Rhenman & Partners Asset Management AB Has $23.60 Million Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Rhenman & Partners Asset Management AB lessened its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 30.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 255,500 shares of the biopharmaceutical company’s stock after selling 111,000 shares during the quarter. Gilead Sciences makes up 2.4% of Rhenman & Partners Asset Management AB’s holdings, making the stock its 11th biggest holding. Rhenman & Partners Asset Management AB’s holdings in Gilead Sciences were worth $23,601,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of GILD. Wellington Management Group LLP boosted its position in Gilead Sciences by 3.1% during the 4th quarter. Wellington Management Group LLP now owns 35,659,007 shares of the biopharmaceutical company’s stock worth $3,293,822,000 after buying an additional 1,058,331 shares during the period. Geode Capital Management LLC raised its stake in shares of Gilead Sciences by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 28,289,917 shares of the biopharmaceutical company’s stock valued at $2,608,337,000 after acquiring an additional 749,047 shares during the last quarter. Norges Bank acquired a new position in shares of Gilead Sciences during the fourth quarter worth $1,789,254,000. Charles Schwab Investment Management Inc. grew its stake in shares of Gilead Sciences by 3.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,002,779 shares of the biopharmaceutical company’s stock worth $739,217,000 after purchasing an additional 249,804 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in Gilead Sciences by 0.7% during the 4th quarter. Alliancebernstein L.P. now owns 7,047,846 shares of the biopharmaceutical company’s stock worth $651,010,000 after purchasing an additional 50,434 shares during the last quarter. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Gilead Sciences Stock Down 4.6 %

Shares of NASDAQ:GILD opened at $107.25 on Friday. The business’s 50 day moving average is $107.30 and its 200 day moving average is $95.80. Gilead Sciences, Inc. has a 12-month low of $62.07 and a 12-month high of $119.96. The stock has a market cap of $133.54 billion, a price-to-earnings ratio of 289.86, a PEG ratio of 0.71 and a beta of 0.32. The company has a quick ratio of 1.20, a current ratio of 1.50 and a debt-to-equity ratio of 1.24.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.67 by $0.23. Gilead Sciences had a net margin of 1.67% and a return on equity of 31.63%. On average, sell-side analysts forecast that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a dividend of $0.79 per share. The ex-dividend date was Friday, March 14th. This represents a $3.16 annualized dividend and a dividend yield of 2.95%. This is a boost from Gilead Sciences’s previous quarterly dividend of $0.77. Gilead Sciences’s dividend payout ratio (DPR) is currently 854.05%.

Analyst Upgrades and Downgrades

GILD has been the topic of a number of analyst reports. Bank of America upped their price target on Gilead Sciences from $116.00 to $126.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $80.00 target price on shares of Gilead Sciences in a report on Wednesday, December 11th. Wells Fargo & Company raised their price target on shares of Gilead Sciences from $120.00 to $140.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Piper Sandler upped their price objective on shares of Gilead Sciences from $105.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Finally, BMO Capital Markets increased their price objective on shares of Gilead Sciences from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Eleven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $105.12.

Insider Transactions at Gilead Sciences

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 2,500 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $91.35, for a total value of $228,375.00. Following the transaction, the chief financial officer now owns 129,873 shares of the company’s stock, valued at approximately $11,863,898.55. The trade was a 1.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 302,785 shares of company stock worth $30,503,250 in the last 90 days. Insiders own 0.16% of the company’s stock.

Gilead Sciences Profile

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.