Foundation Resource Management Inc. boosted its holdings in Gilead Sciences, Inc. (NASDAQ:GILD – Get Rating) by 1.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 178,898 shares of the biopharmaceutical company’s stock after purchasing an additional 2,083 shares during the quarter. Gilead Sciences comprises 2.0% of Foundation Resource Management Inc.’s investment portfolio, making the stock its 22nd largest holding. Foundation Resource Management Inc.’s holdings in Gilead Sciences were worth $11,058,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Westpac Banking Corp raised its position in Gilead Sciences by 4.4% during the 1st quarter. Westpac Banking Corp now owns 107,818 shares of the biopharmaceutical company’s stock worth $6,410,000 after buying an additional 4,526 shares during the last quarter. Personal CFO Solutions LLC purchased a new position in Gilead Sciences during the 1st quarter worth $391,000. Atria Investments LLC raised its position in Gilead Sciences by 20.9% during the 1st quarter. Atria Investments LLC now owns 90,880 shares of the biopharmaceutical company’s stock worth $5,403,000 after buying an additional 15,694 shares during the last quarter. Sargent Bickham Lagudis LLC raised its position in Gilead Sciences by 12.8% during the 2nd quarter. Sargent Bickham Lagudis LLC now owns 3,036 shares of the biopharmaceutical company’s stock worth $188,000 after buying an additional 344 shares during the last quarter. Finally, Aaron Wealth Advisors LLC purchased a new position in Gilead Sciences during the 1st quarter worth $1,255,000. Hedge funds and other institutional investors own 78.58% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts have commented on GILD shares. Truist Financial upped their price objective on shares of Gilead Sciences from $71.00 to $76.00 and gave the stock a “hold” rating in a research report on Thursday, September 15th. Wells Fargo & Company increased their price target on shares of Gilead Sciences from $63.00 to $74.00 and gave the company an “equal weight” rating in a report on Tuesday, September 13th. TheStreet upgraded shares of Gilead Sciences from a “c+” rating to a “b-” rating in a report on Monday, August 15th. Morgan Stanley increased their price target on shares of Gilead Sciences from $63.00 to $65.00 and gave the company an “equal weight” rating in a report on Friday, July 15th. Finally, SVB Leerink reiterated a “market perform” rating on shares of Gilead Sciences in a report on Thursday, September 15th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Gilead Sciences presently has an average rating of “Hold” and an average price target of $73.53.
Gilead Sciences Price Performance
Gilead Sciences (NASDAQ:GILD – Get Rating) last released its quarterly earnings results on Tuesday, August 2nd. The biopharmaceutical company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.07. Gilead Sciences had a net margin of 15.03% and a return on equity of 42.92%. The company had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $5.88 billion. Analysts forecast that Gilead Sciences, Inc. will post 6.63 EPS for the current year.
Gilead Sciences Dividend Announcement
The company also recently declared 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. The ex-dividend date is Wednesday, September 14th. This represents a $2.92 annualized dividend and a dividend yield of 4.64%. Gilead Sciences’s dividend payout ratio is currently 89.02%.
About Gilead Sciences
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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