Gilead Sciences, Inc. (NASDAQ:GILD) Shares Purchased by Cibc World Markets Corp

Cibc World Markets Corp grew its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 236.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 661,209 shares of the biopharmaceutical company’s stock after purchasing an additional 464,874 shares during the period. Cibc World Markets Corp owned 0.05% of Gilead Sciences worth $61,076,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In other news, CFO Andrew D. Dickinson sold 2,500 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $91.35, for a total transaction of $228,375.00. Following the completion of the transaction, the chief financial officer now owns 129,873 shares in the company, valued at approximately $11,863,898.55. This represents a 1.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 302,785 shares of company stock valued at $30,503,250 over the last three months. Company insiders own 0.16% of the company’s stock.

Gilead Sciences Stock Down 1.7 %

GILD stock opened at $111.44 on Monday. The firm has a market cap of $138.78 billion, a price-to-earnings ratio of 301.19, a PEG ratio of 0.71 and a beta of 0.21. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $119.96. The firm has a fifty day moving average price of $101.82 and a two-hundred day moving average price of $92.92. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.50 and a quick ratio of 1.20.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.23. Gilead Sciences had a net margin of 1.67% and a return on equity of 31.63%. Research analysts predict that Gilead Sciences, Inc. will post 7.95 EPS for the current year.

Gilead Sciences Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a dividend of $0.79 per share. The ex-dividend date is Friday, March 14th. This represents a $3.16 dividend on an annualized basis and a yield of 2.84%. This is a positive change from Gilead Sciences’s previous quarterly dividend of $0.77. Gilead Sciences’s payout ratio is currently 854.05%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on GILD shares. Bank of America boosted their target price on shares of Gilead Sciences from $116.00 to $126.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Wells Fargo & Company boosted their price objective on shares of Gilead Sciences from $120.00 to $140.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research report on Wednesday, February 12th. Morgan Stanley increased their price target on Gilead Sciences from $123.00 to $130.00 and gave the company an “overweight” rating in a report on Tuesday, March 11th. Finally, Daiwa America upgraded Gilead Sciences to a “hold” rating in a research note on Monday, November 18th. Eleven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, Gilead Sciences has an average rating of “Moderate Buy” and an average target price of $104.52.

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.