Cornercap Investment Counsel Inc. reduced its position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 33.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,086 shares of the biopharmaceutical company's stock after selling 11,038 shares during the period. Gilead Sciences comprises about 0.5% of Cornercap Investment Counsel Inc.'s holdings, making the stock its 18th largest position. Cornercap Investment Counsel Inc.'s holdings in Gilead Sciences were worth $1,852,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the stock. TFB Advisors LLC boosted its holdings in Gilead Sciences by 1.2% in the 3rd quarter. TFB Advisors LLC now owns 9,397 shares of the biopharmaceutical company's stock valued at $788,000 after purchasing an additional 116 shares during the period. Sumitomo Life Insurance Co. increased its stake in Gilead Sciences by 0.7% during the third quarter. Sumitomo Life Insurance Co. now owns 17,822 shares of the biopharmaceutical company's stock valued at $1,494,000 after acquiring an additional 117 shares during the period. FDx Advisors Inc. raised its holdings in Gilead Sciences by 2.2% in the 3rd quarter. FDx Advisors Inc. now owns 5,365 shares of the biopharmaceutical company's stock valued at $450,000 after acquiring an additional 117 shares in the last quarter. Sivia Capital Partners LLC lifted its position in shares of Gilead Sciences by 3.9% in the 3rd quarter. Sivia Capital Partners LLC now owns 3,249 shares of the biopharmaceutical company's stock worth $272,000 after acquiring an additional 123 shares during the period. Finally, Roberts Wealth Advisors LLC increased its position in shares of Gilead Sciences by 1.9% during the third quarter. Roberts Wealth Advisors LLC now owns 7,035 shares of the biopharmaceutical company's stock valued at $599,000 after purchasing an additional 130 shares during the period. Institutional investors own 83.67% of the company's stock.
Insider Buying and Selling
In related news, insider Johanna Mercier sold 29,357 shares of the company's stock in a transaction dated 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 in the company, valued at $6,545,480.06. The trade was a 27.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total transaction of $167,660.00. Following the completion of the transaction, the insider now directly owns 100,189 shares of the company's stock, valued at $8,398,843.87. This trade represents a 1.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 56,947 shares of company stock valued at $4,968,674. 0.16% of the stock is owned by company insiders.
Analyst Ratings Changes
GILD has been the topic of a number of analyst reports. Sanford C. Bernstein assumed coverage on Gilead Sciences in a research report on Thursday, October 17th. They issued an "outperform" rating and a $105.00 price target on the stock. Oppenheimer boosted their price objective on shares of Gilead Sciences from $95.00 to $105.00 and gave the stock an "outperform" rating in a research report on Thursday, November 7th. Wells Fargo & Company lifted their target price on Gilead Sciences from $100.00 to $105.00 and gave the company an "overweight" rating in a research report on Thursday, November 7th. Needham & Company LLC reaffirmed a "hold" rating on shares of Gilead Sciences in a research report on Thursday, November 7th. Finally, Barclays boosted their price objective on shares of Gilead Sciences from $84.00 to $95.00 and gave the stock an "equal weight" rating in a research note on Thursday, November 7th. Eleven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat, Gilead Sciences has a consensus rating of "Moderate Buy" and an average price target of $93.86.
Read Our Latest Report on GILD
Gilead Sciences Stock Performance
Shares of GILD traded down $3.71 on Friday, reaching $88.40. 11,352,699 shares of the company's stock traded hands, compared to its average volume of 7,101,981. The stock's 50 day simple moving average is $86.49 and its two-hundred day simple moving average is $75.81. The stock has a market cap of $110.17 billion, a PE ratio of 1,007.67, a PEG 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 company has a current ratio of 1.26, a quick ratio of 0.82 and a debt-to-equity ratio of 1.24.
Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, topping analysts' consensus estimates of $1.58 by $0.44. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The company had revenue of $7.55 billion for the quarter, compared to analysts' expectations of $7.01 billion. During the same period in the previous year, the business posted $2.29 EPS. The business's revenue for the quarter was up 7.0% compared to the same quarter last year. On average, analysts forecast that Gilead Sciences, Inc. will post 4.39 earnings per share for the current fiscal year.
Gilead Sciences Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.77 per share. 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%.
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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