Lincoln National Corp decreased its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD – Free Report) by 4.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,727 shares of the biopharmaceutical company’s stock after selling 392 shares during the quarter. Lincoln National Corp’s holdings in Gilead Sciences were worth $641,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership lifted its position in shares of Gilead Sciences by 324.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 18,002,214 shares of the biopharmaceutical company’s stock valued at $1,070,232,000 after buying an additional 13,764,169 shares during the last quarter. Norges Bank bought a new stake in Gilead Sciences in the 4th quarter valued at $1,115,186,000. Moneta Group Investment Advisors LLC lifted its holdings in Gilead Sciences by 96,759.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 10,111,194 shares of the biopharmaceutical company’s stock valued at $868,046,000 after purchasing an additional 10,100,755 shares during the last quarter. Renaissance Technologies LLC boosted its position in Gilead Sciences by 70.6% during the first quarter. Renaissance Technologies LLC now owns 15,492,116 shares of the biopharmaceutical company’s stock worth $921,006,000 after purchasing an additional 6,410,047 shares during the period. Finally, Alliancebernstein L.P. increased its holdings in shares of Gilead Sciences by 117.5% in the fourth quarter. Alliancebernstein L.P. now owns 3,889,780 shares of the biopharmaceutical company’s stock valued at $333,938,000 after purchasing an additional 2,101,626 shares during the last quarter. Institutional investors own 81.59% of the company’s stock.
Insider Activity at Gilead Sciences
In other Gilead Sciences news, CFO Andrew D. Dickinson sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $80.00, for a total value of $400,000.00. Following the completion of the transaction, the chief financial officer now directly owns 107,587 shares in the company, valued at approximately $8,606,960. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Merdad Parsey sold 1,485 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $76.90, for a total value of $114,196.50. Following the sale, the insider now directly owns 29,402 shares in the company, valued at $2,261,013.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Andrew D. Dickinson sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $80.00, for a total transaction of $400,000.00. Following the transaction, the chief financial officer now owns 107,587 shares of the company’s stock, valued at approximately $8,606,960. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.
Gilead Sciences Price Performance
Gilead Sciences (NASDAQ:GILD – Get Free Report) last announced its quarterly earnings results on Thursday, April 27th. The biopharmaceutical company reported $1.37 EPS for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.26). The firm had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.33 billion. Gilead Sciences had a net margin of 20.65% and a return on equity of 39.35%. The firm’s revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.12 earnings per share. Research analysts anticipate that Gilead Sciences, Inc. will post 6.7 EPS for the current fiscal year.
Gilead Sciences Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 29th. Stockholders of record on Thursday, June 15th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.72%. The ex-dividend date of this dividend was Wednesday, June 14th. Gilead Sciences’s dividend payout ratio is currently 67.72%.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on the stock. Morgan Stanley upped their price target on shares of Gilead Sciences from $81.00 to $85.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 12th. BMO Capital Markets lowered their target price on Gilead Sciences from $100.00 to $95.00 in a research note on Tuesday, July 18th. Cantor Fitzgerald reduced their price target on Gilead Sciences from $85.00 to $80.00 and set a “neutral” rating for the company in a research note on Wednesday, July 19th. Barclays decreased their price objective on Gilead Sciences from $84.00 to $81.00 in a report on Tuesday, July 11th. Finally, StockNews.com initiated coverage on shares of Gilead Sciences in a research note on Thursday, May 18th. They issued a “strong-buy” rating on the stock. Eight analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $91.10.
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, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of coronavirus disease 2019; and Epclusa, Harvoni, Vosevi, Vemlidy, and Viread for the treatment of viral hepatitis.
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