Foundation Resource Management Inc. Acquires 4,988 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Foundation Resource Management Inc. raised its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 2.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 196,536 shares of the biopharmaceutical company’s stock after acquiring an additional 4,988 shares during the quarter. Gilead Sciences comprises 2.5% of Foundation Resource Management Inc.’s portfolio, making the stock its 15th largest position. Foundation Resource Management Inc.’s holdings in Gilead Sciences were worth $15,147,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. ST Germain D J Co. Inc. boosted its stake in Gilead Sciences by 15.2% during the 4th quarter. ST Germain D J Co. Inc. now owns 4,246 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 560 shares during the last quarter. Heritage Wealth Management LLC boosted its position in shares of Gilead Sciences by 54.6% during the fourth quarter. Heritage Wealth Management LLC now owns 368 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 130 shares in the last quarter. SJS Investment Consulting Inc. grew its holdings in shares of Gilead Sciences by 187.9% in the 1st quarter. SJS Investment Consulting Inc. now owns 403 shares of the biopharmaceutical company’s stock valued at $33,000 after buying an additional 263 shares during the period. Sanctuary Wealth Management L.L.C. bought a new stake in shares of Gilead Sciences in the 4th quarter valued at $33,000. Finally, Venturi Wealth Management LLC acquired a new stake in Gilead Sciences during the 1st quarter worth $36,000. Institutional investors and hedge funds own 82.33% of the company’s stock.

Gilead Sciences Stock Performance

Shares of NASDAQ GILD traded down $0.13 during midday trading on Tuesday, hitting $75.49. 1,192,159 shares of the company’s stock were exchanged, compared to its average volume of 5,766,764. Gilead Sciences, Inc. has a 12 month low of $61.44 and a 12 month high of $89.74. The company’s 50 day moving average price is $77.28 and its 200 day moving average price is $78.79. The company has a quick ratio of 0.91, a current ratio of 1.02 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $94.06 billion, a PE ratio of 17.38, a price-to-earnings-growth ratio of 0.81 and a beta of 0.37.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported $1.34 EPS for the quarter, missing the consensus estimate of $1.64 by ($0.30). The company had revenue of $6.60 billion during the quarter, compared to analyst estimates of $6.45 billion. Gilead Sciences had a net margin of 20.03% and a return on equity of 37.53%. Gilead Sciences’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.58 earnings per share. As a group, analysts predict that Gilead Sciences, Inc. will post 6.64 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Friday, September 15th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $3.00 annualized dividend and a yield of 3.97%. Gilead Sciences’s dividend payout ratio (DPR) is presently 68.97%.

Insider Transactions at Gilead Sciences

In other Gilead Sciences news, insider Merdad Parsey sold 1,501 shares of the company’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $76.99, for a total value of $115,561.99. Following the transaction, the insider now directly owns 70,130 shares of the company’s stock, valued at approximately $5,399,308.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Andrew D. Dickinson sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $80.00, for a total value of $400,000.00. Following the completion of the sale, the chief financial officer now directly owns 107,587 shares in the company, valued at $8,606,960. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Merdad Parsey sold 1,501 shares of the stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $76.99, for a total value of $115,561.99. Following the sale, the insider now directly owns 70,130 shares in the company, valued at approximately $5,399,308.70. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GILD. Bank of America upgraded Gilead Sciences from a “neutral” rating to a “buy” rating and increased their price target for the stock from $88.00 to $95.00 in a report on Friday, September 8th. HSBC assumed coverage on shares of Gilead Sciences in a research note on Wednesday, September 6th. They issued a “reduce” rating and a $71.00 price target on the stock. StockNews.com started coverage on shares of Gilead Sciences in a report on Thursday, August 17th. They set a “strong-buy” rating on the stock. Barclays reduced their target price on shares of Gilead Sciences from $81.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, July 24th. Finally, BMO Capital Markets cut their price target on Gilead Sciences from $100.00 to $95.00 in a report on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $90.05.

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 viral hepatitis.