Letko Brosseau & Associates Inc. lowered its holdings in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 38.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 598,388 shares of the biopharmaceutical company's stock after selling 377,790 shares during the period. Letko Brosseau & Associates Inc.'s holdings in Gilead Sciences were worth $55,273,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the business. Nicolet Advisory Services LLC grew its holdings in shares of Gilead Sciences by 2.9% in the fourth quarter. Nicolet Advisory Services LLC now owns 3,580 shares of the biopharmaceutical company's stock valued at $322,000 after purchasing an additional 100 shares in the last quarter. Southland Equity Partners LLC grew its holdings in Gilead Sciences by 3.6% during the 4th quarter. Southland Equity Partners LLC now owns 3,128 shares of the biopharmaceutical company's stock worth $289,000 after acquiring an additional 110 shares in the last quarter. Berkshire Bank grew its holdings in Gilead Sciences by 3.4% during the 4th quarter. Berkshire Bank now owns 3,398 shares of the biopharmaceutical company's stock worth $314,000 after acquiring an additional 111 shares in the last quarter. CFO4Life Group LLC grew its holdings in Gilead Sciences by 2.7% during the 4th quarter. CFO4Life Group LLC now owns 4,265 shares of the biopharmaceutical company's stock worth $394,000 after acquiring an additional 112 shares in the last quarter. Finally, Howe & Rusling Inc. grew its holdings in Gilead Sciences by 2.5% during the 4th quarter. Howe & Rusling Inc. now owns 4,704 shares of the biopharmaceutical company's stock worth $435,000 after acquiring an additional 115 shares in the last quarter. Institutional investors and hedge funds own 83.67% of the company's stock.
Insider Activity at Gilead Sciences
In other Gilead Sciences news, CFO Andrew D. Dickinson sold 2,500 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $104.09, for a total transaction of $260,225.00. Following the sale, the chief financial officer now directly owns 169,061 shares of the company's stock, valued at $17,597,559.49. This trade represents a 1.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have sold 25,429 shares of company stock valued at $2,894,445. Insiders own 0.27% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have commented on GILD shares. JPMorgan Chase & Co. boosted their price target on shares of Gilead Sciences from $120.00 to $130.00 and gave the stock an "overweight" rating in a report on Thursday, March 27th. Oppenheimer lowered 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. Royal Bank of Canada upped their target price on shares of Gilead Sciences from $84.00 to $90.00 and gave the company a "sector perform" rating in a report on Wednesday, February 12th. Wells Fargo & Company upped their target price on shares of Gilead Sciences from $120.00 to $140.00 and gave the company an "overweight" rating in a report on Wednesday, March 5th. Finally, Bank of America upped their target price on shares of Gilead Sciences from $116.00 to $126.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. Nine investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $110.55.
Check Out Our Latest Analysis on GILD
Gilead Sciences Price Performance
Shares of GILD traded up $2.16 during trading hours on Friday, reaching $102.50. The company had a trading volume of 6,395,303 shares, compared to its average volume of 7,661,033. The firm has a 50 day simple moving average of $105.75 and a 200-day simple moving average of $99.68. The company has a current ratio of 1.50, a quick ratio of 1.20 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $127.63 billion, a price-to-earnings ratio of 277.03, a PEG ratio of 0.71 and a beta of 0.26. Gilead Sciences, Inc. has a 12-month low of $62.07 and a 12-month high of $119.96.
Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.77 by $0.04. The business had revenue of $6.67 billion during the quarter, compared to the consensus estimate of $6.77 billion. Gilead Sciences had a net margin of 1.67% and a return on equity of 31.63%. The business's revenue was down .3% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.32) EPS. Research analysts expect that Gilead Sciences, Inc. will post 7.95 earnings per share for the current 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 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 3.08%. Gilead Sciences's payout ratio is 66.53%.
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.
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