Ameriprise Financial Inc. Has $122.92 Million Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Ameriprise Financial Inc. reduced its holdings in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 29.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,330,553 shares of the biopharmaceutical company's stock after selling 561,251 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.11% of Gilead Sciences worth $122,918,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of GILD. FMR LLC boosted its position in Gilead Sciences by 21.6% during the 4th quarter. FMR LLC now owns 40,319,432 shares of the biopharmaceutical company's stock valued at $3,724,306,000 after purchasing an additional 7,157,113 shares during the period. Wellington Management Group LLP grew its position in shares of Gilead Sciences by 3.1% during the fourth quarter. Wellington Management Group LLP now owns 35,659,007 shares of the biopharmaceutical company's stock worth $3,293,822,000 after acquiring an additional 1,058,331 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Gilead Sciences by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 28,289,917 shares of the biopharmaceutical company's stock worth $2,608,337,000 after acquiring an additional 749,047 shares during the period. Norges Bank bought a new stake in Gilead Sciences in the 4th quarter valued at about $1,789,254,000. Finally, Northern Trust Corp raised its holdings in shares of Gilead Sciences by 19.7% during the fourth quarter. Northern Trust Corp now owns 14,915,095 shares of the biopharmaceutical company's stock valued at $1,377,707,000 after buying an additional 2,458,954 shares during the last quarter. Institutional investors own 83.67% of the company's stock.

Gilead Sciences Stock Down 1.3 %

Shares of Gilead Sciences stock traded down $1.30 during midday trading on Friday, hitting $96.86. The company's stock had a trading volume of 13,140,489 shares, compared to its average volume of 7,595,228. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $119.96. The company has a quick ratio of 1.20, a current ratio of 1.50 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $120.61 billion, a P/E ratio of 261.78, a PEG ratio of 0.71 and a beta of 0.26. The stock has a 50-day simple moving average of $107.23 and a 200-day simple moving average of $99.32.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.04. The company had revenue of $6.67 billion for the quarter, compared to analysts' expectations of $6.77 billion. Gilead Sciences had a return on equity of 31.63% and a net margin of 1.67%. The business's revenue for the quarter was down .3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.32) EPS. As a group, sell-side analysts expect that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a $0.79 dividend. The ex-dividend date is Friday, June 13th. This represents a $3.16 dividend on an annualized basis and a yield of 3.26%. Gilead Sciences's payout ratio is 66.53%.

Analyst Upgrades and Downgrades

GILD has been the subject of a number of analyst reports. Cantor Fitzgerald started coverage on Gilead Sciences in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 price target for the company. Bank of America upped their price objective on shares of Gilead Sciences from $116.00 to $126.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Morgan Stanley boosted their price target on shares of Gilead Sciences from $130.00 to $135.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Deutsche Bank Aktiengesellschaft upgraded shares of Gilead Sciences from a "hold" rating to a "buy" rating and increased their price objective for the company from $80.00 to $120.00 in a report on Tuesday, February 18th. Finally, Piper Sandler boosted their target price on Gilead Sciences from $105.00 to $110.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Nine research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $110.55.

Insider Buying and Selling at Gilead Sciences

In other news, CFO Andrew D. Dickinson sold 137,676 shares of Gilead Sciences stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $102.22, for a total transaction of $14,073,240.72. Following the completion of the sale, the chief financial officer now directly owns 171,223 shares in the company, valued at $17,502,415.06. The trade was a 44.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 160,605 shares of company stock valued at $16,718,136 in the last quarter. Company insiders own 0.27% 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.