Fisher Asset Management LLC Lowers Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Fisher Asset Management LLC reduced its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 10.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 12,306 shares of the biopharmaceutical company’s stock after selling 1,376 shares during the period. Fisher Asset Management LLC’s holdings in Gilead Sciences were worth $997,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Rathbones Group PLC purchased a new stake in shares of Gilead Sciences in the third quarter valued at about $302,000. LPL Financial LLC boosted its holdings in shares of Gilead Sciences by 5.9% in the third quarter. LPL Financial LLC now owns 855,585 shares of the biopharmaceutical company’s stock valued at $64,118,000 after acquiring an additional 47,547 shares in the last quarter. Mariner LLC boosted its holdings in shares of Gilead Sciences by 0.7% in the third quarter. Mariner LLC now owns 171,829 shares of the biopharmaceutical company’s stock valued at $12,877,000 after acquiring an additional 1,191 shares in the last quarter. Cary Street Partners Investment Advisory LLC boosted its holdings in shares of Gilead Sciences by 75.3% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 4,289 shares of the biopharmaceutical company’s stock valued at $321,000 after acquiring an additional 1,842 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Gilead Sciences by 70.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 47,084 shares of the biopharmaceutical company’s stock valued at $3,528,000 after acquiring an additional 19,436 shares in the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Gilead Sciences

In related news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $72.96, for a total value of $145,920.00. Following the completion of the sale, the insider now directly owns 96,304 shares in the company, valued at $7,026,339.84. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.16% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GILD. Barclays reduced their price objective on shares of Gilead Sciences from $80.00 to $76.00 and set an “equal weight” rating for the company in a research note on Monday, April 29th. StockNews.com upgraded shares of Gilead Sciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 27th. TD Cowen reduced their price objective on shares of Gilead Sciences from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, April 26th. Wells Fargo & Company reduced their price objective on shares of Gilead Sciences from $84.00 to $77.00 and set an “equal weight” rating for the company in a research note on Monday, March 4th. Finally, UBS Group reduced their price objective on shares of Gilead Sciences from $81.00 to $75.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. Twelve research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $83.47.

Gilead Sciences Stock Performance

NASDAQ:GILD opened at $70.67 on Friday. The firm has a 50 day simple moving average of $65.74 and a 200-day simple moving average of $72.94. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.08 and a quick ratio of 0.94. The firm has a market cap of $88.04 billion, a PE ratio of 196.31, a P/E/G ratio of 1.38 and a beta of 0.20. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $87.86.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.49) by $0.17. The business had revenue of $6.69 billion during the quarter, compared to analyst estimates of $6.36 billion. Gilead Sciences had a net margin of 1.76% and a return on equity of 24.34%. The company’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.37 earnings per share. On average, equities analysts expect that Gilead Sciences, Inc. will post 3.75 EPS for the current year.

Gilead Sciences Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Friday, June 14th will be issued a $0.77 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $3.08 dividend on an annualized basis and a yield of 4.36%. Gilead Sciences’s payout ratio is 855.56%.

Gilead Sciences Profile

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.