abrdn plc Raises Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

abrdn plc lifted its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 89.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,764,107 shares of the biopharmaceutical company’s stock after buying an additional 1,772,887 shares during the quarter. Gilead Sciences makes up approximately 0.7% of abrdn plc’s investment portfolio, making the stock its 23rd largest position. abrdn plc’s holdings in Gilead Sciences were worth $304,930,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. PCA Investment Advisory Services Inc. purchased a new stake in Gilead Sciences during the 2nd quarter worth approximately $25,000. OFI Invest Asset Management acquired a new stake in Gilead Sciences during the 3rd quarter worth $26,000. Tompkins Financial Corp grew its holdings in shares of Gilead Sciences by 223.1% during the third quarter. Tompkins Financial Corp now owns 349 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 241 shares in the last quarter. Fortitude Family Office LLC acquired a new stake in shares of Gilead Sciences in the fourth quarter valued at about $29,000. Finally, Rakuten Securities Inc. purchased a new position in shares of Gilead Sciences in the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Gilead Sciences Trading Up 0.9 %

NASDAQ GILD traded up $0.60 on Friday, reaching $66.76. The stock had a trading volume of 10,657,002 shares, compared to its average volume of 5,923,117. The company has a quick ratio of 1.27, a current ratio of 1.43 and a debt-to-equity ratio of 1.08. The stock has a fifty day moving average price of $71.96 and a two-hundred day moving average price of $76.53. Gilead Sciences, Inc. has a 12-month low of $65.90 and a 12-month high of $87.86. The firm has a market capitalization of $83.12 billion, a price-to-earnings ratio of 14.84, a P/E/G ratio of 0.91 and a beta of 0.19.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Tuesday, February 6th. The biopharmaceutical company reported $1.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.76 by ($0.04). Gilead Sciences had a net margin of 20.89% and a return on equity of 38.85%. The firm had revenue of $7.12 billion during the quarter, compared to analysts’ expectations of $7.10 billion. During the same quarter in the prior year, the firm posted $1.67 EPS. Gilead Sciences’s quarterly revenue was down 3.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Gilead Sciences, Inc. will post 6.55 EPS for the current fiscal year.

Gilead Sciences Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a $0.77 dividend. This is a positive change from Gilead Sciences’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.08 annualized dividend and a dividend yield of 4.61%. Gilead Sciences’s dividend payout ratio (DPR) is presently 68.44%.

Wall Street Analyst Weigh In

A number of analysts have commented on GILD shares. Wells Fargo & Company cut their price objective on shares of Gilead Sciences from $84.00 to $77.00 and set an “equal weight” rating for the company in a report on Monday, March 4th. Mizuho reduced their price objective on Gilead Sciences from $101.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. Royal Bank of Canada cut their target price on Gilead Sciences from $76.00 to $75.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 14th. Cantor Fitzgerald lowered their price target on shares of Gilead Sciences from $80.00 to $78.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 7th. Finally, Oppenheimer restated an “outperform” rating and set a $105.00 price objective on shares of Gilead Sciences in a research report on Friday. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $84.71.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $72.96, for a total transaction of $145,920.00. Following the sale, the insider now directly owns 96,304 shares in the company, valued at approximately $7,026,339.84. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.16% of the company’s stock.

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.