Tidal Investments LLC Raises Position in Gilead Sciences, Inc. $GILD

Tidal Investments LLC raised its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 8.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 545,861 shares of the biopharmaceutical company’s stock after buying an additional 44,021 shares during the quarter. Tidal Investments LLC’s holdings in Gilead Sciences were worth $68,964,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. California State Teachers Retirement System raised its position in shares of Gilead Sciences by 12,498.3% in the 2nd quarter. California State Teachers Retirement System now owns 241,168,657 shares of the biopharmaceutical company’s stock worth $30,469,248,000 after buying an additional 239,254,365 shares during the period. BlackRock Inc. acquired a new position in Gilead Sciences during the second quarter valued at approximately $15,393,785,000. State Street Corp grew its stake in Gilead Sciences by 1.9% during the fourth quarter. State Street Corp now owns 60,240,518 shares of the biopharmaceutical company’s stock worth $7,393,921,000 after buying an additional 1,151,213 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Gilead Sciences by 4.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,698,660 shares of the biopharmaceutical company’s stock valued at $3,399,734,000 after acquiring an additional 1,195,269 shares during the period. Finally, Bank of America Corp DE lifted its holdings in shares of Gilead Sciences by 15.2% during the 4th quarter. Bank of America Corp DE now owns 23,121,620 shares of the biopharmaceutical company’s stock valued at $2,837,948,000 after acquiring an additional 3,046,688 shares in the last quarter. Institutional investors and hedge funds own 83.67% of the company’s stock.

Insiders Place Their Bets

In other Gilead Sciences news, Director Jeffrey Bluestone sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $145.02, for a total transaction of $725,100.00. Following the sale, the director owned 10,066 shares in the company, valued at $1,459,771.32. This represents a 33.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Johanna Mercier sold 28,000 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $137.64, for a total value of $3,853,920.00. Following the transaction, the insider directly owned 118,234 shares in the company, valued at approximately $16,273,727.76. This represents a 19.15% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 105,000 shares of company stock worth $14,495,820. Company insiders own 0.30% of the company’s stock.

Gilead Sciences Stock Performance

Gilead Sciences stock opened at $145.65 on Thursday. Gilead Sciences, Inc. has a 52 week low of $108.46 and a 52 week high of $157.29. The company has a current ratio of 1.27, a quick ratio of 1.09 and a debt-to-equity ratio of 2.03. The stock has a market cap of $180.60 billion, a P/E ratio of -54.55 and a beta of 0.33. The stock has a 50 day moving average of $137.96 and a 200-day moving average of $136.28.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Monday, August 3rd. The biopharmaceutical company reported ($6.75) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($7.25) by $0.50. The business had revenue of $7.80 billion during the quarter, compared to analyst estimates of $7.40 billion. Gilead Sciences had a negative net margin of 10.64% and a negative return on equity of 2.11%. The business’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.01 earnings per share. On average, analysts expect that Gilead Sciences, Inc. will post -0.48 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be given a $0.82 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $3.28 annualized dividend and a dividend yield of 2.3%. Gilead Sciences’s payout ratio is presently -122.85%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $155.00 price objective on shares of Gilead Sciences in a research report on Wednesday, August 5th. Truist Financial lowered their price objective on shares of Gilead Sciences from $157.00 to $156.00 and set a “buy” rating for the company in a research report on Tuesday, July 7th. Morgan Stanley reduced their target price on shares of Gilead Sciences from $166.00 to $165.00 and set an “overweight” rating on the stock in a research report on Monday, July 27th. HSBC raised shares of Gilead Sciences from a “hold” rating to a “buy” rating and raised their price target for the company from $133.00 to $155.00 in a report on Monday, July 6th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $170.00 price objective on shares of Gilead Sciences in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $158.04.

Gilead Sciences Company Profile

Gilead Sciences, Inc is a biopharmaceutical company that discovers, develops and commercializes medicines for serious and life-threatening diseases. The company’s research focuses primarily on virology, oncology, inflammation and related areas, with products serving patients in the United States and international markets.

Gilead is best known for its HIV treatments, including Biktarvy, Genvoya, Descovy and other antiretroviral therapies. Its portfolio also includes medicines for viral hepatitis, such as Epclusa and Vemlidy, and Veklury (remdesivir), an antiviral treatment for COVID-19.