CIBC Asset Management Inc Has $36.84 Million Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

CIBC Asset Management Inc increased its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 5.4% during the third quarter, HoldingsChannel reports. The fund owned 439,370 shares of the biopharmaceutical company’s stock after acquiring an additional 22,624 shares during the quarter. CIBC Asset Management Inc’s holdings in Gilead Sciences were worth $36,837,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in GILD. Swedbank AB bought a new position in shares of Gilead Sciences in the first quarter valued at approximately $134,489,000. International Assets Investment Management LLC boosted its holdings in Gilead Sciences by 8,238.4% during the 3rd quarter. International Assets Investment Management LLC now owns 1,642,504 shares of the biopharmaceutical company’s stock worth $137,708,000 after acquiring an additional 1,622,806 shares during the last quarter. Capital Research Global Investors grew its stake in shares of Gilead Sciences by 2.7% in the 1st quarter. Capital Research Global Investors now owns 61,246,366 shares of the biopharmaceutical company’s stock worth $4,486,296,000 after acquiring an additional 1,589,240 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of Gilead Sciences by 24.7% in the second quarter. Pacer Advisors Inc. now owns 7,889,663 shares of the biopharmaceutical company’s stock valued at $541,310,000 after purchasing an additional 1,564,792 shares during the last quarter. Finally, Deerfield Management Company L.P. Series C bought a new position in shares of Gilead Sciences during the second quarter valued at about $102,298,000. Institutional investors own 83.67% of the company’s stock.

Insider Buying and Selling

In other news, insider Johanna Mercier sold 29,357 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total value of $2,459,529.46. Following the transaction, the insider now owns 78,127 shares of the company’s stock, valued at $6,545,480.06. This represents a 27.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total transaction of $167,660.00. Following the sale, the insider now directly owns 100,189 shares of the company’s stock, valued at $8,398,843.87. This represents a 1.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,947 shares of company stock worth $4,968,674. Corporate insiders own 0.16% of the company’s stock.

Gilead Sciences Stock Down 4.0 %

Shares of NASDAQ GILD opened at $88.40 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.26 and a debt-to-equity ratio of 1.24. The company has a market cap of $110.17 billion, a P/E ratio of 982.22, a P/E/G ratio of 2.85 and a beta of 0.17. Gilead Sciences, Inc. has a 52 week low of $62.07 and a 52 week high of $98.90. The business has a 50-day simple moving average of $86.49 and a two-hundred day simple moving average of $75.81.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.44. The company had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.01 billion. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. Gilead Sciences’s revenue was up 7.0% compared to the same quarter last year. During the same period last year, the business earned $2.29 earnings per share. Research analysts anticipate that Gilead Sciences, Inc. will post 4.39 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be issued a $0.77 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.08 annualized dividend and a dividend yield of 3.48%. Gilead Sciences’s payout ratio is currently 3,422.22%.

Wall Street Analyst Weigh In

Several research firms have commented on GILD. Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a research note on Thursday, November 7th. Robert W. Baird boosted their price objective on Gilead Sciences from $80.00 to $95.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Leerink Partnrs raised Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 21st. The Goldman Sachs Group boosted their price target on shares of Gilead Sciences from $74.00 to $84.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Oppenheimer raised their price objective on shares of Gilead Sciences from $95.00 to $105.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Eleven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, Gilead Sciences presently has an average rating of “Moderate Buy” and a consensus price target of $93.86.

About Gilead Sciences

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.