Kornitzer Capital Management Inc. KS reduced its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 1.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 354,514 shares of the biopharmaceutical company's stock after selling 5,189 shares during the period. Gilead Sciences makes up approximately 0.8% of Kornitzer Capital Management Inc. KS's portfolio, making the stock its 29th largest position. Kornitzer Capital Management Inc. KS's holdings in Gilead Sciences were worth $39,723,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the company. FMR LLC increased its holdings in Gilead Sciences by 21.6% in the fourth quarter. FMR LLC now owns 40,319,432 shares of the biopharmaceutical company's stock valued at $3,724,306,000 after buying an additional 7,157,113 shares in the last quarter. Wellington Management Group LLP increased its holdings in 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 valued at $3,293,822,000 after buying an additional 1,058,331 shares in the last quarter. Geode Capital Management LLC increased its holdings 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 buying an additional 749,047 shares in the last quarter. Norges Bank purchased a new position in Gilead Sciences in the fourth quarter valued at about $1,789,254,000. Finally, Northern Trust Corp increased its holdings in Gilead Sciences by 19.7% in the fourth 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 owned by hedge funds and other institutional investors.
Gilead Sciences Stock Down 2.7%
Shares of NASDAQ:GILD traded down $3.03 during midday trading on Tuesday, hitting $109.06. 4,937,556 shares of the company's stock traded hands, compared to its average volume of 7,687,140. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.23 and a current ratio of 1.37. The company has a market cap of $135.66 billion, a PE ratio of 22.96, a P/E/G ratio of 0.72 and a beta of 0.29. The firm's fifty day moving average price is $107.93 and its two-hundred day moving average price is $104.88. Gilead Sciences, Inc. has a twelve month low of $70.33 and a twelve month high of $119.96.
Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $6.67 billion for the quarter, compared to analyst estimates of $6.77 billion. During the same quarter in the previous year, the business posted ($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 EPS for the current fiscal year.
Gilead Sciences Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were given a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 2.90%. The ex-dividend date of this dividend was Friday, June 13th. Gilead Sciences's payout ratio is currently 66.53%.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on GILD. Needham & Company LLC reaffirmed a "hold" rating on shares of Gilead Sciences in a report on Wednesday, May 21st. JPMorgan Chase & Co. increased their target price on shares of Gilead Sciences from $120.00 to $130.00 and gave the company an "overweight" rating in a report on Thursday, March 27th. Oppenheimer dropped 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 initiated 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, Morgan Stanley raised their target price on shares of Gilead Sciences from $130.00 to $135.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Nine analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $111.38.
Check Out Our Latest Research Report on GILD
Insider Activity at Gilead Sciences
In related news, CFO Andrew D. Dickinson sold 2,500 shares of the stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $110.17, for a total transaction of $275,425.00. Following the sale, the chief financial officer owned 165,110 shares in the company, valued at $18,190,168.70. This represents a 1.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Johanna Mercier sold 3,000 shares of the stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $110.17, for a total transaction of $330,510.00. Following the sale, the insider owned 120,168 shares in the company, valued at approximately $13,238,908.56. This trade represents a 2.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 61,000 shares of company stock worth $6,623,445 over the last quarter. 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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