CHURCHILL MANAGEMENT Corp Takes Position in Gilead Sciences, Inc. (NASDAQ:GILD)

CHURCHILL MANAGEMENT Corp bought a new position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 43,331 shares of the biopharmaceutical company's stock, valued at approximately $4,855,000.

Several other hedge funds have also recently made changes to their positions in the company. FMR LLC raised its stake in Gilead Sciences by 21.6% in the 4th quarter. FMR LLC now owns 40,319,432 shares of the biopharmaceutical company's stock valued at $3,724,306,000 after acquiring an additional 7,157,113 shares during the period. Wellington Management Group LLP increased its stake in shares of Gilead Sciences by 3.1% in 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 purchasing an additional 1,058,331 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Gilead Sciences by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 28,289,917 shares of the biopharmaceutical company's stock valued at $2,608,337,000 after purchasing an additional 749,047 shares during the period. Norges Bank bought a new stake in shares of Gilead Sciences in the fourth quarter valued at approximately $1,789,254,000. Finally, Northern Trust Corp lifted its stake in shares of Gilead Sciences by 19.7% during the 4th 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 in the last quarter. 83.67% of the stock is currently owned by institutional investors.

Gilead Sciences Price Performance

Shares of GILD stock traded down $0.24 during trading hours on Friday, hitting $111.28. 4,039,811 shares of the company's stock were exchanged, compared to its average volume of 7,692,289. The company has a market capitalization of $138.42 billion, a PE ratio of 23.43, a PEG ratio of 0.72 and a beta of 0.29. 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 12-month low of $66.01 and a 12-month high of $119.96. The business's 50 day simple moving average is $106.85 and its 200-day simple moving average is $103.80.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 EPS for the quarter, topping analysts' consensus estimates of $1.77 by $0.04. Gilead Sciences had a net margin of 20.76% and a return on equity of 51.93%. The company had revenue of $6.67 billion for the quarter, compared to analysts' expectations of $6.77 billion. During the same quarter last year, the company earned ($1.32) EPS. The firm's revenue was down .3% compared to the same quarter last year. On average, equities research analysts anticipate that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend was Friday, June 13th. Gilead Sciences's dividend payout ratio is presently 66.53%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Oppenheimer reduced their price objective on shares of Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Cantor Fitzgerald started coverage on Gilead Sciences in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $125.00 price target for the company. Morgan Stanley increased their price objective on Gilead Sciences from $130.00 to $135.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. JPMorgan Chase & Co. raised 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, Needham & Company LLC reiterated a "hold" rating on shares of Gilead Sciences in a research report on Wednesday, May 21st. 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. Based on data from MarketBeat, Gilead Sciences currently has a consensus rating of "Moderate Buy" and an average target price of $110.55.

Insider Buying and Selling

In related news, CEO Daniel Patrick O'day sold 10,000 shares of the company's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $110.42, for a total transaction of $1,104,200.00. Following the completion of the sale, the chief executive officer directly owned 620,268 shares in the company, valued at $68,489,992.56. This represents a 1.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Andrew D. Dickinson sold 2,500 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 transaction of $275,425.00. Following the completion of the sale, the chief financial officer directly owned 165,110 shares in the company, valued at approximately $18,190,168.70. This trade represents a 1.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 58,500 shares of company stock worth $6,340,745 in the last ninety days. 0.27% of the stock is owned by insiders.

Gilead Sciences Profile

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.