Private Management Group Inc. Purchases 8,192 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Private Management Group Inc. grew its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 1.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 459,558 shares of the biopharmaceutical company’s stock after acquiring an additional 8,192 shares during the period. Gilead Sciences accounts for 1.2% of Private Management Group Inc.’s portfolio, making the stock its 20th largest holding. Private Management Group Inc.’s holdings in Gilead Sciences were worth $31,530,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its holdings in Gilead Sciences by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 114,732,575 shares of the biopharmaceutical company’s stock worth $8,404,161,000 after acquiring an additional 2,910,147 shares during the last quarter. Capital World Investors lifted its position in shares of Gilead Sciences by 1.4% during the first quarter. Capital World Investors now owns 84,497,404 shares of the biopharmaceutical company’s stock worth $6,189,435,000 after purchasing an additional 1,133,281 shares in the last quarter. Capital Research Global Investors grew its stake in shares of Gilead Sciences by 2.7% during the first 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 last quarter. Wellington Management Group LLP increased its holdings in shares of Gilead Sciences by 14.4% in the fourth 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 in the last quarter. Finally, Norges Bank bought a new position in Gilead Sciences in the 4th quarter worth approximately $1,301,624,000. 83.67% of the stock is owned by institutional investors and hedge funds.

Gilead Sciences Price Performance

GILD opened at $78.72 on Monday. The stock has a market cap of $98.01 billion, a P/E ratio of 218.67, a P/E/G ratio of 2.73 and a beta of 0.18. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $87.86. 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 company has a fifty day simple moving average of $74.06 and a 200 day simple moving average of $70.55.

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

Gilead Sciences Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.08 annualized dividend and a yield of 3.91%. Gilead Sciences’s dividend payout ratio (DPR) is currently 855.56%.

Analyst Ratings Changes

GILD has been the subject of several research reports. Evercore ISI raised Gilead Sciences to a “strong-buy” rating in a research note on Friday, August 9th. Truist Financial lifted their price objective on Gilead Sciences from $82.00 to $83.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a report on Thursday, August 15th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $70.00 target price on shares of Gilead Sciences in a research note on Friday, August 9th. Finally, Royal Bank of Canada lifted their price target on shares of Gilead Sciences from $72.00 to $74.00 and gave the stock a “sector perform” rating in a research report on Wednesday, September 4th. Twelve research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $81.25.

Insider Buying and Selling at Gilead Sciences

In other news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $68.63, for a total transaction of $137,260.00. Following the completion of the sale, the insider now owns 96,380 shares of the company’s stock, valued at $6,614,559.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction dated 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 directly owns 96,380 shares in the company, valued at $6,614,559.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Johanna Mercier sold 5,490 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total value of $406,150.20. Following the transaction, the insider now owns 114,979 shares of the company’s stock, valued at $8,506,146.42. The disclosure for this sale can be found here. Insiders own 0.16% of the company’s stock.

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.