Foundation Resource Management Inc. Boosts Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Foundation Resource Management Inc. grew its stake in Gilead Sciences, Inc. (NASDAQ:GILDGet Rating) by 1.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 178,898 shares of the biopharmaceutical company’s stock after buying an additional 2,083 shares during the period. Gilead Sciences accounts for 2.0% of Foundation Resource Management Inc.’s holdings, making the stock its 22nd biggest position. Foundation Resource Management Inc.’s holdings in Gilead Sciences were worth $11,058,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Landmark Wealth Management LLC purchased a new position in shares of Gilead Sciences during the first quarter worth $30,000. Joseph P. Lucia & Associates LLC purchased a new position in shares of Gilead Sciences during the first quarter worth $25,000. TFO TDC LLC purchased a new position in shares of Gilead Sciences during the first quarter worth $27,000. Cornerstone Advisory LLC purchased a new position in shares of Gilead Sciences during the fourth quarter worth $34,000. Finally, Mystic Asset Management Inc. purchased a new position in shares of Gilead Sciences during the fourth quarter worth $33,000. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Gilead Sciences Price Performance

GILD traded down $0.88 on Friday, reaching $62.89. 238,664 shares of the company’s stock were exchanged, compared to its average volume of 7,683,103. The stock has a market cap of $78.82 billion, a PE ratio of 19.44, a P/E/G ratio of 0.61 and a beta of 0.31. Gilead Sciences, Inc. has a twelve month low of $57.17 and a twelve month high of $74.12. The stock’s fifty day moving average price is $63.22 and its 200-day moving average price is $62.02. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.43 and a quick ratio of 1.27.

Gilead Sciences (NASDAQ:GILDGet Rating) last posted its quarterly earnings results on Tuesday, August 2nd. The biopharmaceutical company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.07. The firm had revenue of $6.26 billion for the quarter, compared to analyst estimates of $5.88 billion. Gilead Sciences had a net margin of 15.03% and a return on equity of 42.92%. Sell-side analysts expect that Gilead Sciences, Inc. will post 6.63 EPS for the current year.

Gilead Sciences Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Thursday, September 15th will be paid a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 4.64%. The ex-dividend date of this dividend is Wednesday, September 14th. Gilead Sciences’s dividend payout ratio (DPR) is presently 89.02%.

Analysts Set New Price Targets

Several analysts recently commented on GILD shares. Morgan Stanley raised their price target on shares of Gilead Sciences from $63.00 to $65.00 and gave the company an “equal weight” rating in a research report on Friday, July 15th. TheStreet upgraded shares of Gilead Sciences from a “c+” rating to a “b-” rating in a research report on Monday, August 15th. Wells Fargo & Company raised their price target on shares of Gilead Sciences from $63.00 to $74.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 13th. Cantor Fitzgerald started coverage on shares of Gilead Sciences in a research report on Tuesday, July 12th. They set a “neutral” rating and a $70.00 price target on the stock. Finally, StockNews.com lowered shares of Gilead Sciences from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 17th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Gilead Sciences has an average rating of “Hold” and an average target price of $73.53.

About Gilead Sciences

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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, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of coronavirus disease 2019; and Epclusa, Harvoni, Vosevi, Vemlidy, and Viread for the treatment of liver diseases.

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Institutional Ownership by Quarter for Gilead Sciences (NASDAQ:GILD)

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