First Trust Advisors LP Has $333.58 Million Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

First Trust Advisors LP cut its holdings in Gilead Sciences, Inc. (NASDAQ:GILDFree Report) by 8.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,117,728 shares of the biopharmaceutical company’s stock after selling 381,573 shares during the period. First Trust Advisors LP owned about 0.33% of Gilead Sciences worth $333,577,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Norges Bank bought a new stake in Gilead Sciences during the 4th quarter worth about $1,301,624,000. The Manufacturers Life Insurance Company raised its holdings in Gilead Sciences by 78.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 7,632,000 shares of the biopharmaceutical company’s stock worth $618,268,000 after acquiring an additional 3,362,505 shares in the last quarter. Clearbridge Investments LLC boosted its position in Gilead Sciences by 179.0% during the third quarter. Clearbridge Investments LLC now owns 4,543,985 shares of the biopharmaceutical company’s stock valued at $340,526,000 after purchasing an additional 2,915,141 shares during the last quarter. abrdn plc grew its stake in Gilead Sciences by 89.0% in the fourth quarter. abrdn plc now owns 3,764,107 shares of the biopharmaceutical company’s stock valued at $304,930,000 after purchasing an additional 1,772,887 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new position in Gilead Sciences during the fourth quarter worth $133,584,000. Institutional investors own 83.67% of the company’s stock.

Insider Buying and Selling

In other news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $72.96, for a total value of $145,920.00. Following the completion of the transaction, the insider now owns 96,304 shares of the company’s stock, valued at $7,026,339.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on GILD shares. Barclays dropped their target price on shares of Gilead Sciences from $80.00 to $76.00 and set an “equal weight” rating on the stock in a report on Monday, April 29th. Truist Financial cut Gilead Sciences from a “buy” rating to a “hold” rating and cut their price objective for the company from $91.00 to $82.00 in a research report on Thursday, February 22nd. UBS Group decreased their target price on Gilead Sciences from $81.00 to $75.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. Cantor Fitzgerald cut their price target on Gilead Sciences from $80.00 to $78.00 and set a “neutral” rating for the company in a report on Wednesday, February 7th. Finally, HSBC upgraded shares of Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 price objective on the stock in a report on Wednesday, April 24th. Eleven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $83.69.

View Our Latest Analysis on Gilead Sciences

Gilead Sciences Trading Down 0.3 %

Shares of Gilead Sciences stock opened at $63.95 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 1.08 and a debt-to-equity ratio of 1.31. Gilead Sciences, Inc. has a 12-month low of $62.07 and a 12-month high of $87.86. The company has a market capitalization of $79.67 billion, a price-to-earnings ratio of 178.22, a PEG ratio of 1.27 and a beta of 0.20. The firm’s 50-day moving average price is $67.21 and its two-hundred day moving average price is $73.93.

Gilead Sciences (NASDAQ:GILDGet Free Report) last posted its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.49) by $0.17. Gilead Sciences had a net margin of 1.76% and a return on equity of 24.34%. The business had revenue of $6.69 billion for the quarter, compared to analyst estimates of $6.36 billion. During the same quarter last year, the business posted $1.37 EPS. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, analysts forecast that Gilead Sciences, Inc. will post 3.74 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.77 per share. The ex-dividend date is Friday, June 14th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.82%. Gilead Sciences’s dividend payout ratio (DPR) is currently 855.56%.

About Gilead Sciences

(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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Institutional Ownership by Quarter for Gilead Sciences (NASDAQ:GILD)

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