Power Corp of Canada Sells 24,961 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Power Corp of Canada trimmed its stake in Gilead Sciences, Inc. (NASDAQ:GILDFree Report) by 34.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 47,267 shares of the biopharmaceutical company’s stock after selling 24,961 shares during the period. Power Corp of Canada’s holdings in Gilead Sciences were worth $3,829,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Capital World Investors increased its position in Gilead Sciences by 2.0% in the 4th quarter. Capital World Investors now owns 83,364,123 shares of the biopharmaceutical company’s stock worth $6,753,350,000 after buying an additional 1,642,736 shares during the period. Capital Research Global Investors increased its position in Gilead Sciences by 3.0% in the 4th quarter. Capital Research Global Investors now owns 59,657,126 shares of the biopharmaceutical company’s stock worth $4,832,824,000 after buying an additional 1,743,418 shares during the period. Morgan Stanley increased its position in Gilead Sciences by 0.9% in the 3rd quarter. Morgan Stanley now owns 16,909,619 shares of the biopharmaceutical company’s stock worth $1,267,207,000 after buying an additional 158,794 shares during the period. Norges Bank bought a new position in Gilead Sciences in the 4th quarter worth approximately $1,301,624,000. Finally, Northern Trust Corp increased its position in Gilead Sciences by 3.5% in the 3rd quarter. Northern Trust Corp now owns 14,922,488 shares of the biopharmaceutical company’s stock worth $1,118,291,000 after buying an additional 504,475 shares during the period. 83.67% of the stock is owned by institutional investors.

Insider Transactions at Gilead Sciences

In related news, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $72.96, for a total value of $145,920.00. Following the completion of the sale, the insider now owns 96,304 shares in the company, valued at $7,026,339.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on GILD. Oppenheimer restated an “outperform” rating and set a $105.00 price objective on shares of Gilead Sciences in a research report on Friday, April 19th. Mizuho lowered their price objective on Gilead Sciences from $101.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. Wells Fargo & Company lowered their price objective on Gilead Sciences from $84.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Monday, March 4th. Truist Financial cut Gilead Sciences from a “buy” rating to a “hold” rating and lowered their price objective for the company from $91.00 to $82.00 in a research report on Thursday, February 22nd. Finally, UBS Group lowered their price objective on Gilead Sciences from $81.00 to $75.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Eleven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $83.69.

Check Out Our Latest Report on Gilead Sciences

Gilead Sciences Price Performance

Gilead Sciences stock traded down $0.36 on Tuesday, reaching $64.89. The company’s stock had a trading volume of 4,647,540 shares, compared to its average volume of 7,271,188. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.94 and a current ratio of 1.08. The company has a market cap of $80.84 billion, a price-to-earnings ratio of 180.25, a PEG ratio of 1.29 and a beta of 0.20. The business’s fifty day moving average price is $66.37 and its 200 day moving average price is $73.54. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $87.86.

Gilead Sciences (NASDAQ:GILDGet Free Report) last posted its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.32) EPS for the quarter, topping analysts’ consensus estimates of ($1.49) by $0.17. The company had revenue of $6.69 billion for the quarter, compared to analyst estimates of $6.36 billion. Gilead Sciences had a return on equity of 24.34% and a net margin of 1.76%. The business’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.37 earnings per share. Equities analysts expect that Gilead Sciences, Inc. will post 3.75 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, June 14th will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.75%. Gilead Sciences’s payout ratio 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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