Norden Group LLC Grows Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Norden Group LLC increased its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 1.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 26,104 shares of the biopharmaceutical company’s stock after buying an additional 345 shares during the quarter. Norden Group LLC’s holdings in Gilead Sciences were worth $2,411,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in GILD. FMR LLC grew its stake in Gilead Sciences by 79.4% during the 3rd quarter. FMR LLC now owns 33,162,319 shares of the biopharmaceutical company’s stock worth $2,780,329,000 after buying an additional 14,680,161 shares during the last quarter. Wellington Management Group LLP grew its stake in Gilead Sciences by 50.9% during the 3rd quarter. Wellington Management Group LLP now owns 34,600,676 shares of the biopharmaceutical company’s stock worth $2,900,921,000 after buying an additional 11,665,593 shares during the last quarter. Pacer Advisors Inc. grew its stake in Gilead Sciences by 723.3% during the 4th quarter. Pacer Advisors Inc. now owns 6,434,665 shares of the biopharmaceutical company’s stock worth $594,370,000 after buying an additional 5,653,075 shares during the last quarter. Point72 Asset Management L.P. grew its stake in Gilead Sciences by 350.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 2,305,270 shares of the biopharmaceutical company’s stock worth $193,274,000 after buying an additional 1,793,145 shares during the last quarter. Finally, Jennison Associates LLC purchased a new position in Gilead Sciences during the 4th quarter worth approximately $87,163,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Gilead Sciences Price Performance

GILD stock opened at $114.31 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.20 and a current ratio of 1.50. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $114.77. The firm has a market cap of $142.46 billion, a P/E ratio of 308.95, a price-to-earnings-growth ratio of 0.71 and a beta of 0.18. The stock has a 50-day simple moving average of $97.42 and a 200-day simple moving average of $90.05.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.67 by $0.23. Gilead Sciences had a return on equity of 31.63% and a net margin of 1.67%. On average, equities analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a $0.79 dividend. This is an increase from Gilead Sciences’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.16 annualized dividend and a dividend yield of 2.76%. Gilead Sciences’s dividend payout ratio (DPR) is 854.05%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GILD. BMO Capital Markets lifted their target price on Gilead Sciences from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Robert W. Baird lifted their target price on Gilead Sciences from $80.00 to $95.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. lifted their price target on Gilead Sciences from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Barclays lifted their price target on Gilead Sciences from $84.00 to $95.00 and gave the company an “equal weight” rating in a research note on Thursday, November 7th. Finally, Truist Financial lifted their price target on Gilead Sciences from $83.00 to $97.00 and gave the company a “hold” rating in a research note on Friday, November 8th. Eleven analysts have rated the stock with a hold rating, fifteen have given a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Gilead Sciences currently has an average rating of “Moderate Buy” and an average target price of $102.08.

Insider Buying and Selling

In related news, CFO Andrew D. Dickinson sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $91.35, for a total value of $228,375.00. Following the sale, the chief financial officer now owns 129,873 shares of the company’s stock, valued at approximately $11,863,898.55. This trade represents a 1.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have sold 293,356 shares of company stock valued at $29,166,240. Insiders own 0.16% of the company’s stock.

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, 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.