Gilead Sciences, Inc. (NASDAQ:GILD) Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS decreased its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 0.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 375,325 shares of the biopharmaceutical company’s stock after selling 1,170 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Gilead Sciences were worth $30,405,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in GILD. PCA Investment Advisory Services Inc. acquired a new stake in Gilead Sciences in the second quarter valued at approximately $25,000. OFI Invest Asset Management acquired a new stake in Gilead Sciences during the third quarter worth approximately $26,000. Tompkins Financial Corp raised its holdings in Gilead Sciences by 223.1% during the third quarter. Tompkins Financial Corp now owns 349 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 241 shares in the last quarter. Fortitude Family Office LLC acquired a new stake in Gilead Sciences during the fourth quarter worth approximately $29,000. Finally, Rakuten Securities Inc. acquired a new stake in Gilead Sciences during the fourth quarter worth approximately $33,000. Institutional investors and hedge funds own 83.67% of the company’s stock.

Insiders Place Their Bets

In related news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $73.18, for a total value of $146,360.00. Following the sale, the insider now directly owns 100,936 shares in the company, valued at approximately $7,386,496.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.16% of the company’s stock.

Gilead Sciences Price Performance

Shares of NASDAQ GILD opened at $66.76 on Friday. The firm has a market capitalization of $83.12 billion, a P/E ratio of 14.84, a PEG ratio of 0.92 and a beta of 0.19. Gilead Sciences, Inc. has a one year low of $65.90 and a one year high of $87.86. The company’s fifty day moving average is $71.96 and its two-hundred day moving average is $76.56. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.27 and a current ratio of 1.43.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Tuesday, February 6th. The biopharmaceutical company reported $1.72 EPS for the quarter, missing the consensus estimate of $1.76 by ($0.04). The company had revenue of $7.12 billion for the quarter, compared to analysts’ expectations of $7.10 billion. Gilead Sciences had a return on equity of 38.85% and a net margin of 20.89%. Gilead Sciences’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.67 earnings per share. Analysts forecast that Gilead Sciences, Inc. will post 6.55 EPS for the current fiscal year.

Gilead Sciences Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a dividend of $0.77 per share. This is a positive change from Gilead Sciences’s previous quarterly dividend of $0.75. This represents a $3.08 annualized dividend and a dividend yield of 4.61%. The ex-dividend date of this dividend was Thursday, March 14th. Gilead Sciences’s payout ratio is presently 68.44%.

Analyst Ratings Changes

A number of analysts have weighed in on GILD shares. Barclays cut their price objective on shares of Gilead Sciences from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday, February 12th. Cantor Fitzgerald cut their price objective on shares of Gilead Sciences from $80.00 to $78.00 and set a “neutral” rating on the stock in a report on Wednesday, February 7th. Wells Fargo & Company cut their price objective on shares of Gilead Sciences from $84.00 to $77.00 and set an “equal weight” rating on the stock in a report on Monday, March 4th. UBS Group cut their target price on shares of Gilead Sciences from $81.00 to $75.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $105.00 target price on shares of Gilead Sciences in a report on Friday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Gilead Sciences presently has a consensus rating of “Hold” and a consensus price target of $84.71.

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.