Man Group plc Invests $156.06 Million in Gilead Sciences, Inc. $GILD

Man Group plc acquired a new position in Gilead Sciences, Inc. (NASDAQ:GILD) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,235,196 shares of the biopharmaceutical company’s stock, valued at approximately $156,055,000. Man Group plc owned approximately 0.10% of Gilead Sciences as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in GILD. Paulson Wealth Management Inc. increased its stake in Gilead Sciences by 1.8% in the 4th quarter. Paulson Wealth Management Inc. now owns 3,887 shares of the biopharmaceutical company’s stock worth $477,000 after acquiring an additional 67 shares during the last quarter. Essex Financial Services Inc. raised its holdings in shares of Gilead Sciences by 0.9% in the 4th quarter. Essex Financial Services Inc. now owns 7,724 shares of the biopharmaceutical company’s stock valued at $948,000 after acquiring an additional 71 shares in the last quarter. Davidson Trust Co. boosted its position in shares of Gilead Sciences by 4.1% during the 1st quarter. Davidson Trust Co. now owns 1,879 shares of the biopharmaceutical company’s stock valued at $262,000 after acquiring an additional 74 shares during the last quarter. Alpha Cubed Investments LLC boosted its position in shares of Gilead Sciences by 1.1% during the 4th quarter. Alpha Cubed Investments LLC now owns 6,619 shares of the biopharmaceutical company’s stock valued at $812,000 after acquiring an additional 75 shares during the last quarter. Finally, Financial Connections Group Inc. grew its holdings in shares of Gilead Sciences by 30.2% during the first quarter. Financial Connections Group Inc. now owns 328 shares of the biopharmaceutical company’s stock worth $45,000 after purchasing an additional 76 shares in the last quarter. Institutional investors own 83.67% of the company’s stock.

Analyst Upgrades and Downgrades

GILD has been the topic of several research analyst reports. Needham & Company LLC restated a “buy” rating and issued a $170.00 price objective on shares of Gilead Sciences in a research report on Wednesday, August 5th. Wall Street Zen raised shares of Gilead Sciences from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Truist Financial cut their price target on shares of Gilead Sciences from $157.00 to $156.00 and set a “buy” rating for the company in a research note on Tuesday, July 7th. Rothschild & Co Redburn decreased their price target on shares of Gilead Sciences from $170.00 to $167.00 in a report on Monday, May 11th. Finally, HSBC upgraded shares of Gilead Sciences from a “hold” rating to a “buy” rating and raised their price objective for the company from $133.00 to $155.00 in a research report on Monday, July 6th. Twenty-four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $158.04.

Insider Buying and Selling at Gilead Sciences

In other news, CFO Andrew D. Dickinson sold 3,000 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $138.36, for a total value of $415,080.00. Following the completion of the sale, the chief financial officer owned 165,646 shares of the company’s stock, valued at approximately $22,918,780.56. The trade was a 1.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel Patrick O’day sold 15,000 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $130.31, for a total value of $1,954,650.00. Following the sale, the chief executive officer owned 592,133 shares of the company’s stock, valued at $77,160,851.23. This represents a 2.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 87,000 shares of company stock valued at $11,562,960. Company insiders own 0.30% of the company’s stock.

Gilead Sciences Stock Performance

NASDAQ:GILD opened at $148.77 on Wednesday. The company has a market capitalization of $184.47 billion, a price-to-earnings ratio of -55.72 and a beta of 0.32. The business has a 50 day moving average of $132.85 and a 200 day moving average of $136.59. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.27 and a quick ratio of 1.09. Gilead Sciences, Inc. has a 1-year low of $108.46 and a 1-year high of $157.29.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Monday, August 3rd. The biopharmaceutical company reported ($6.75) EPS for the quarter, topping the consensus estimate of ($7.25) by $0.50. The firm had revenue of $7.80 billion for the quarter, compared to the consensus estimate of $7.40 billion. Gilead Sciences had a negative net margin of 10.64% and a negative return on equity of 2.11%. The business’s revenue was up 10.6% compared to the same quarter last year. During the same period last year, the firm posted $2.01 earnings per share. On average, sell-side analysts predict that Gilead Sciences, Inc. will post -0.5 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be paid a $0.82 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $3.28 annualized dividend and a yield of 2.2%. Gilead Sciences’s payout ratio is currently -122.85%.

Gilead Sciences Company Profile

Gilead Sciences, Inc, founded in 1987 and headquartered in Foster City, California, is a biopharmaceutical company focused on the discovery, development and commercialization of medicines in areas of high unmet medical need. The company initially built its reputation in antiviral therapies and has since expanded into oncology, cell therapy and inflammatory diseases. Gilead operates a global research and commercial organization, conducting clinical development and selling medicines in markets around the world.

Gilead’s product portfolio is anchored by antiviral therapies for HIV and viral hepatitis.