Federated Hermes Inc. trimmed its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 9.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,441,601 shares of the biopharmaceutical company's stock after selling 688,145 shares during the period. Gilead Sciences comprises approximately 1.3% of Federated Hermes Inc.'s portfolio, making the stock its 6th largest position. Federated Hermes Inc. owned about 0.52% of Gilead Sciences worth $595,011,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Quantinno Capital Management LP raised its stake in shares of Gilead Sciences by 149.5% during the third quarter. Quantinno Capital Management LP now owns 81,620 shares of the biopharmaceutical company's stock valued at $6,843,000 after acquiring an additional 48,910 shares during the last quarter. McAdam LLC raised its position in Gilead Sciences by 16.7% during the 4th quarter. McAdam LLC now owns 25,372 shares of the biopharmaceutical company's stock valued at $2,344,000 after purchasing an additional 3,627 shares during the last quarter. Capital Investment Advisors LLC lifted its holdings in Gilead Sciences by 2.6% in the 4th quarter. Capital Investment Advisors LLC now owns 387,492 shares of the biopharmaceutical company's stock worth $35,793,000 after buying an additional 9,791 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in shares of Gilead Sciences by 3.9% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 142,167 shares of the biopharmaceutical company's stock worth $13,132,000 after buying an additional 5,382 shares during the last quarter. Finally, Global Financial Private Client LLC increased its stake in shares of Gilead Sciences by 1,222.0% during the fourth quarter. Global Financial Private Client LLC now owns 6,068 shares of the biopharmaceutical company's stock valued at $561,000 after buying an additional 5,609 shares during the period. 83.67% of the stock is owned by institutional investors.
Insider Transactions at Gilead Sciences
In related news, CFO Andrew D. Dickinson sold 142,180 shares of the business's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $97.22, for a total transaction of $13,822,739.60. Following the completion of the sale, the chief financial officer now directly owns 129,873 shares in the company, valued at approximately $12,626,253.06. The trade was a 52.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold 302,785 shares of company stock worth $30,503,250 in the last quarter. Company insiders own 0.16% of the company's stock.
Gilead Sciences Stock Performance
Shares of GILD traded down $3.88 during mid-day trading on Thursday, hitting $101.37. 6,599,872 shares of the company traded hands, compared to its average volume of 7,457,239. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $119.96. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.20 and a current ratio of 1.50. The stock has a 50-day moving average price of $108.17 and a two-hundred day moving average price of $96.52. The stock has a market cap of $126.22 billion, a price-to-earnings ratio of 274.32, a P/E/G ratio of 0.71 and a beta of 0.32.
Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share 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 analysts anticipate that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.
Gilead Sciences Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $0.79 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $3.16 annualized dividend and a dividend yield of 3.12%. This is a positive change from Gilead Sciences's previous quarterly dividend of $0.77. Gilead Sciences's dividend payout ratio is presently 854.05%.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on GILD. 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 research report on Tuesday, March 4th. The Goldman Sachs Group boosted their price target on shares of Gilead Sciences from $85.00 to $96.00 and gave the company a "neutral" rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. raised their price objective on shares of Gilead Sciences from $120.00 to $130.00 and gave the stock an "overweight" rating in a report on Thursday, March 27th. Needham & Company LLC reiterated a "hold" rating on shares of Gilead Sciences in a report on Wednesday, February 12th. Finally, Bank of America raised their target price on Gilead Sciences from $116.00 to $126.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. Eleven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $105.12.
Get Our Latest Stock Analysis on GILD
Gilead Sciences Profile
(
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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