Westwood Holdings Group Inc. lessened its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 10.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 236,324 shares of the biopharmaceutical company's stock after selling 28,926 shares during the period. Westwood Holdings Group Inc.'s holdings in Gilead Sciences were worth $21,829,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Bridgewater Associates LP boosted its holdings in shares of Gilead Sciences by 122.7% during the 4th quarter. Bridgewater Associates LP now owns 460,936 shares of the biopharmaceutical company's stock valued at $42,577,000 after buying an additional 253,994 shares in the last quarter. McAdam LLC boosted its stake in Gilead Sciences by 16.7% in the 4th quarter. McAdam LLC now owns 25,372 shares of the biopharmaceutical company's stock worth $2,344,000 after purchasing an additional 3,627 shares in the last quarter. Nissay Asset Management Corp Japan ADV boosted its stake in Gilead Sciences by 5.2% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 284,243 shares of the biopharmaceutical company's stock worth $26,750,000 after purchasing an additional 14,009 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in Gilead Sciences by 3.9% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 142,167 shares of the biopharmaceutical company's stock worth $13,132,000 after purchasing an additional 5,382 shares in the last quarter. Finally, Foster & Motley Inc. boosted its stake in Gilead Sciences by 80.4% in the 4th quarter. Foster & Motley Inc. now owns 10,587 shares of the biopharmaceutical company's stock worth $978,000 after purchasing an additional 4,718 shares in the last quarter. Institutional investors own 83.67% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on GILD. Royal Bank of Canada boosted their target price on Gilead Sciences from $84.00 to $90.00 and gave the stock a "sector perform" rating in a research report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft raised Gilead Sciences from a "hold" rating to a "buy" rating and boosted their target price for the stock from $80.00 to $120.00 in a research report on Tuesday, February 18th. Cantor Fitzgerald started coverage on shares of Gilead Sciences in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 price target for the company. The Goldman Sachs Group upped their price target on shares of Gilead Sciences from $85.00 to $96.00 and gave the company a "neutral" rating in a research report on Wednesday, February 12th. Finally, DZ Bank raised shares of Gilead Sciences from a "hold" rating to a "buy" rating and set a $108.00 price target for the company in a research report on Thursday, February 13th. Nine investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $110.55.
Read Our Latest Research Report on Gilead Sciences
Gilead Sciences Stock Performance
NASDAQ:GILD opened at $106.16 on Tuesday. The stock's fifty day moving average is $105.60 and its 200 day moving average is $99.95. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $119.96. The firm has a market capitalization of $132.06 billion, a PE ratio of 286.92, a PEG ratio of 0.71 and a beta of 0.26. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.20 and a current ratio of 1.50.
Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, topping analysts' consensus estimates of $1.77 by $0.04. Gilead Sciences had a return on equity of 31.63% and a net margin of 1.67%. The business had revenue of $6.67 billion for the quarter, compared to analyst estimates of $6.77 billion. During the same quarter last year, the firm posted ($1.32) earnings per share. The business's revenue was down .3% compared to the same quarter last year. On average, sell-side analysts anticipate that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.
Gilead Sciences Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a $0.79 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $3.16 dividend on an annualized basis and a yield of 2.98%. Gilead Sciences's payout ratio is 66.53%.
Insiders Place Their Bets
In other news, CFO Andrew D. Dickinson sold 2,500 shares of the firm's stock in a transaction on 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 in the company, valued at approximately $16,537,578.68. This trade represents a 1.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold a total of 22,929 shares of company stock worth $2,634,220 over the last quarter. Company insiders own 0.27% of the company's stock.
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.
Further Reading
Want to see what other hedge funds are holding GILD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gilead Sciences, Inc. (NASDAQ:GILD - Free Report).
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