Veritable L.P. decreased its stake in Gilead Sciences, Inc. (NASDAQ:GILD – Free Report) by 3.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 35,530 shares of the biopharmaceutical company’s stock after selling 1,201 shares during the quarter. Veritable L.P.’s holdings in Gilead Sciences were worth $2,738,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Bank Julius Baer & Co. Ltd Zurich boosted its position in Gilead Sciences by 98,797.6% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 394,005,889 shares of the biopharmaceutical company’s stock worth $30,366,034,000 after acquiring an additional 393,607,491 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of Gilead Sciences by 324.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 18,002,214 shares of the biopharmaceutical company’s stock valued at $1,070,232,000 after acquiring an additional 13,764,169 shares in the last quarter. Norges Bank bought a new position in shares of Gilead Sciences in the 4th quarter valued at approximately $1,115,186,000. Moneta Group Investment Advisors LLC increased its position in Gilead Sciences by 96,759.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 10,111,194 shares of the biopharmaceutical company’s stock worth $868,046,000 after buying an additional 10,100,755 shares during the period. Finally, Renaissance Technologies LLC increased its position in Gilead Sciences by 70.6% in the 1st quarter. Renaissance Technologies LLC now owns 15,492,116 shares of the biopharmaceutical company’s stock worth $921,006,000 after buying an additional 6,410,047 shares during the period. Institutional investors and hedge funds own 82.33% of the company’s stock.
Wall Street Analyst Weigh In
GILD has been the topic of a number of research reports. Morgan Stanley boosted their price objective on Gilead Sciences from $86.00 to $88.00 and gave the company an “equal weight” rating in a research report on Friday, August 4th. Royal Bank of Canada reduced their price objective on Gilead Sciences from $78.00 to $77.00 and set a “sector perform” rating on the stock in a research note on Tuesday. HSBC initiated coverage on Gilead Sciences in a research report on Wednesday, September 6th. They set a “reduce” rating and a $71.00 target price for the company. Bank of America upgraded Gilead Sciences from a “neutral” rating to a “buy” rating and upped their price objective for the company from $88.00 to $95.00 in a report on Friday, September 8th. Finally, Truist Financial reiterated a “buy” rating and issued a $91.00 price objective on shares of Gilead Sciences in a report on Wednesday, September 6th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $88.22.
Insiders Place Their Bets
In other Gilead Sciences news, insider Merdad Parsey sold 1,501 shares of the firm’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $76.99, for a total transaction of $115,561.99. Following the transaction, the insider now owns 70,130 shares in the company, valued at approximately $5,399,308.70. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Gilead Sciences news, insider Merdad Parsey sold 1,501 shares of the firm’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $76.99, for a total value of $115,561.99. Following the sale, the insider now owns 70,130 shares of the company’s stock, valued at approximately $5,399,308.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Andrew D. Dickinson sold 5,000 shares of the firm’s stock in a transaction on Tuesday, October 17th. The shares were sold at an average price of $80.00, for a total value of $400,000.00. Following the completion of the sale, the chief financial officer now directly owns 104,003 shares in the company, valued at approximately $8,320,240. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.
Gilead Sciences Stock Performance
GILD opened at $75.04 on Thursday. Gilead Sciences, Inc. has a 12-month low of $72.87 and a 12-month high of $89.74. The stock has a market cap of $93.50 billion, a price-to-earnings ratio of 16.10, a PEG ratio of 0.85 and a beta of 0.32. The business has a 50 day moving average of $76.82 and a 200-day moving average of $77.36. The company has a quick ratio of 1.20, a current ratio of 1.34 and a debt-to-equity ratio of 1.08.
Gilead Sciences (NASDAQ:GILD – Get Free Report) last announced its earnings results on Tuesday, November 7th. The biopharmaceutical company reported $2.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.38. The company had revenue of $7.05 billion for the quarter, compared to analyst estimates of $6.81 billion. Gilead Sciences had a return on equity of 39.30% and a net margin of 21.45%. The firm’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter last year, the company earned $1.90 earnings per share. On average, equities research analysts expect that Gilead Sciences, Inc. will post 6.76 earnings per share for the current year.
Gilead Sciences Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Friday, December 15th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $3.00 dividend on an annualized basis and a yield of 4.00%. Gilead Sciences’s dividend payout ratio (DPR) is presently 64.38%.
Gilead Sciences Company 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, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of coronavirus disease 2019; and Epclusa, Harvoni, Vosevi, Vemlidy, and Viread for the treatment of viral hepatitis.
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