 200-day moving average price is $76.01. The stock has a market cap of $81.33 billion, a price-to-earnings ratio of 180.94, a PEG ratio of 1.31 and a beta of 0.22. Gilead Sciences, Inc. has a 12 month low of $64.63 and a 12 month high of $87.86. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.72 and a current ratio of 0.98.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) EPS for the quarter, beating the consensus estimate of ($1.49) by $0.17. The firm had revenue of $6.69 billion during the quarter, compared to the consensus estimate of $6.36 billion. Gilead Sciences had a return on equity of 24.34% and a net margin of 1.76%. The business’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period last year, the company earned $1.37 earnings per share. As a group, sell-side analysts forecast that Gilead Sciences, Inc. will post 3.74 earnings per share for the current year.

Gilead Sciences Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 4.72%. The ex-dividend date of this dividend is Friday, June 14th. Gilead Sciences’s payout ratio is presently 855.56%.

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.