Corebridge Financial Inc. lowered its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 3.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 367,477 shares of the biopharmaceutical company's stock after selling 13,774 shares during the period. Corebridge Financial Inc.'s holdings in Gilead Sciences were worth $33,944,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Southland Equity Partners LLC increased its stake in Gilead Sciences by 3.6% in the 4th quarter. Southland Equity Partners LLC now owns 3,128 shares of the biopharmaceutical company's stock valued at $289,000 after purchasing an additional 110 shares in the last quarter. Berkshire Bank increased its position in shares of Gilead Sciences by 3.4% in the fourth quarter. Berkshire Bank now owns 3,398 shares of the biopharmaceutical company's stock valued at $314,000 after buying an additional 111 shares in the last quarter. CFO4Life Group LLC raised its stake in shares of Gilead Sciences by 2.7% during the 4th quarter. CFO4Life Group LLC now owns 4,265 shares of the biopharmaceutical company's stock worth $394,000 after buying an additional 112 shares during the last quarter. GHP Investment Advisors Inc. raised its stake in shares of Gilead Sciences by 1.1% during the 4th quarter. GHP Investment Advisors Inc. now owns 11,354 shares of the biopharmaceutical company's stock worth $1,049,000 after buying an additional 122 shares during the last quarter. Finally, J.W. Cole Advisors Inc. boosted its position in shares of Gilead Sciences by 1.0% in the 4th quarter. J.W. Cole Advisors Inc. now owns 13,597 shares of the biopharmaceutical company's stock worth $1,256,000 after buying an additional 135 shares in the last quarter. 83.67% of the stock is currently owned by institutional investors and hedge funds.
Gilead Sciences Trading Up 0.6 %
Shares of GILD stock traded up $0.63 during mid-day trading on Friday, reaching $111.79. The company's stock had a trading volume of 7,844,837 shares, compared to its average volume of 7,285,757. The company has a quick ratio of 1.20, a current ratio of 1.50 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $139.22 billion, a PE ratio of 302.14, a price-to-earnings-growth ratio of 0.71 and a beta of 0.21. The company's 50 day simple moving average is $105.48 and its 200-day simple moving average is $94.81. Gilead Sciences, Inc. has a 12-month low of $62.07 and a 12-month high of $119.96.
Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.90 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%. On average, research analysts predict that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.
Gilead Sciences Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a $0.79 dividend. This is an increase from Gilead Sciences's previous quarterly dividend of $0.77. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.16 annualized dividend and a yield of 2.83%. Gilead Sciences's dividend payout ratio (DPR) is 854.05%.
Insider Activity
In other news, CFO Andrew D. Dickinson sold 142,180 shares of the firm's stock in a transaction dated Friday, January 31st. The stock was 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 $12,626,253.06. This trade represents a 52.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 302,785 shares of company stock worth $30,503,250 over the last 90 days. Company insiders own 0.16% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on the stock. Needham & Company LLC restated a "hold" rating on shares of Gilead Sciences in a research report on Wednesday, February 12th. JPMorgan Chase & Co. lifted their price objective on Gilead Sciences from $120.00 to $130.00 and gave the stock an "overweight" rating in a research report on Thursday. Royal Bank of Canada increased their target price on Gilead Sciences from $84.00 to $90.00 and gave the company a "sector perform" rating in a report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft raised Gilead Sciences from a "hold" rating to a "buy" rating and boosted their price target for the stock from $80.00 to $120.00 in a report on Tuesday, February 18th. Finally, BMO Capital Markets increased their price objective on Gilead Sciences from $110.00 to $115.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Eleven 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's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $105.12.
Check Out Our Latest Stock Analysis on GILD
Gilead Sciences Company 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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