Metropolitan Life Insurance Co NY cut its position in Gilead Sciences, Inc. (NASDAQ:GILD – Free Report) by 2.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,358 shares of the biopharmaceutical company’s stock after selling 1,417 shares during the quarter. Metropolitan Life Insurance Co NY’s holdings in Gilead Sciences were worth $4,189,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank Julius Baer & Co. Ltd Zurich raised its position in Gilead Sciences by 98,797.6% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 394,005,889 shares of the biopharmaceutical company’s stock valued at $30,366,034,000 after purchasing an additional 393,607,491 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of 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 in the last quarter. Norges Bank bought a new stake in shares of Gilead Sciences during the 4th quarter worth $1,115,186,000. Moneta Group Investment Advisors LLC boosted its stake in Gilead Sciences by 96,759.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 10,111,194 shares of the biopharmaceutical company’s stock valued at $868,046,000 after buying an additional 10,100,755 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in Gilead Sciences by 70.6% in the first quarter. Renaissance Technologies LLC now owns 15,492,116 shares of the biopharmaceutical company’s stock valued at $921,006,000 after acquiring an additional 6,410,047 shares during the last quarter. Institutional investors own 82.33% of the company’s stock.
Gilead Sciences Stock Performance
NASDAQ:GILD opened at $76.00 on Tuesday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.20 and a current ratio of 1.34. Gilead Sciences, Inc. has a fifty-two week low of $72.87 and a fifty-two week high of $89.74. The company has a 50 day simple moving average of $76.80 and a two-hundred day simple moving average of $77.24. The company has a market capitalization of $94.70 billion, a PE ratio of 16.31, a P/E/G ratio of 1.00 and a beta of 0.32.
Gilead Sciences Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Friday, December 15th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date is Thursday, December 14th. Gilead Sciences’s dividend payout ratio is 64.38%.
Insider Activity at Gilead Sciences
In other Gilead Sciences news, insider Merdad Parsey sold 1,501 shares of Gilead Sciences stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $76.99, for a total value of $115,561.99. Following the completion of the sale, the insider now directly owns 70,130 shares in the company, valued at $5,399,308.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Gilead Sciences news, insider Merdad Parsey sold 1,501 shares of the firm’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $76.99, for a total value of $115,561.99. Following the completion of the sale, the insider now directly owns 70,130 shares in the company, valued at $5,399,308.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Andrew D. Dickinson sold 5,000 shares of the company’s stock in a transaction dated Tuesday, October 17th. The shares were 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 104,003 shares in the company, valued at approximately $8,320,240. The disclosure for this sale can be found here. 0.16% of the stock is owned by corporate insiders.
Analyst Ratings Changes
A number of research firms have recently weighed in on GILD. Piper Sandler reduced their price target on shares of Gilead Sciences from $105.00 to $100.00 and set an “overweight” rating on the stock in a research note on Monday, July 24th. Truist Financial restated a “buy” rating and issued a $91.00 target price on shares of Gilead Sciences in a research report on Wednesday, September 6th. HSBC started coverage on shares of Gilead Sciences in a report on Wednesday, September 6th. They set a “reduce” rating and a $71.00 price target for the company. Bank of America raised Gilead Sciences from a “neutral” rating to a “buy” rating and raised their price objective for the company from $88.00 to $95.00 in a report on Friday, September 8th. Finally, Morgan Stanley upped their target price on Gilead Sciences from $86.00 to $88.00 and gave the stock an “equal weight” rating in a report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Gilead Sciences currently has a consensus rating of “Hold” and a consensus price target of $88.22.
Gilead Sciences Company 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, 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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