Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 14.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 211,775 shares of the biopharmaceutical company's stock after acquiring an additional 27,172 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Gilead Sciences were worth $23,729,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in GILD. Smallwood Wealth Investment Management LLC bought a new stake in Gilead Sciences in the first quarter valued at approximately $25,000. Goodman Advisory Group LLC bought a new position in shares of Gilead Sciences in the first quarter worth approximately $29,000. Core Alternative Capital increased its stake in shares of Gilead Sciences by 370.8% in the first quarter. Core Alternative Capital now owns 306 shares of the biopharmaceutical company's stock worth $34,000 after buying an additional 241 shares during the period. IMA Advisory Services Inc. bought a new stake in Gilead Sciences during the 1st quarter valued at $39,000. Finally, Clearstead Trust LLC raised its holdings in Gilead Sciences by 287.6% during the 1st quarter. Clearstead Trust LLC now owns 376 shares of the biopharmaceutical company's stock valued at $42,000 after buying an additional 279 shares during the last quarter. 83.67% of the stock is owned by institutional investors.
Insider Buying and Selling at Gilead Sciences
In other Gilead Sciences news, Director Jeffrey Bluestone sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $109.74, for a total transaction of $548,700.00. Following the completion of the transaction, the director owned 8,920 shares of the company's stock, valued at approximately $978,880.80. This trade represents a 35.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Johanna Mercier sold 28,000 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $107.52, for a total transaction of $3,010,560.00. Following the transaction, the insider directly owned 121,152 shares of the company's stock, valued at $13,026,263.04. This represents a 18.77% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 82,000 shares of company stock worth $8,984,175 over the last three months. Company insiders own 0.27% of the company's stock.
Gilead Sciences Trading Down 0.4%
Shares of NASDAQ GILD traded down $0.45 during midday trading on Tuesday, hitting $120.02. 6,084,059 shares of the company traded hands, compared to its average volume of 6,236,199. The firm has a market cap of $148.92 billion, a P/E ratio of 23.91, a P/E/G ratio of 0.76 and a beta of 0.33. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.15 and a current ratio of 1.32. Gilead Sciences, Inc. has a 12-month low of $72.67 and a 12-month high of $121.83. The stock has a 50-day moving average price of $111.16 and a 200 day moving average price of $107.83.
Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced its earnings results on Thursday, August 7th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, beating analysts' consensus estimates of $1.96 by $0.05. Gilead Sciences had a net margin of 21.86% and a return on equity of 50.99%. The business had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $6.95 billion. During the same quarter last year, the firm earned $2.01 earnings per share. The business's revenue for the quarter was up 1.4% on a year-over-year basis. As a group, analysts expect that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.
Gilead Sciences Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be paid a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.6%. Gilead Sciences's dividend payout ratio (DPR) is currently 62.95%.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on GILD shares. Needham & Company LLC raised shares of Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 price target on the stock in a report on Friday, July 25th. UBS Group upped their price objective on shares of Gilead Sciences from $108.00 to $112.00 and gave the company a "neutral" rating in a research note on Friday. Oppenheimer lowered 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 began coverage on shares of Gilead Sciences in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 price objective for the company. Finally, Royal Bank Of Canada upped their price objective on shares of Gilead Sciences from $96.00 to $98.00 and gave the company a "sector perform" rating in a research note on Friday. Seven equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $114.82.
Check Out Our Latest Research Report on GILD
Gilead Sciences Profile
(
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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