3,594 Shares in Gilead Sciences, Inc. (NASDAQ:GILD) Acquired by Pzena Investment Management LLC

Posted by Defense World Staff on Sep 10th, 2023

Gilead Sciences logo Pzena Investment Management LLC purchased a new position in shares of Gilead Sciences, Inc. (NASDAQ:GILD – Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 3,594 shares of the biopharmaceutical company’s stock, valued at approximately $298,000.

A number of other hedge funds have also recently added to or reduced their stakes in GILD. Arrowstreet Capital Limited Partnership grew its stake in Gilead Sciences by 324.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 18,002,214 shares of the biopharmaceutical company’s stock worth $1,070,232,000 after buying an additional 13,764,169 shares during the last quarter. Norges Bank acquired a new stake in Gilead Sciences during the 4th quarter worth approximately $1,115,186,000. Moneta Group Investment Advisors LLC lifted its position 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 worth $868,046,000 after acquiring an additional 10,100,755 shares during the period. Renaissance Technologies LLC lifted its position in Gilead Sciences by 70.6% during the 1st quarter. Renaissance Technologies LLC now owns 15,492,116 shares of the biopharmaceutical company’s stock worth $921,006,000 after acquiring an additional 6,410,047 shares during the period. Finally, FMR LLC lifted its position in Gilead Sciences by 27.2% during the 1st quarter. FMR LLC now owns 20,909,082 shares of the biopharmaceutical company’s stock worth $1,734,826,000 after acquiring an additional 4,470,179 shares during the period. Hedge funds and other institutional investors own 82.33% of the company’s stock.

Gilead Sciences Price Performance

Shares of NASDAQ:GILD opened at $76.00 on Friday. Gilead Sciences, Inc. has a 52 week low of $61.44 and a 52 week high of $89.74. The company has a market cap of $94.70 billion, a P/E ratio of 17.47, a P/E/G ratio of 0.83 and a beta of 0.37. The company has a quick ratio of 0.91, a current ratio of 1.02 and a debt-to-equity ratio of 1.07. The business has a fifty day simple moving average of $77.22 and a 200-day simple moving average of $78.96.

Gilead Sciences (NASDAQ:GILD – Get Free Report) last issued its earnings results on Thursday, August 3rd. The biopharmaceutical company reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.30). Gilead Sciences had a net margin of 20.03% and a return on equity of 37.53%. The firm had revenue of $6.60 billion during the quarter, compared to analyst estimates of $6.45 billion. During the same quarter in the previous year, the business posted $1.58 EPS. Gilead Sciences’s revenue was up 5.4% compared to the same quarter last year. Equities research analysts forecast that Gilead Sciences, Inc. will post 6.63 EPS for the current year.

Gilead Sciences Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Friday, September 15th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date is Thursday, September 14th. Gilead Sciences’s payout ratio is currently 68.97%.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, insider Merdad Parsey sold 1,485 shares of the business’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $76.90, for a total transaction of $114,196.50. Following the transaction, the insider now owns 29,402 shares in the company, valued at $2,261,013.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Gilead Sciences news, insider Merdad Parsey sold 1,485 shares of the business’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $76.90, for a total transaction of $114,196.50. Following the transaction, the insider now owns 29,402 shares in the company, valued at $2,261,013.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Andrew D. Dickinson sold 5,000 shares of the business’s stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $80.00, for a total value of $400,000.00. Following the transaction, the chief financial officer now owns 107,587 shares in the company, valued at approximately $8,606,960. The disclosure for this sale can be found here. 0.16% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. StockNews.com assumed coverage on Gilead Sciences in a research report on Thursday, August 17th. They set a “strong-buy” rating for the company. Royal Bank of Canada raised their price target on Gilead Sciences from $83.00 to $84.00 and gave the company a “sector perform” rating in a report on Friday, August 4th. Piper Sandler reduced their price target on Gilead Sciences from $105.00 to $100.00 and set an “overweight” rating for the company in a report on Monday, July 24th. Cantor Fitzgerald dropped their price objective 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. Finally, HSBC assumed coverage on Gilead Sciences in a research note on Wednesday. They issued a “reduce” rating and a $71.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $90.05.

View Our Latest Research Report on GILD

About Gilead Sciences

(Free Report)

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.