Northwestern Mutual Wealth Management Co. boosted its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 2.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 70,505 shares of the biopharmaceutical company’s stock after acquiring an additional 1,679 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Gilead Sciences were worth $5,270,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of GILD. Norges Bank acquired a new position in shares of Gilead Sciences during the 4th quarter valued at $859,602,000. Capital Research Global Investors increased its position in shares of Gilead Sciences by 10.9% during the 4th quarter. Capital Research Global Investors now owns 85,132,885 shares of the biopharmaceutical company’s stock valued at $5,531,935,000 after purchasing an additional 8,343,863 shares during the period. Valueworks LLC increased its position in shares of Gilead Sciences by 7,777.5% during the 4th quarter. Valueworks LLC now owns 4,919,000 shares of the biopharmaceutical company’s stock valued at $6,146,000 after purchasing an additional 4,856,556 shares during the period. AQR Capital Management LLC increased its position in shares of Gilead Sciences by 59.2% during the 4th quarter. AQR Capital Management LLC now owns 7,208,716 shares of the biopharmaceutical company’s stock valued at $464,529,000 after purchasing an additional 2,682,046 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of Gilead Sciences by 15.1% during the 4th quarter. Renaissance Technologies LLC now owns 16,962,944 shares of the biopharmaceutical company’s stock valued at $1,102,252,000 after purchasing an additional 2,228,686 shares during the period. Hedge funds and other institutional investors own 77.34% of the company’s stock.
In other Gilead Sciences news, Director John Francis Cogan sold 2,413 shares of the firm’s stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $83.00, for a total transaction of $200,279.00. Following the transaction, the director now directly owns 57,273 shares in the company, valued at $4,753,659. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Diane E. Wilfong sold 12,264 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $80.09, for a total value of $982,223.76. Following the transaction, the chief accounting officer now owns 23,685 shares in the company, valued at $1,896,931.65. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 60,585 shares of company stock worth $4,671,283. Corporate insiders own 0.13% of the company’s stock.
Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Thursday, April 30th. The biopharmaceutical company reported $1.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.57 by $0.11. Gilead Sciences had a return on equity of 35.44% and a net margin of 21.84%. The business had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.44 billion. During the same period last year, the company earned $1.67 earnings per share. Gilead Sciences’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, sell-side analysts forecast that Gilead Sciences, Inc. will post 6.34 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, June 12th will be issued a dividend of $0.68 per share. The ex-dividend date is Thursday, June 11th. This represents a $2.72 annualized dividend and a dividend yield of 3.71%. Gilead Sciences’s dividend payout ratio is 44.30%.
Several equities research analysts have recently weighed in on GILD shares. Bank of America raised their price objective on Gilead Sciences from $70.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Royal Bank of Canada reissued a “buy” rating and set a $88.00 price objective on shares of Gilead Sciences in a research note on Tuesday, May 5th. Maxim Group reissued a “hold” rating on shares of Gilead Sciences in a research note on Thursday, April 30th. Morgan Stanley raised their price objective on Gilead Sciences from $75.00 to $77.00 and gave the stock an “equal weight” rating in a research note on Friday, May 1st. Finally, JPMorgan Chase & Co. reissued a “hold” rating and set a $85.00 price objective on shares of Gilead Sciences in a research note on Wednesday, May 13th. Seven research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $78.15.
Gilead Sciences Company Profile
Gilead Sciences, Inc, a research-based biopharmaceutical company, discovers, develops, and commercializes medicines in the areas of unmet medical needs in the United States, Europe, and internationally. The company's products include Biktarvy, Descovy, Odefsey, Genvoya, Stribild, Complera/Eviplera, Atripla, and Truvada for the treatment of human immunodeficiency virus (HIV) infection in adults; and Vosevi, Vemlidy, Epclusa, Harvoni, and Viread products for treating liver diseases.
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