Investment Management Corp of Ontario Raises Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Investment Management Corp of Ontario raised its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 43.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 144,048 shares of the biopharmaceutical company’s stock after acquiring an additional 43,369 shares during the quarter. Investment Management Corp of Ontario’s holdings in Gilead Sciences were worth $12,077,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GILD. Janus Henderson Group PLC grew its stake in Gilead Sciences by 5.9% during the 3rd quarter. Janus Henderson Group PLC now owns 1,761,561 shares of the biopharmaceutical company’s stock worth $147,688,000 after purchasing an additional 98,067 shares in the last quarter. Harmony Asset Management LLC boosted its holdings in shares of Gilead Sciences by 16.6% during the third quarter. Harmony Asset Management LLC now owns 4,458 shares of the biopharmaceutical company’s stock worth $374,000 after purchasing an additional 634 shares during the last quarter. HighTower Advisors LLC raised its position in Gilead Sciences by 9.2% in the third quarter. HighTower Advisors LLC now owns 1,780,953 shares of the biopharmaceutical company’s stock valued at $149,385,000 after purchasing an additional 149,923 shares during the period. Hilltop Holdings Inc. increased its position in shares of Gilead Sciences by 1.1% during the third quarter. Hilltop Holdings Inc. now owns 24,156 shares of the biopharmaceutical company’s stock worth $2,025,000 after acquiring an additional 269 shares during the last quarter. Finally, Hollow Brook Wealth Management LLC boosted its stake in Gilead Sciences by 23.2% in the third quarter. Hollow Brook Wealth Management LLC now owns 4,434 shares of the biopharmaceutical company’s stock valued at $372,000 after acquiring an additional 834 shares during the period. 83.67% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Jeffrey Bluestone sold 6,788 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $91.39, for a total value of $620,355.32. Following the sale, the director now directly owns 8,920 shares of the company’s stock, valued at $815,198.80. This represents a 43.21 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Merdad Parsey sold 164,211 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $91.92, for a total transaction of $15,094,275.12. Following the transaction, the insider now owns 80,801 shares in the company, valued at $7,427,227.92. This represents a 67.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 227,946 shares of company stock worth $20,683,305 over the last three months. Insiders own 0.29% of the company’s stock.

Gilead Sciences Price Performance

Shares of NASDAQ GILD opened at $94.00 on Tuesday. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $98.90. The business has a 50 day simple moving average of $88.26 and a 200-day simple moving average of $77.84. The company has a market capitalization of $117.15 billion, a price-to-earnings ratio of 1,044.67, a price-to-earnings-growth ratio of 2.87 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.44. The firm had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.01 billion. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.29 EPS. As a group, equities research analysts expect that Gilead Sciences, Inc. will post 4.37 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date is Friday, December 13th. Gilead Sciences’s dividend payout ratio is presently 3,422.22%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. The Goldman Sachs Group boosted their price target on shares of Gilead Sciences from $74.00 to $84.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. raised their price objective on shares of Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Mizuho lifted their target price on shares of Gilead Sciences from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research note on Thursday, November 7th. Finally, Citigroup began coverage on shares of Gilead Sciences in a research note on Thursday, November 14th. They issued a “buy” rating and a $125.00 price objective on the stock. Twelve investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $95.41.

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, 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.