Channing Capital Management LLC Cuts Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Channing Capital Management LLC cut its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 6.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 98,658 shares of the biopharmaceutical company’s stock after selling 6,347 shares during the period. Channing Capital Management LLC’s holdings in Gilead Sciences were worth $9,113,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in GILD. FMR LLC increased its stake in Gilead Sciences by 79.4% during the third quarter. FMR LLC now owns 33,162,319 shares of the biopharmaceutical company’s stock worth $2,780,329,000 after acquiring an additional 14,680,161 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Gilead Sciences by 50.9% during the 3rd quarter. Wellington Management Group LLP now owns 34,600,676 shares of the biopharmaceutical company’s stock worth $2,900,921,000 after purchasing an additional 11,665,593 shares during the period. Pacer Advisors Inc. increased its position in Gilead Sciences by 723.3% during the 4th quarter. Pacer Advisors Inc. now owns 6,434,665 shares of the biopharmaceutical company’s stock worth $594,370,000 after purchasing an additional 5,653,075 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Gilead Sciences in the fourth quarter valued at approximately $207,340,000. Finally, Point72 Asset Management L.P. lifted its position in Gilead Sciences by 350.1% during the third quarter. Point72 Asset Management L.P. now owns 2,305,270 shares of the biopharmaceutical company’s stock valued at $193,274,000 after buying an additional 1,793,145 shares in the last quarter. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Gilead Sciences Trading Down 0.2 %

NASDAQ GILD opened at $117.21 on Tuesday. The firm has a market capitalization of $145.97 billion, a PE ratio of 316.78, a price-to-earnings-growth ratio of 0.71 and a beta of 0.21. Gilead Sciences, Inc. has a one year low of $62.07 and a one year high of $119.96. The company has a 50-day simple moving average of $100.12 and a 200-day simple moving average of $91.91. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.20 and a current ratio of 1.50.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results 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, equities analysts forecast that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 2.70%. This is a boost from Gilead Sciences’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend is Friday, March 14th. Gilead Sciences’s dividend payout ratio (DPR) is presently 854.05%.

Insider Activity

In other news, CFO Andrew D. Dickinson sold 8,500 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $91.96, for a total transaction of $781,660.00. Following the completion of the transaction, the chief financial officer now directly owns 132,373 shares in the company, valued at approximately $12,173,021.08. The trade was a 6.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders sold 293,356 shares of company stock valued at $29,166,240. 0.16% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on GILD. Wolfe Research assumed coverage on Gilead Sciences in a research note on Friday, November 15th. They set an “outperform” rating and a $110.00 price objective on the stock. Cantor Fitzgerald restated a “neutral” rating and issued a $80.00 price target on shares of Gilead Sciences in a report on Wednesday, December 11th. Daiwa America raised shares of Gilead Sciences to a “hold” rating in a research report on Monday, November 18th. Citigroup started coverage on shares of Gilead Sciences in a research report on Thursday, November 14th. They set a “buy” rating and a $125.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft raised shares of Gilead Sciences from a “hold” rating to a “buy” rating and raised their price target for the company from $80.00 to $120.00 in a report on Tuesday, February 18th. Eleven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $104.24.

About Gilead Sciences

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.