Charles Schwab Investment Management Inc. raised its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 3.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,752,975 shares of the biopharmaceutical company's stock after purchasing an additional 224,960 shares during the period. Charles Schwab Investment Management Inc. owned 0.62% of Gilead Sciences worth $650,009,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Manning & Napier Advisors LLC acquired a new stake in Gilead Sciences during the second quarter valued at $25,328,000. Legal & General Group Plc lifted its position in shares of Gilead Sciences by 0.8% during the 2nd quarter. Legal & General Group Plc now owns 12,414,268 shares of the biopharmaceutical company's stock valued at $851,743,000 after buying an additional 93,068 shares in the last quarter. IRON Financial LLC purchased a new stake in Gilead Sciences in the 3rd quarter worth $830,000. Wealth Enhancement Advisory Services LLC lifted its holdings in Gilead Sciences by 13.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 286,116 shares of the biopharmaceutical company's stock valued at $19,630,000 after purchasing an additional 33,162 shares in the last quarter. Finally, Cetera Investment Advisers grew its position in shares of Gilead Sciences by 127.6% in the first quarter. Cetera Investment Advisers now owns 213,901 shares of the biopharmaceutical company's stock valued at $15,668,000 after purchasing an additional 119,909 shares during the period. Hedge funds and other institutional investors own 83.67% of the company's stock.
GILD has been the subject of several research reports. Cantor Fitzgerald boosted their price objective on Gilead Sciences from $70.00 to $80.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. Leerink Partners raised shares of Gilead Sciences from a "market perform" rating to an "outperform" rating and upped their target price for the stock from $74.00 to $96.00 in a report on Monday, October 21st. Needham & Company LLC restated a "hold" rating on shares of Gilead Sciences in a research report on Thursday, November 7th. Wolfe Research assumed coverage on shares of Gilead Sciences in a report on Friday, November 15th. They issued an "outperform" rating and a $110.00 price objective for the company. Finally, Royal Bank of Canada boosted their target price on Gilead Sciences from $81.00 to $84.00 and gave the stock a "sector perform" rating in a report on Monday. Twelve analysts have rated the stock with a hold rating, eleven have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $95.41.
Read Our Latest Stock Analysis on GILD
Shares of GILD opened at $89.84 on Friday. The company's 50-day simple moving average is $87.28 and its 200-day simple moving average is $76.61. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.10 and a current ratio of 1.26. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $98.90. The stock has a market capitalization of $111.96 billion, a PE ratio of 998.22, a P/E/G ratio of 2.72 and a beta of 0.17.
Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, topping the consensus estimate of $1.58 by $0.44. The business had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.01 billion. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The company's quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.29 earnings per share. Analysts forecast that Gilead Sciences, Inc. will post 4.38 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date is Friday, December 13th. Gilead Sciences's dividend payout ratio is presently 3,422.22%.
In related news, insider Johanna Mercier sold 29,357 shares of Gilead Sciences stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the sale, the insider now directly owns 78,127 shares in the company, valued at $6,545,480.06. This trade represents a 27.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Merdad Parsey sold 25,590 shares of the company's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the completion of the transaction, the insider now owns 99,599 shares of the company's stock, valued at $9,113,308.50. This represents a 20.44 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,947 shares of company stock worth $4,968,674. Company insiders own 0.16% of the company's stock.
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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