Grimes & Company Inc. lowered its stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 8.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 163,619 shares of the biopharmaceutical company's stock after selling 15,810 shares during the period. Grimes & Company Inc.'s holdings in Gilead Sciences were worth $18,334,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the stock. Bridgewater Associates LP boosted its holdings in Gilead Sciences by 122.7% in the fourth quarter. Bridgewater Associates LP now owns 460,936 shares of the biopharmaceutical company's stock valued at $42,577,000 after purchasing an additional 253,994 shares during the last quarter. Nissay Asset Management Corp Japan ADV lifted its holdings in Gilead Sciences by 5.2% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 284,243 shares of the biopharmaceutical company's stock valued at $26,750,000 after acquiring an additional 14,009 shares during the period. Ontario Teachers Pension Plan Board grew its stake in shares of Gilead Sciences by 54.6% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 37,051 shares of the biopharmaceutical company's stock worth $3,422,000 after purchasing an additional 13,086 shares during the period. Mufg Securities Americas Inc. acquired a new stake in shares of Gilead Sciences during the 4th quarter worth approximately $1,699,000. Finally, Convergence Investment Partners LLC increased its holdings in shares of Gilead Sciences by 15.8% during the 4th quarter. Convergence Investment Partners LLC now owns 68,447 shares of the biopharmaceutical company's stock valued at $6,322,000 after purchasing an additional 9,330 shares in the last quarter. 83.67% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several analysts recently commented on the stock. Bank of America raised their price target on shares of Gilead Sciences from $116.00 to $126.00 and gave the company a "buy" rating in a research report on Wednesday, March 5th. Morgan Stanley raised their target price on Gilead Sciences from $130.00 to $135.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Needham & Company LLC reiterated a "hold" rating on shares of Gilead Sciences in a research report on Wednesday, May 21st. JPMorgan Chase & Co. upped 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 cut their price target on shares of Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Nine research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Gilead Sciences currently has a consensus rating of "Moderate Buy" and a consensus price target of $110.55.
Check Out Our Latest Analysis on GILD
Gilead Sciences Trading Up 0.4%
Shares of GILD stock traded up $0.39 during trading hours on Wednesday, hitting $108.39. The company had a trading volume of 2,135,467 shares, compared to its average volume of 7,716,592. The stock has a market capitalization of $134.83 billion, a PE ratio of 22.82, a price-to-earnings-growth ratio of 0.72 and a beta of 0.29. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.37 and a quick ratio of 1.23. Gilead Sciences, Inc. has a fifty-two week low of $62.69 and a fifty-two week high of $119.96. The company's fifty day moving average is $105.88 and its 200 day moving average is $102.49.
Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate 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 in the previous year, the business earned ($1.32) EPS. The company's quarterly revenue was down .3% compared to the same quarter last year. Research analysts expect that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.
Gilead Sciences Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date of this dividend is Friday, June 13th. Gilead Sciences's dividend payout ratio (DPR) is currently 66.53%.
Insider Buying and Selling
In related news, CEO Daniel Patrick O'day sold 10,000 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $110.42, for a total value of $1,104,200.00. Following the sale, the chief executive officer now owns 620,268 shares of the company's stock, valued at $68,489,992.56. This trade represents a 1.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Andrew D. Dickinson sold 2,500 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $106.40, for a total transaction of $266,000.00. Following the transaction, the chief financial officer now owns 168,174 shares of the company's stock, valued at $17,893,713.60. This trade represents a 1.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 48,500 shares of company stock valued at $5,236,245 in the last ninety days. Company insiders own 0.27% of the company's stock.
About Gilead Sciences
(
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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