Cigna Investments Inc. New lifted its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 6.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,777 shares of the biopharmaceutical company’s stock after acquiring an additional 2,150 shares during the quarter. Cigna Investments Inc. New’s holdings in Gilead Sciences were worth $2,675,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently modified their holdings of GILD. Norges Bank bought a new stake in Gilead Sciences in the fourth quarter worth approximately $859,602,000. Capital Research Global Investors increased its holdings in Gilead Sciences by 10.9% in the fourth quarter. Capital Research Global Investors now owns 85,132,885 shares of the biopharmaceutical company’s stock worth $5,531,935,000 after purchasing an additional 8,343,863 shares in the last quarter. Valueworks LLC increased its holdings in Gilead Sciences by 7,777.5% in the fourth quarter. Valueworks LLC now owns 4,919,000 shares of the biopharmaceutical company’s stock worth $6,146,000 after purchasing an additional 4,856,556 shares in the last quarter. AQR Capital Management LLC increased its holdings in Gilead Sciences by 59.2% in the fourth quarter. AQR Capital Management LLC now owns 7,208,716 shares of the biopharmaceutical company’s stock worth $464,529,000 after purchasing an additional 2,682,046 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Gilead Sciences by 15.1% in the fourth quarter. Renaissance Technologies LLC now owns 16,962,944 shares of the biopharmaceutical company’s stock worth $1,102,252,000 after purchasing an additional 2,228,686 shares in the last quarter. Institutional investors own 77.34% of the company’s stock.
In related news, EVP Brett A. Pletcher sold 13,210 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $79.23, for a total transaction of $1,046,628.30. Following the sale, the executive vice president now directly owns 27,204 shares in the company, valued at approximately $2,155,372.92. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John Francis Cogan sold 2,413 shares of the business’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $77.97, for a total value of $188,141.61. Following the transaction, the director now owns 57,273 shares of the company’s stock, valued at $4,465,575.81. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 60,585 shares of company stock worth $4,671,283. 0.13% of the stock is currently owned by corporate insiders.
Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Thursday, April 30th. The biopharmaceutical company reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.11. Gilead Sciences had a return on equity of 35.44% and a net margin of 21.84%. The company had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.44 billion. During the same period in the previous year, the company posted $1.67 EPS. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, research analysts expect that Gilead Sciences, Inc. will post 6.34 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, June 12th will be paid a dividend of $0.68 per share. The ex-dividend date is Thursday, June 11th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 3.71%. Gilead Sciences’s payout ratio is 44.30%.
A number of brokerages have weighed in on GILD. Maxim Group reiterated a “hold” rating on shares of Gilead Sciences in a report on Thursday, April 30th. TheStreet raised Gilead Sciences from a “c” rating to a “b-” rating in a research note on Friday, February 21st. Raymond James cut Gilead Sciences from an “outperform” rating to a “market perform” rating in a research note on Friday, May 1st. Sanford C. Bernstein cut Gilead Sciences from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $78.00 to $70.00 in a research note on Thursday, February 6th. Finally, Oppenheimer reissued a “buy” rating on shares of Gilead Sciences in a research note on Monday, May 18th. Seven investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have given a buy rating to the stock. Gilead Sciences currently has an average rating of “Hold” and an average target price of $78.15.
Gilead Sciences Profile
Gilead Sciences, Inc, a research-based biopharmaceutical company, discovers, develops, and commercializes medicines in the areas of unmet medical needs in the United States, Europe, and internationally. The company's products include Biktarvy, Descovy, Odefsey, Genvoya, Stribild, Complera/Eviplera, Atripla, and Truvada for the treatment of human immunodeficiency virus (HIV) infection in adults; and Vosevi, Vemlidy, Epclusa, Harvoni, and Viread products for treating liver diseases.
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