CCM Investment Advisers LLC increased its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD – Free Report) by 34.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 142,961 shares of the biopharmaceutical company’s stock after buying an additional 36,326 shares during the quarter. Gilead Sciences accounts for 1.7% of CCM Investment Advisers LLC’s investment portfolio, making the stock its 27th largest holding. CCM Investment Advisers LLC’s holdings in Gilead Sciences were worth $11,861,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also bought and sold shares of GILD. Altshuler Shaham Ltd lifted its position in Gilead Sciences by 7.0% during the 4th quarter. Altshuler Shaham Ltd now owns 1,856 shares of the biopharmaceutical company’s stock worth $159,000 after acquiring an additional 121 shares during the period. McGlone Suttner Wealth Management Inc. lifted its position in Gilead Sciences by 3.6% during the 1st quarter. McGlone Suttner Wealth Management Inc. now owns 3,581 shares of the biopharmaceutical company’s stock worth $297,000 after acquiring an additional 124 shares during the period. Pinkerton Retirement Specialists LLC lifted its position in Gilead Sciences by 2.8% during the 1st quarter. Pinkerton Retirement Specialists LLC now owns 4,703 shares of the biopharmaceutical company’s stock worth $390,000 after acquiring an additional 129 shares during the period. Heritage Wealth Management LLC lifted its position in Gilead Sciences by 54.6% during the 4th quarter. Heritage Wealth Management LLC now owns 368 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 130 shares during the period. Finally, BerganKDV Wealth Management LLC raised its stake in shares of Gilead Sciences by 41.9% during the 1st quarter. BerganKDV Wealth Management LLC now owns 440 shares of the biopharmaceutical company’s stock valued at $37,000 after buying an additional 130 shares during the last quarter. Institutional investors own 82.33% of the company’s stock.
Analyst Upgrades and Downgrades
GILD has been the subject of a number of recent research reports. Truist Financial reiterated a “buy” rating and set a $91.00 price objective on shares of Gilead Sciences in a research note on Wednesday, September 6th. Piper Sandler reduced their price objective on Gilead Sciences from $105.00 to $100.00 and set an “overweight” rating for the company in a research note on Monday, July 24th. Morgan Stanley lifted their price objective on Gilead Sciences from $86.00 to $88.00 and gave the company an “equal weight” rating in a research note on Friday, August 4th. StockNews.com initiated coverage on Gilead Sciences in a research note on Thursday, August 17th. They set a “strong-buy” rating for the company. Finally, HSBC started coverage on Gilead Sciences in a research note on Wednesday, September 6th. They set a “reduce” rating and a $71.00 price objective for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $90.05.
Gilead Sciences Trading Down 0.3 %
GILD opened at $76.80 on Wednesday. The stock has a market capitalization of $95.69 billion, a PE ratio of 17.66, a P/E/G ratio of 0.83 and a beta of 0.37. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.91 and a current ratio of 1.02. Gilead Sciences, Inc. has a one year low of $61.44 and a one year high of $89.74. The business’s 50 day moving average price is $77.23 and its 200 day moving average price is $78.86.
Gilead Sciences (NASDAQ:GILD – Get Free Report) last posted its quarterly earnings data 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 return on equity of 37.53% and a net margin of 20.03%. The company had revenue of $6.60 billion for the quarter, compared to analysts’ expectations of $6.45 billion. During the same period in the prior year, the company posted $1.58 EPS. The firm’s revenue was up 5.4% compared to the same quarter last year. As a group, equities research analysts expect that Gilead Sciences, Inc. will post 6.63 EPS for the current year.
Gilead Sciences Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Friday, September 15th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date is Thursday, September 14th. Gilead Sciences’s dividend payout ratio is currently 68.97%.
Insider Transactions at Gilead Sciences
In other news, CFO Andrew D. Dickinson sold 5,000 shares of the company’s stock in a transaction 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 sale, the chief financial officer now owns 107,587 shares of the company’s stock, valued at $8,606,960. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.16% of the company’s stock.
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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