Handelsbanken Fonder AB lowered its stake in Gilead Sciences, Inc. (NASDAQ:GILD – Free Report) by 7.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 975,089 shares of the biopharmaceutical company’s stock after selling 76,090 shares during the period. Handelsbanken Fonder AB’s holdings in Gilead Sciences were worth $123,193,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of GILD. Vanguard Group Inc. lifted its stake in shares of Gilead Sciences by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 121,097,336 shares of the biopharmaceutical company’s stock valued at $14,863,487,000 after acquiring an additional 2,113,692 shares during the last quarter. State Street Corp grew its position in Gilead Sciences by 1.9% during the 4th quarter. State Street Corp now owns 60,240,518 shares of the biopharmaceutical company’s stock worth $7,393,921,000 after acquiring an additional 1,151,213 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Gilead Sciences by 4.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,698,660 shares of the biopharmaceutical company’s stock worth $3,399,734,000 after acquiring an additional 1,195,269 shares during the last quarter. Bank of America Corp DE increased its holdings in Gilead Sciences by 15.2% in the 4th quarter. Bank of America Corp DE now owns 23,121,620 shares of the biopharmaceutical company’s stock worth $2,837,948,000 after purchasing an additional 3,046,688 shares in the last quarter. Finally, Norges Bank acquired a new position in Gilead Sciences in the 4th quarter worth about $2,617,152,000. Institutional investors own 83.67% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on GILD. Wall Street Zen lowered Gilead Sciences from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Weiss Ratings downgraded Gilead Sciences from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, May 28th. Rothschild & Co Redburn dropped their price objective on shares of Gilead Sciences from $170.00 to $167.00 in a report on Monday, May 11th. Citigroup lifted their target price on shares of Gilead Sciences from $156.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, April 13th. Finally, Truist Financial reduced their target price on shares of Gilead Sciences from $157.00 to $156.00 and set a “buy” rating on the stock in a report on Tuesday, July 7th. Twenty-five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $158.04.
Insiders Place Their Bets
In related news, insider Johanna Mercier sold 3,000 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $123.92, for a total transaction of $371,760.00. Following the sale, the insider owned 124,234 shares in the company, valued at $15,395,077.28. This represents a 2.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Andrew D. Dickinson sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $125.40, for a total value of $376,200.00. Following the sale, the chief financial officer directly owned 171,646 shares of the company’s stock, valued at $21,524,408.40. This represents a 1.72% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 82,000 shares of company stock worth $10,641,790. Company insiders own 0.30% of the company’s stock.
Gilead Sciences Stock Down 0.1%
Gilead Sciences stock opened at $133.06 on Tuesday. The firm has a market cap of $165.20 billion, a price-to-earnings ratio of -49.84 and a beta of 0.32. Gilead Sciences, Inc. has a 52-week low of $108.46 and a 52-week high of $157.29. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.09 and a current ratio of 1.27. The firm has a 50 day moving average price of $129.45 and a two-hundred day moving average price of $136.34.
Gilead Sciences (NASDAQ:GILD – Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The biopharmaceutical company reported ($6.75) EPS for the quarter, beating analysts’ consensus estimates of ($7.25) by $0.50. Gilead Sciences had a negative net margin of 10.64% and a negative return on equity of 2.11%. The company had revenue of $7.80 billion for the quarter, compared to analyst estimates of $7.40 billion. During the same period in the prior year, the firm posted $2.01 EPS. The company’s quarterly revenue was up 10.6% on a year-over-year basis. Equities analysts predict that Gilead Sciences, Inc. will post -0.5 EPS for the current year.
Gilead Sciences Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.82 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $3.28 dividend on an annualized basis and a yield of 2.5%. Gilead Sciences’s dividend payout ratio is -122.85%.
Gilead Sciences Profile
Gilead Sciences, Inc, founded in 1987 and headquartered in Foster City, California, is a biopharmaceutical company focused on the discovery, development and commercialization of medicines in areas of high unmet medical need. The company initially built its reputation in antiviral therapies and has since expanded into oncology, cell therapy and inflammatory diseases. Gilead operates a global research and commercial organization, conducting clinical development and selling medicines in markets around the world.
Gilead’s product portfolio is anchored by antiviral therapies for HIV and viral hepatitis.
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