Cigna Investments Inc. New raised its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 6.4% during the 1st quarter, HoldingsChannel.com reports. The firm owned 35,777 shares of the biopharmaceutical company’s stock after acquiring an additional 2,150 shares during the quarter. Cigna Investments Inc. New’s holdings in Gilead Sciences were worth $2,675,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of GILD. Norges Bank purchased a new stake in Gilead Sciences during the 4th quarter valued at $859,602,000. Capital Research Global Investors boosted its stake in Gilead Sciences by 10.9% during the 4th quarter. Capital Research Global Investors now owns 85,132,885 shares of the biopharmaceutical company’s stock valued at $5,531,935,000 after purchasing an additional 8,343,863 shares during the last quarter. Valueworks LLC boosted its stake in Gilead Sciences by 7,777.5% during the 4th quarter. Valueworks LLC now owns 4,919,000 shares of the biopharmaceutical company’s stock valued at $6,146,000 after purchasing an additional 4,856,556 shares during the last quarter. AQR Capital Management LLC boosted its stake in Gilead Sciences by 59.2% during the 4th quarter. AQR Capital Management LLC now owns 7,208,716 shares of the biopharmaceutical company’s stock valued at $464,529,000 after purchasing an additional 2,682,046 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Gilead Sciences by 15.1% during the 4th quarter. Renaissance Technologies LLC now owns 16,962,944 shares of the biopharmaceutical company’s stock valued at $1,102,252,000 after purchasing an additional 2,228,686 shares during the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.
In related news, Director John Francis Cogan sold 2,413 shares of Gilead Sciences stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $67.26, for a total value of $162,298.38. Following the completion of the transaction, the director now owns 57,273 shares in the company, valued at $3,852,181.98. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Brett A. Pletcher sold 13,210 shares of Gilead Sciences stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $79.23, for a total value of $1,046,628.30. Following the completion of the transaction, the executive vice president now owns 27,204 shares of the company’s stock, valued at approximately $2,155,372.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,585 shares of company stock valued at $4,671,283. 0.13% of the stock is currently owned by company insiders.
A number of research firms have recently issued reports on GILD. Maxim Group restated a “hold” rating on shares of Gilead Sciences in a research note on Thursday, April 30th. Barclays began coverage on Gilead Sciences in a research note on Thursday, February 27th. They issued an “underweight” rating and a $62.00 price target on the stock. Piper Sandler restated a “buy” rating and issued a $90.00 price target on shares of Gilead Sciences in a research note on Thursday. SVB Leerink raised their price target on Gilead Sciences from $68.00 to $85.00 and gave the stock a “market perform” rating in a research note on Friday, May 1st. Finally, Morgan Stanley raised their price target on Gilead Sciences from $75.00 to $77.00 and gave the stock an “equal weight” rating in a research note on Friday, May 1st. Seven analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $78.15.
Shares of GILD stock traded down $0.16 during trading hours on Friday, hitting $73.34. The stock had a trading volume of 6,157,451 shares, compared to its average volume of 19,139,120. Gilead Sciences, Inc. has a one year low of $60.89 and a one year high of $85.97. The company has a debt-to-equity ratio of 1.00, a current ratio of 3.04 and a quick ratio of 2.92. The stock’s 50-day moving average price is $77.78 and its two-hundred day moving average price is $70.16. The stock has a market capitalization of $92.20 billion, a price-to-earnings ratio of 18.85, a PEG ratio of 3.14 and a beta of 0.72.
Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.57 by $0.11. Gilead Sciences had a return on equity of 35.44% and a net margin of 21.84%. The firm had revenue of $5.55 billion for the quarter, compared to analysts’ expectations of $5.44 billion. During the same period in the previous year, the firm posted $1.67 earnings per share. The business’s revenue was up 5.1% compared to the same quarter last year. As a group, equities research analysts predict that Gilead Sciences, Inc. will post 6.34 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, June 12th will be given a $0.68 dividend. The ex-dividend date of this dividend is Thursday, June 11th. This represents a $2.72 annualized dividend and a yield of 3.71%. Gilead Sciences’s dividend payout ratio is currently 44.30%.
Gilead Sciences Profile
Gilead Sciences, Inc, a research-based biopharmaceutical company, discovers, develops, and commercializes medicines in the areas of unmet medical needs in the United States, Europe, and internationally. The company's products include Biktarvy, Descovy, Odefsey, Genvoya, Stribild, Complera/Eviplera, Atripla, and Truvada for the treatment of human immunodeficiency virus (HIV) infection in adults; and Vosevi, Vemlidy, Epclusa, Harvoni, and Viread products for treating liver diseases.
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