Norden Group LLC Raises Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Norden Group LLC grew its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 240.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,163 shares of the biopharmaceutical company’s stock after purchasing an additional 19,177 shares during the period. Gilead Sciences comprises approximately 0.4% of Norden Group LLC’s investment portfolio, making the stock its 25th largest holding. Norden Group LLC’s holdings in Gilead Sciences were worth $2,200,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Altfest L J & Co. Inc. acquired a new stake in Gilead Sciences in the fourth quarter valued at approximately $210,000. Federated Hermes Inc. raised its position in Gilead Sciences by 4.9% during the fourth quarter. Federated Hermes Inc. now owns 3,787,355 shares of the biopharmaceutical company’s stock worth $306,814,000 after acquiring an additional 175,925 shares during the period. Wetzel Investment Advisors Inc. purchased a new position in Gilead Sciences during the fourth quarter valued at $74,000. Abundance Wealth Counselors purchased a new stake in shares of Gilead Sciences during the third quarter worth about $1,881,000. Finally, HTLF Bank acquired a new position in shares of Gilead Sciences during the 4th quarter worth about $253,000. Institutional investors and hedge funds own 83.67% of the company’s stock.

Gilead Sciences Trading Down 1.1 %

GILD traded down $0.74 on Tuesday, hitting $65.20. The company had a trading volume of 2,852,692 shares, compared to its average volume of 7,423,276. The company’s fifty day moving average price is $71.16 and its 200 day moving average price is $76.17. Gilead Sciences, Inc. has a 1 year low of $64.63 and a 1 year high of $87.86. The company has a current ratio of 0.98, a quick ratio of 0.72 and a debt-to-equity ratio of 1.08. The firm has a market cap of $81.18 billion, a P/E ratio of 181.14, a PEG ratio of 1.29 and a beta of 0.19.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.32) EPS for the quarter, topping the consensus estimate of ($1.49) by $0.17. The firm had revenue of $6.69 billion for the quarter, compared to analyst estimates of $6.36 billion. Gilead Sciences had a net margin of 1.76% and a return on equity of 24.34%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.37 EPS. As a group, equities analysts expect that Gilead Sciences, Inc. will post 3.82 earnings per share for the current year.

Gilead Sciences Announces Dividend

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

Insider Activity at Gilead Sciences

In related news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $72.96, for a total value of $145,920.00. Following the completion of the transaction, the insider now owns 96,304 shares in the company, valued at $7,026,339.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

GILD has been the subject of a number of research analyst reports. Cantor Fitzgerald reduced their target price on Gilead Sciences from $80.00 to $78.00 and set a “neutral” rating for the company in a report on Wednesday, February 7th. Morgan Stanley lowered their target price on shares of Gilead Sciences from $80.00 to $78.00 and set an “equal weight” rating on the stock in a research note on Friday. Mizuho reduced their target price on shares of Gilead Sciences from $101.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. StockNews.com upgraded shares of Gilead Sciences from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research note on Friday. Eleven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $83.60.

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.