The Manufacturers Life Insurance Company Has $582.74 Million Position in Gilead Sciences, Inc. (NASDAQ:GILD)

The Manufacturers Life Insurance Company reduced its holdings in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 0.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,308,718 shares of the biopharmaceutical company's stock after selling 33,693 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.51% of Gilead Sciences worth $582,736,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in GILD. Nicolet Advisory Services LLC lifted its stake 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 buying an additional 100 shares during the period. Southland Equity Partners LLC grew its holdings in shares of 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 purchasing an additional 110 shares in the last quarter. Berkshire Bank increased its position in shares of Gilead Sciences by 3.4% during the fourth quarter. Berkshire Bank now owns 3,398 shares of the biopharmaceutical company's stock valued at $314,000 after purchasing an additional 111 shares during the period. CFO4Life Group LLC raised its stake in shares of Gilead Sciences by 2.7% in the fourth quarter. CFO4Life Group LLC now owns 4,265 shares of the biopharmaceutical company's stock valued at $394,000 after purchasing an additional 112 shares in the last quarter. Finally, Howe & Rusling Inc. boosted its stake in Gilead Sciences by 2.5% during the fourth quarter. Howe & Rusling Inc. now owns 4,704 shares of the biopharmaceutical company's stock worth $435,000 after buying 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 142,180 shares of the company's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $97.22, for a total value of $13,822,739.60. Following the completion of the sale, the chief financial officer now owns 129,873 shares of the company's stock, valued at approximately $12,626,253.06. This represents a 52.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders sold 302,785 shares of company stock worth $30,540,875. 0.27% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GILD. Bank of America increased their price objective on shares of Gilead Sciences from $116.00 to $126.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. Royal Bank of Canada raised their price target on shares of Gilead Sciences from $84.00 to $90.00 and gave the stock a "sector perform" rating in a research note on Wednesday, February 12th. The Goldman Sachs Group upped their price objective on Gilead Sciences from $85.00 to $96.00 and gave the company a "neutral" rating in a research note on Wednesday, February 12th. DZ Bank raised Gilead Sciences from a "hold" rating to a "buy" rating and set a $108.00 price target on the stock in a research note on Thursday, February 13th. Finally, Piper Sandler upped their price target on Gilead Sciences from $105.00 to $110.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $109.43.

Gilead Sciences Trading Up 2.2 %

Shares of GILD stock traded up $2.33 on Wednesday, reaching $106.54. 9,624,028 shares of the stock were exchanged, compared to its average volume of 7,522,666. The stock has a 50 day moving average price of $109.00 and a 200 day moving average price of $98.58. The stock has a market cap of $132.66 billion, a PE ratio of 287.95, a P/E/G ratio of 0.71 and a beta of 0.32. Gilead Sciences, Inc. has a one year low of $62.07 and a one year high of $119.96. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.50 and a quick ratio of 1.20.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its quarterly 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. Gilead Sciences had a net margin of 1.67% and a return on equity of 31.63%. The company had revenue of $6.67 billion during the quarter, compared to analysts' expectations of $6.77 billion. During the same quarter in the previous year, the company earned ($1.32) EPS. Gilead Sciences's revenue was down .3% on a year-over-year basis. Equities research analysts forecast that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be given a $0.79 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $3.16 annualized dividend and a dividend yield of 2.97%. Gilead Sciences's dividend payout ratio is currently 66.53%.

Gilead Sciences Profile

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.