Covea Finance bought a new position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm bought 30,500 shares of the biopharmaceutical company's stock, valued at approximately $3,418,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC increased its position in shares of Gilead Sciences by 21.6% during the 4th quarter. FMR LLC now owns 40,319,432 shares of the biopharmaceutical company's stock worth $3,724,306,000 after purchasing an additional 7,157,113 shares during the last quarter. Wellington Management Group LLP increased its stake in 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 purchasing an additional 1,058,331 shares during the period. Geode Capital Management LLC grew its holdings 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 in the last quarter. Norges Bank purchased a new stake in Gilead Sciences during the 4th quarter worth approximately $1,789,254,000. Finally, Northern Trust Corp increased its stake in Gilead Sciences by 19.7% during the 4th quarter. Northern Trust Corp now owns 14,915,095 shares of the biopharmaceutical company's stock worth $1,377,707,000 after buying an additional 2,458,954 shares during the period. Institutional investors and hedge funds own 83.67% of the company's stock.
Insider Activity at Gilead Sciences
In related news, CFO Andrew D. Dickinson sold 2,500 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $99.82, for a total transaction of $249,550.00. Following the transaction, the chief financial officer now owns 165,674 shares of the company's stock, valued at $16,537,578.68. This trade represents a 1.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Johanna Mercier sold 28,000 shares of the business's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $107.52, for a total value of $3,010,560.00. Following the completion of the transaction, the insider now owns 121,152 shares in the company, valued at $13,026,263.04. This trade represents a 18.77% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 48,500 shares of company stock worth $5,236,245 in the last 90 days. 0.27% of the stock is owned by insiders.
Analyst Ratings Changes
Several equities analysts have commented on the stock. 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 note on Friday, April 25th. Bank of America lifted their target price on Gilead Sciences from $116.00 to $126.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. JPMorgan Chase & Co. boosted their price objective on Gilead Sciences from $120.00 to $130.00 and gave the stock an "overweight" rating in a research report on Thursday, March 27th. Cantor Fitzgerald initiated coverage on shares of Gilead Sciences in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 target price on the stock. Finally, Wells Fargo & Company lifted their price target on shares of Gilead Sciences from $120.00 to $140.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 5th. Nine research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, Gilead Sciences presently has an average rating of "Moderate Buy" and an average price target of $110.55.
Read Our Latest Research Report on GILD
Gilead Sciences Stock Performance
Shares of GILD traded up $0.50 during midday trading on Friday, reaching $108.50. 23,266,621 shares of the stock were exchanged, compared to its average volume of 7,661,575. Gilead Sciences, Inc. has a twelve month low of $66.01 and a twelve month high of $119.96. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.37 and a quick ratio of 1.23. The company has a market capitalization of $134.97 billion, a price-to-earnings ratio of 22.84, a PEG ratio of 0.70 and a beta of 0.29. The business's 50-day moving average price is $106.16 and its 200 day moving average price is $102.81.
Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.77 by $0.04. Gilead Sciences had a return on equity of 51.93% and a net margin of 20.76%. The firm had revenue of $6.67 billion for the quarter, compared to the consensus estimate of $6.77 billion. During the same quarter last year, the business posted ($1.32) EPS. The firm's quarterly revenue was down .3% compared to the same quarter last year. On average, sell-side analysts expect that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.
Gilead Sciences Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be issued a $0.79 dividend. The ex-dividend date is Friday, June 13th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.91%. Gilead Sciences's payout ratio is 66.53%.
Gilead Sciences Company 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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