Ontario Teachers Pension Plan Board trimmed its position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 24.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,130 shares of the biopharmaceutical company's stock after selling 8,921 shares during the period. Ontario Teachers Pension Plan Board's holdings in Gilead Sciences were worth $3,152,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in shares of Gilead Sciences by 20.6% in the 4th quarter. Brighton Jones LLC now owns 14,359 shares of the biopharmaceutical company's stock worth $1,326,000 after purchasing an additional 2,450 shares during the period. Trexquant Investment LP bought a new stake in Gilead Sciences during the 4th quarter valued at $523,000. Rathbones Group PLC increased its holdings in shares of Gilead Sciences by 3.8% in the fourth quarter. Rathbones Group PLC now owns 3,395 shares of the biopharmaceutical company's stock worth $314,000 after purchasing an additional 125 shares during the period. Bank of Nova Scotia increased its holdings in shares of Gilead Sciences by 6.1% in the fourth quarter. Bank of Nova Scotia now owns 773,847 shares of the biopharmaceutical company's stock worth $71,480,000 after purchasing an additional 44,233 shares during the period. Finally, Advisory Services Network LLC increased its holdings in shares of Gilead Sciences by 14.4% in the fourth quarter. Advisory Services Network LLC now owns 71,087 shares of the biopharmaceutical company's stock worth $6,566,000 after purchasing an additional 8,970 shares during the period. 83.67% of the stock is owned by institutional investors.
Insider Activity
In related news, Director Jeffrey Bluestone sold 5,000 shares of the company's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $109.74, for a total value 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 represents a 35.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Daniel Patrick O'day sold 10,000 shares of the company's stock in a transaction on Monday, June 30th. The stock was sold at an average price of $110.45, for a total transaction of $1,104,500.00. Following the completion of the transaction, the chief executive officer directly owned 615,725 shares of the company's stock, valued at $68,006,826.25. This represents a 1.60% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 82,000 shares of company stock worth $8,984,175. 0.27% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
GILD has been the subject of several research reports. Morgan Stanley upped 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. Oppenheimer dropped their target price 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. Cantor Fitzgerald started coverage on shares of Gilead Sciences in a report on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 target price for the company. Royal Bank Of Canada lifted their price objective on Gilead Sciences from $96.00 to $98.00 and gave the company a "sector perform" rating in a research report on Friday. Finally, Needham & Company LLC raised Gilead Sciences from a "hold" rating to a "buy" rating and set a $133.00 price objective on the stock in a research report on Friday, July 25th. Seven research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $114.82.
View Our Latest Stock Analysis on GILD
Gilead Sciences Stock Performance
Shares of GILD stock traded down $0.33 during mid-day trading on Monday, reaching $119.08. 2,730,124 shares of the company's stock traded hands, compared to its average volume of 8,384,469. Gilead Sciences, Inc. has a 12 month low of $72.43 and a 12 month high of $121.38. The firm has a 50 day moving average price of $110.93 and a two-hundred day moving average price of $107.64. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.15 and a current ratio of 1.32. The firm has a market capitalization of $147.76 billion, a PE ratio of 23.68, a price-to-earnings-growth ratio of 0.75 and a beta of 0.33.
Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported $2.01 earnings per share (EPS) 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 firm had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $6.95 billion. During the same quarter in the previous year, the firm posted $2.01 EPS. The company's revenue for the quarter was up 1.4% compared to the same quarter last year. On average, research analysts forecast that Gilead Sciences, Inc. will post 7.95 EPS for the current year.
Gilead Sciences Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be issued a $0.79 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.16 annualized dividend and a yield of 2.7%. Gilead Sciences's dividend payout ratio is currently 62.95%.
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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