Jacobs Levy Equity Management Inc. Has $59.89 Million Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Jacobs Levy Equity Management Inc. increased its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 27.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 648,386 shares of the biopharmaceutical company's stock after purchasing an additional 140,095 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.05% of Gilead Sciences worth $59,891,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in Gilead Sciences during the 4th quarter worth $1,789,254,000. FMR LLC increased its stake in Gilead Sciences by 21.6% during the 4th quarter. FMR LLC now owns 40,319,432 shares of the biopharmaceutical company's stock worth $3,724,306,000 after acquiring an additional 7,157,113 shares during the period. Pacer Advisors Inc. increased its stake in Gilead Sciences by 723.3% during the 4th quarter. Pacer Advisors Inc. now owns 6,434,665 shares of the biopharmaceutical company's stock worth $594,370,000 after acquiring an additional 5,653,075 shares during the period. Northern Trust Corp increased its stake in Gilead Sciences by 19.7% during the 4th quarter. Northern Trust Corp now owns 14,915,095 shares of the biopharmaceutical company's stock worth $1,377,707,000 after acquiring an additional 2,458,954 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Gilead Sciences during the 4th quarter worth $207,340,000. 83.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Cantor Fitzgerald assumed coverage on Gilead Sciences in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $125.00 price objective on the stock. Oppenheimer decreased their price target on Gilead Sciences from $132.00 to $125.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. The Goldman Sachs Group lifted their price target on Gilead Sciences from $85.00 to $96.00 and gave the company a "neutral" rating in a research note on Wednesday, February 12th. Royal Bank of Canada lifted their price target on Gilead Sciences from $84.00 to $90.00 and gave the company a "sector perform" rating in a research note on Wednesday, February 12th. Finally, Bank of America lifted their price target on Gilead Sciences from $116.00 to $126.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. Nine 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. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $110.55.

Gilead Sciences Trading Up 2.2%

GILD traded up $2.16 during midday trading on Friday, hitting $102.50. 6,395,303 shares of the company were exchanged, compared to its average volume of 7,677,426. The firm has a market capitalization of $127.50 billion, a P/E ratio of 277.03, a P/E/G ratio of 0.71 and a beta of 0.26. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $119.96. The firm's 50 day moving average price is $105.75 and its 200-day moving average price is $99.76. The company has a quick ratio of 1.20, a current ratio of 1.50 and a debt-to-equity ratio of 1.24.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 EPS for the quarter, topping the consensus estimate of $1.77 by $0.04. The firm had revenue of $6.67 billion for the quarter, compared to the consensus estimate of $6.77 billion. Gilead Sciences had a return on equity of 31.63% and a net margin of 1.67%. The business's quarterly revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.32) EPS. As a group, equities analysts forecast 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 will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend is Friday, June 13th. Gilead Sciences's payout ratio is presently 66.53%.

Insiders Place Their Bets

In other news, CFO Andrew D. Dickinson sold 2,500 shares of the business's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $99.82, for a total value of $249,550.00. Following the transaction, the chief financial officer now directly owns 165,674 shares of the company's stock, valued at $16,537,578.68. The trade was a 1.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders have sold 25,429 shares of company stock valued at $2,894,445. 0.27% of the stock is currently owned by company insiders.

About Gilead Sciences

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.