CANADA LIFE ASSURANCE Co Trims Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

CANADA LIFE ASSURANCE Co decreased its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 3.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,096,664 shares of the biopharmaceutical company's stock after selling 72,343 shares during the period. CANADA LIFE ASSURANCE Co owned approximately 0.17% of Gilead Sciences worth $193,530,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of GILD. HHM Wealth Advisors LLC raised its position in shares of Gilead Sciences by 118.5% in the 4th quarter. HHM Wealth Advisors LLC now owns 284 shares of the biopharmaceutical company's stock worth $26,000 after acquiring an additional 154 shares in the last quarter. YANKCOM Partnership purchased a new stake in Gilead Sciences in the fourth quarter worth $28,000. Decker Retirement Planning Inc. bought a new position in Gilead Sciences in the fourth quarter worth $29,000. Crews Bank & Trust purchased a new position in Gilead Sciences during the fourth quarter valued at $31,000. Finally, Stephens Consulting LLC boosted its holdings in shares of Gilead Sciences by 325.0% during the 4th quarter. Stephens Consulting LLC now owns 340 shares of the biopharmaceutical company's stock valued at $31,000 after buying an additional 260 shares in the last quarter. Hedge funds and other institutional investors own 83.67% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Piper Sandler upped their price objective on shares of Gilead Sciences from $105.00 to $110.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Wells Fargo & Company increased their target price on Gilead Sciences from $120.00 to $140.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 5th. Royal Bank of Canada boosted their price objective on shares of Gilead Sciences from $84.00 to $90.00 and gave the stock a "sector perform" rating in a report on Wednesday, February 12th. BMO Capital Markets raised their price target on shares of Gilead Sciences from $110.00 to $115.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Finally, Oppenheimer boosted their price objective on shares of Gilead Sciences from $115.00 to $132.00 and gave the company an "outperform" rating in a report on Tuesday, March 4th. Eleven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $105.12.

Gilead Sciences Trading Down 0.4 %

GILD traded down $0.39 on Friday, hitting $104.49. The company had a trading volume of 8,066,368 shares, compared to its average volume of 7,519,796. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $119.96. The firm has a market cap of $130.10 billion, a P/E ratio of 282.40, a PEG ratio of 0.71 and a beta of 0.32. The company's fifty day moving average price is $109.16 and its 200 day moving average price is $97.45. The company has a current ratio of 1.50, a quick ratio of 1.20 and a debt-to-equity ratio of 1.24.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share for the quarter, topping analysts' consensus estimates of $1.67 by $0.23. Gilead Sciences had a net margin of 1.67% and a return on equity of 31.63%. As a group, equities analysts expect that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a $0.79 dividend. This is an increase from Gilead Sciences's previous quarterly dividend of $0.77. This represents a $3.16 annualized dividend and a yield of 3.02%. The ex-dividend date was Friday, March 14th. Gilead Sciences's payout ratio is currently 854.05%.

Insider Activity

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 137,676 shares of the company's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $102.22, for a total transaction of $14,073,240.72. Following the sale, the chief financial officer now owns 171,223 shares in the company, valued at $17,502,415.06. This represents a 44.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders sold 302,785 shares of company stock valued at $30,540,875. 0.27% of the stock is currently owned by company insiders.

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.