CCM Investment Advisers LLC Has $10.08 Million Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

CCM Investment Advisers LLC trimmed its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 1.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 134,822 shares of the biopharmaceutical company’s stock after selling 1,676 shares during the period. Gilead Sciences makes up approximately 2.0% of CCM Investment Advisers LLC’s investment portfolio, making the stock its 21st largest position. CCM Investment Advisers LLC’s holdings in Gilead Sciences were worth $10,079,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Capital Research Global Investors grew its stake in Gilead Sciences by 12.7% during the first quarter. Capital Research Global Investors now owns 95,982,319 shares of the biopharmaceutical company’s stock worth $7,175,643,000 after buying an additional 10,849,434 shares in the last quarter. Capital International Investors lifted its holdings in shares of Gilead Sciences by 336.8% in the first quarter. Capital International Investors now owns 56,369,657 shares of the biopharmaceutical company’s stock worth $4,214,200,000 after acquiring an additional 43,464,551 shares during the last quarter. Capital World Investors lifted its holdings in shares of Gilead Sciences by 123.0% in the first quarter. Capital World Investors now owns 46,331,318 shares of the biopharmaceutical company’s stock worth $3,463,732,000 after acquiring an additional 25,555,467 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Gilead Sciences by 3.1% in the fourth quarter. Bank of New York Mellon Corp now owns 29,067,984 shares of the biopharmaceutical company’s stock worth $1,888,838,000 after acquiring an additional 870,944 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Gilead Sciences by 3.4% in the first quarter. Geode Capital Management LLC now owns 19,882,508 shares of the biopharmaceutical company’s stock worth $1,484,311,000 after acquiring an additional 658,471 shares during the last quarter. Hedge funds and other institutional investors own 80.15% of the company’s stock.

In related news, Director John Francis Cogan sold 2,413 shares of Gilead Sciences stock in a transaction on Monday, April 6th. The shares were sold at an average price of $79.52, for a total value of $191,881.76. Following the completion of the sale, the director now owns 57,273 shares of the company’s stock, valued at approximately $4,554,348.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Diane E. Wilfong sold 12,264 shares of Gilead Sciences stock in a transaction on Monday, May 4th. The shares were sold at an average price of $80.09, for a total transaction of $982,223.76. Following the completion of the sale, the chief accounting officer now directly owns 23,685 shares of the company’s stock, valued at approximately $1,896,931.65. The disclosure for this sale can be found here. In the last three months, insiders sold 39,955 shares of company stock valued at $3,176,286. 0.13% of the stock is currently owned by insiders.

Shares of GILD stock traded down $0.62 during trading hours on Tuesday, hitting $75.05. 6,430,256 shares of the company were exchanged, compared to its average volume of 18,868,795. The firm has a market cap of $94.91 billion, a P/E ratio of 19.29, a P/E/G ratio of 3.50 and a beta of 0.68. Gilead Sciences, Inc. has a fifty-two week low of $60.89 and a fifty-two week high of $85.97. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.92 and a current ratio of 3.04. The company has a 50 day simple moving average of $75.96 and a two-hundred day simple moving average of $71.69.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Thursday, April 30th. The biopharmaceutical company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.57 by $0.11. The company had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.44 billion. Gilead Sciences had a net margin of 21.84% and a return on equity of 35.44%. The company’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.67 EPS. As a group, sell-side analysts expect that Gilead Sciences, Inc. will post 6.4 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, June 12th will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 3.62%. The ex-dividend date is Thursday, June 11th. Gilead Sciences’s payout ratio is currently 44.30%.

A number of research analysts have recently commented on the stock. Robert W. Baird reissued a “hold” rating and issued a $75.00 target price on shares of Gilead Sciences in a report on Thursday, May 21st. Morgan Stanley increased their target price on shares of Gilead Sciences from $75.00 to $77.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. ValuEngine cut shares of Gilead Sciences from a “hold” rating to a “sell” rating in a report on Friday, May 1st. Piper Sandler reissued a “buy” rating and issued a $90.00 target price on shares of Gilead Sciences in a report on Monday, June 8th. Finally, Cantor Fitzgerald increased their target price on shares of Gilead Sciences from $78.00 to $86.00 and gave the stock an “overweight” rating in a report on Tuesday, April 7th. Five analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and ten have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $79.62.

About Gilead Sciences

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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Institutional Ownership by Quarter for Gilead Sciences (NASDAQ:GILD)

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