China Universal Asset Management Co. Ltd. lessened its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 21.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 171,470 shares of the biopharmaceutical company's stock after selling 46,975 shares during the quarter. Gilead Sciences accounts for about 1.8% of China Universal Asset Management Co. Ltd.'s holdings, making the stock its 11th biggest holding. China Universal Asset Management Co. Ltd.'s holdings in Gilead Sciences were worth $19,213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC lifted its position in shares of Gilead Sciences by 20.6% during the fourth quarter. Brighton Jones LLC now owns 14,359 shares of the biopharmaceutical company's stock worth $1,326,000 after purchasing an additional 2,450 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in Gilead Sciences during the 4th quarter worth approximately $339,000. PNC Financial Services Group Inc. boosted its position in Gilead Sciences by 0.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 393,801 shares of the biopharmaceutical company's stock valued at $36,375,000 after buying an additional 3,626 shares during the period. Larson Financial Group LLC grew its stake in shares of Gilead Sciences by 17.5% in the fourth quarter. Larson Financial Group LLC now owns 9,205 shares of the biopharmaceutical company's stock worth $850,000 after acquiring an additional 1,370 shares in the last quarter. Finally, Rialto Wealth Management LLC acquired a new position in shares of Gilead Sciences in the fourth quarter worth $92,000. Hedge funds and other institutional investors own 83.67% of the company's stock.
Insider Buying and Selling at Gilead Sciences
In other news, insider Johanna Mercier sold 3,000 shares of the firm's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $110.17, for a total value of $330,510.00. Following the completion of the transaction, the insider owned 120,168 shares in the company, valued at $13,238,908.56. This trade represents a 2.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Daniel Patrick O'day sold 10,000 shares of the business's stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $110.45, for a total transaction of $1,104,500.00. Following the completion of the sale, the chief executive officer owned 615,725 shares in the company, valued at $68,006,826.25. This represents a 1.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 58,500 shares of company stock valued at $6,340,745. 0.27% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
Several research firms recently commented on GILD. Morgan Stanley boosted their target price on Gilead Sciences from $130.00 to $135.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Cantor Fitzgerald began coverage on Gilead Sciences in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 target price for the company. Needham & Company LLC reissued a "hold" rating on shares of Gilead Sciences in a research note on Wednesday, May 21st. JPMorgan Chase & Co. boosted their target price on Gilead Sciences from $120.00 to $130.00 and gave the stock an "overweight" rating in a research note on Thursday, March 27th. Finally, Oppenheimer dropped their price objective on shares of Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Nine analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Gilead Sciences has an average rating of "Moderate Buy" and a consensus price target of $110.55.
Check Out Our Latest Stock Report on GILD
Gilead Sciences Stock Performance
GILD stock traded up $0.03 on Monday, hitting $111.78. The company's stock had a trading volume of 6,955,665 shares, compared to its average volume of 7,703,268. The stock has a market cap of $139.05 billion, a price-to-earnings ratio of 23.53, a price-to-earnings-growth ratio of 0.72 and a beta of 0.29. The firm has a 50 day moving average of $107.02 and a two-hundred day moving average of $104.11. The company has a current ratio of 1.37, a quick ratio of 1.23 and a debt-to-equity ratio of 1.16. Gilead Sciences, Inc. has a 1 year low of $66.34 and a 1 year high of $119.96.
Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued 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 business had revenue of $6.67 billion for the quarter, compared to the consensus estimate of $6.77 billion. Gilead Sciences had a net margin of 20.76% and a return on equity of 51.93%. The business's quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.32) earnings per share. Equities analysts predict that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.
Gilead Sciences Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were given a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend was Friday, June 13th. Gilead Sciences's payout ratio is 66.53%.
Gilead Sciences Profile
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Free Report)
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.
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