M&G Investment Management Ltd. decreased its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 15.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 101,302 shares of the biopharmaceutical company’s stock after selling 18,545 shares during the period. M&G Investment Management Ltd.’s holdings in Gilead Sciences were worth $6,585,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently modified their holdings of the company. Barrett Asset Management LLC raised its stake in shares of Gilead Sciences by 333.0% during the 4th quarter. Barrett Asset Management LLC now owns 433 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 333 shares during the last quarter. Tortoise Investment Management LLC raised its stake in shares of Gilead Sciences by 81.6% during the 4th quarter. Tortoise Investment Management LLC now owns 445 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 200 shares during the last quarter. Graves Light Private Wealth Management Inc. purchased a new position in shares of Gilead Sciences during the 4th quarter valued at about $27,000. Elkhorn Partners Limited Partnership purchased a new position in shares of Gilead Sciences during the 4th quarter valued at about $29,000. Finally, Rockbridge Investment Management LCC raised its stake in shares of Gilead Sciences by 236.5% during the 4th quarter. Rockbridge Investment Management LCC now owns 535 shares of the biopharmaceutical company’s stock valued at $31,000 after buying an additional 376 shares during the last quarter. Institutional investors own 77.18% of the company’s stock.
A number of equities research analysts have recently commented on GILD shares. Redburn Partners upgraded Gilead Sciences from a “neutral” rating to a “buy” rating in a research report on Tuesday, March 30th. Jefferies Financial Group restated a “buy” rating and set a $80.00 target price on shares of Gilead Sciences in a research report on Friday, May 7th. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a research report on Friday, April 30th. Morgan Stanley raised their target price on Gilead Sciences from $81.00 to $83.00 and gave the company an “overweight” rating in a research report on Monday, May 3rd. Finally, Zacks Investment Research upgraded Gilead Sciences from a “sell” rating to a “hold” rating and set a $69.00 target price on the stock in a research report on Wednesday, May 5th. Ten equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $99.22.
Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Thursday, April 29th. The biopharmaceutical company reported $2.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.06 by $0.02. The firm had revenue of $6.42 billion for the quarter, compared to analyst estimates of $6.78 billion. Gilead Sciences had a net margin of 1.18% and a return on equity of 51.91%. On average, sell-side analysts forecast that Gilead Sciences, Inc. will post 7.07 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 29th. Stockholders of record on Tuesday, June 15th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 4.10%. The ex-dividend date is Monday, June 14th. Gilead Sciences’s payout ratio is presently 40.06%.
In other news, Director Richard James Whitley sold 20,282 shares of Gilead Sciences stock in a transaction that occurred on Monday, May 3rd. The shares were sold at an average price of $64.57, for a total transaction of $1,309,608.74. Following the sale, the director now owns 51,404 shares of the company’s stock, valued at approximately $3,319,156.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.12% of the stock is currently owned by insiders.
Gilead Sciences Company Profile
Gilead Sciences, Inc, a research-based 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, and Atripla products for the treatment of human immunodeficiency virus (HIV) infection; Veklury, an injection for intravenous use, for the treatment of coronavirus disease 2019; and Epclusa, Harvoni, Vosevi, Vemlidy, and Viread for the treatment of liver diseases.
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