Alberta Investment Management Corp Sells 151,193 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Alberta Investment Management Corp lowered its position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 16.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 750,000 shares of the biopharmaceutical company's stock after selling 151,193 shares during the quarter. Alberta Investment Management Corp owned 0.06% of Gilead Sciences worth $69,278,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp boosted its holdings in Gilead Sciences by 1.4% in the third quarter. State Street Corp now owns 60,171,691 shares of the biopharmaceutical company's stock valued at $5,044,795,000 after acquiring an additional 841,776 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Gilead Sciences by 50.9% in the third quarter. Wellington Management Group LLP now owns 34,600,676 shares of the biopharmaceutical company's stock valued at $2,900,921,000 after acquiring an additional 11,665,593 shares during the last quarter. FMR LLC boosted its holdings in Gilead Sciences by 79.4% in the third quarter. FMR LLC now owns 33,162,319 shares of the biopharmaceutical company's stock valued at $2,780,329,000 after acquiring an additional 14,680,161 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Gilead Sciences by 2.1% in the third quarter. Geode Capital Management LLC now owns 27,540,870 shares of the biopharmaceutical company's stock valued at $2,302,119,000 after acquiring an additional 574,421 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Gilead Sciences by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 7,752,975 shares of the biopharmaceutical company's stock valued at $650,009,000 after acquiring an additional 224,960 shares during the last quarter. Institutional investors and hedge funds own 83.67% of the company's stock.

Insider Activity

In related news, CFO Andrew D. Dickinson sold 248,645 shares of Gilead Sciences stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $92.76, for a total value of $23,064,310.20. Following the completion of the sale, the chief financial officer now owns 138,919 shares of the company's stock, valued at approximately $12,886,126.44. This trade represents a 64.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey Bluestone sold 6,788 shares of Gilead Sciences stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $91.39, for a total value of $620,355.32. Following the completion of the sale, the director now directly owns 8,920 shares of the company's stock, valued at approximately $815,198.80. This trade represents a 43.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 713,000 shares of company stock valued at $67,945,181 in the last ninety days. 0.16% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Maxim Group cut Gilead Sciences from a "buy" rating to a "hold" rating in a report on Friday, November 8th. Mizuho increased their price target on Gilead Sciences from $90.00 to $100.00 and gave the stock an "outperform" rating in a report on Thursday, November 21st. Citigroup assumed coverage on Gilead Sciences in a report on Thursday, November 14th. They set a "buy" rating and a $125.00 price target on the stock. Deutsche Bank Aktiengesellschaft upgraded Gilead Sciences from a "hold" rating to a "buy" rating and increased their price target for the stock from $80.00 to $120.00 in a report on Tuesday. Finally, Wells Fargo & Company increased their price target on Gilead Sciences from $105.00 to $120.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Eleven analysts have rated the stock with a hold rating, fifteen have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, Gilead Sciences presently has a consensus rating of "Moderate Buy" and an average price target of $102.08.

Gilead Sciences Stock Performance

Shares of Gilead Sciences stock traded down $0.08 during trading hours on Friday, hitting $109.95. 9,729,048 shares of the company's stock traded hands, compared to its average volume of 7,379,648. Gilead Sciences, Inc. has a 12-month low of $62.07 and a 12-month high of $111.03. The stock has a market capitalization of $137.03 billion, a price-to-earnings ratio of 297.16, a PEG ratio of 0.71 and a beta of 0.18. The company has a fifty day simple moving average of $95.41 and a 200-day simple moving average of $88.73. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.50 and a quick ratio of 1.20.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced its earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.23. Gilead Sciences had a return on equity of 31.63% and a net margin of 1.67%. Equities research analysts anticipate that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.

Gilead Sciences Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Gilead Sciences's previous quarterly dividend of $0.77. This represents a $3.16 annualized dividend and a dividend yield of 2.87%. Gilead Sciences's dividend payout ratio (DPR) is currently 832.43%.

Gilead Sciences Company 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.