Valley National Advisers Inc. decreased its position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 7.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,290 shares of the biopharmaceutical company's stock after selling 2,803 shares during the period. Gilead Sciences accounts for approximately 0.7% of Valley National Advisers Inc.'s investment portfolio, making the stock its 25th largest position. Valley National Advisers Inc.'s holdings in Gilead Sciences were worth $3,953,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC increased its position in shares of Gilead Sciences by 21.6% during the fourth 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 last quarter. Wellington Management Group LLP increased its holdings in Gilead Sciences by 3.1% in the 4th quarter. Wellington Management Group LLP now owns 35,659,007 shares of the biopharmaceutical company's stock valued at $3,293,822,000 after purchasing an additional 1,058,331 shares during the last quarter. Geode Capital Management LLC raised its position in 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 acquired a new position in Gilead Sciences during the fourth quarter worth $1,789,254,000. Finally, Northern Trust Corp boosted its position 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 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.
Gilead Sciences Stock Performance
NASDAQ:GILD traded down $0.22 during trading hours on Wednesday, reaching $111.51. 5,990,983 shares of the company's stock were exchanged, compared to its average volume of 7,692,113. Gilead Sciences, Inc. has a 1-year low of $66.01 and a 1-year high of $119.96. The company has a quick ratio of 1.23, a current ratio of 1.37 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $138.71 billion, a price-to-earnings ratio of 23.48, a P/E/G ratio of 0.72 and a beta of 0.29. The company has a 50-day moving average of $106.75 and a 200 day moving average of $103.67.
Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.04. The business had revenue of $6.67 billion during 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 prior year, the firm earned ($1.32) earnings per share. Research analysts anticipate that Gilead Sciences, Inc. will post 7.95 EPS for the current year.
Gilead Sciences Announces Dividend
The business also recently declared 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 dividend yield of 2.83%. The ex-dividend date of this dividend was Friday, June 13th. Gilead Sciences's dividend payout ratio is presently 66.53%.
Insider Activity at Gilead Sciences
In related news, insider Johanna Mercier sold 28,000 shares of the firm'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 sale, the insider owned 121,152 shares in the company, valued at $13,026,263.04. This trade represents a 18.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Andrew D. Dickinson sold 2,500 shares of Gilead Sciences stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $110.17, for a total value of $275,425.00. Following the completion of the sale, the chief financial officer directly owned 165,110 shares in the company, valued at $18,190,168.70. This 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 three months. Insiders own 0.27% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on the stock. Cantor Fitzgerald assumed coverage on shares of Gilead Sciences in a report on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 target price on the stock. Oppenheimer decreased their target price on Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating for the company in a report on Friday, April 25th. JPMorgan Chase & Co. upped their price target on Gilead Sciences from $120.00 to $130.00 and gave the stock an "overweight" rating in a report on Thursday, March 27th. Wells Fargo & Company lifted their price objective on Gilead Sciences from $120.00 to $140.00 and gave the company an "overweight" rating in a research note on Wednesday, March 5th. Finally, Bank of America boosted their price objective on Gilead Sciences from $116.00 to $126.00 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. Nine research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $110.55.
Read Our Latest Analysis on Gilead Sciences
Gilead Sciences Company 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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