Gilead Sciences, Inc. (NASDAQ:GILD) Shares Sold by Cohen Klingenstein LLC

Cohen Klingenstein LLC reduced its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 42.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,700 shares of the biopharmaceutical company’s stock after selling 15,000 shares during the period. Cohen Klingenstein LLC’s holdings in Gilead Sciences were worth $1,912,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bellevue Group AG grew its stake in Gilead Sciences by 18.2% in the 3rd quarter. Bellevue Group AG now owns 46,027 shares of the biopharmaceutical company’s stock worth $3,859,000 after acquiring an additional 7,093 shares during the period. Quantinno Capital Management LP grew its position in shares of Gilead Sciences by 149.5% in the third quarter. Quantinno Capital Management LP now owns 81,620 shares of the biopharmaceutical company’s stock valued at $6,843,000 after purchasing an additional 48,910 shares during the period. Legal & General Group Plc increased its stake in Gilead Sciences by 0.8% in the second quarter. Legal & General Group Plc now owns 12,414,268 shares of the biopharmaceutical company’s stock valued at $851,743,000 after purchasing an additional 93,068 shares during the last quarter. IRON Financial LLC purchased a new position in Gilead Sciences during the third quarter worth about $830,000. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Gilead Sciences by 12.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 323,011 shares of the biopharmaceutical company’s stock worth $27,081,000 after buying an additional 36,895 shares during the last quarter. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Gilead Sciences Price Performance

GILD stock opened at $91.84 on Friday. The stock’s 50 day moving average is $91.85 and its two-hundred day moving average is $83.81. Gilead Sciences, Inc. has a 52-week low of $62.07 and a 52-week high of $98.90. The company has a market capitalization of $114.46 billion, a PE ratio of 1,020.44, a P/E/G ratio of 1.27 and a beta of 0.18. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 1.24.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.44. The business 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%. The business’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.29 earnings per share. Analysts predict that Gilead Sciences, Inc. will post 4.36 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were given a dividend of $0.77 per share. The ex-dividend date was Friday, December 13th. This represents a $3.08 annualized dividend and a dividend yield of 3.35%. Gilead Sciences’s payout ratio is 3,422.22%.

Insider Transactions at Gilead Sciences

In related news, insider Merdad Parsey sold 25,590 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the transaction, the insider now directly owns 99,599 shares in the company, valued at $9,113,308.50. This trade represents a 20.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jeffrey Bluestone sold 6,788 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $91.39, for a total transaction of $620,355.32. Following the sale, the director now owns 8,920 shares of the company’s stock, valued at approximately $815,198.80. The trade was a 43.21 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 456,234 shares of company stock valued at $42,130,461. Insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on GILD shares. BMO Capital Markets boosted their target price on shares of Gilead Sciences from $94.00 to $102.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Piper Sandler boosted their price objective on shares of Gilead Sciences from $95.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Bank of America reaffirmed a “buy” rating and issued a $109.00 target price on shares of Gilead Sciences in a research report on Tuesday, December 10th. Leerink Partnrs raised Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 21st. Finally, Daiwa America upgraded Gilead Sciences to a “hold” rating in a report on Monday, November 18th. Eleven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $97.96.

Gilead Sciences Profile

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.