Xponance Inc. has enhanced its investment in Gilead Sciences, Inc. (NASDAQ:GILD) by 14.9%, raising its holdings to a total of 221,960 shares, valued at approximately $24.87 million. This increase was detailed in the firm’s latest 13F filing with the U.S. Securities and Exchange Commission, which covered the first quarter of the year. The firm purchased an additional 28,744 shares during this period, reflecting a strategic decision to bolster its position in the biopharmaceutical sector.
A variety of other institutional investors have also adjusted their stakes in Gilead Sciences. For instance, Smallwood Wealth Investment Management LLC acquired a new position valued at about $25,000 during the first quarter. Similarly, Goodman Advisory Group LLC invested approximately $29,000 in the company. Notably, Annis Gardner Whiting Capital Advisors LLC increased its holdings by 158.8%, now owning 352 shares valued at $33,000 after acquiring an additional 216 shares.
Core Alternative Capital also made headlines by raising its position by 370.8%, now holding 306 shares valued at $34,000. As of now, institutional investors and hedge funds own around 83.67% of Gilead Sciences stock.
Gilead Sciences Stock Performance and Dividend Announcement
On the market, Gilead Sciences opened at $114.54 on the latest trading day. The stock has seen a range over the past year, with a low of $68.14 and a high of $119.96. The company’s financial metrics include a current ratio of 1.37, a quick ratio of 1.23, and a debt-to-equity ratio of 1.16. Gilead Sciences has a market capitalization of $142.48 billion, with a price-to-earnings ratio of 24.11 and a beta of 0.29.
In recent corporate developments, Gilead announced a quarterly dividend of $0.79 per share, which was paid on June 27, 2024. Shareholders of record as of June 13, 2024, received this dividend, translating to an annual yield of 2.76%. The company’s dividend payout ratio currently stands at 66.53%.
Insider Trading Activities and Analyst Ratings
In insider trading news, Gilead’s CEO, Daniel Patrick O’Day, sold 10,000 shares on May 30, 2024, at an average price of $110.42, amounting to a total transaction value of $1,104,200. His remaining shares are valued at around $68.49 million, reflecting a 1.59% decrease in his ownership of the stock. Additionally, CFO Andrew D. Dickinson sold 2,500 shares on June 16, 2024, for a total of $275,425, resulting in a 1.49% decrease in his ownership.
Over the past ninety days, insiders have sold a total of 58,500 shares valued at approximately $6.34 million, with insiders holding about 0.27% of the stock.
Investment analysts have had a positive outlook on Gilead Sciences. Recently, Morgan Stanley raised its price target from $130.00 to $135.00, maintaining an “overweight” rating. Other firms, including Needham & Company LLC and Oppenheimer, issued ratings of “hold” and “outperform,” respectively. According to data from MarketBeat, the consensus rating for Gilead Sciences is a “Moderate Buy” with a target price of $111.38.
As Gilead Sciences continues to navigate the evolving biopharmaceutical landscape, the increased investments and positive analyst ratings suggest a sustained confidence in its future prospects, especially as it addresses critical health challenges worldwide.
