Gilead Sciences, Inc. (NASDAQ:GILD) Shares Purchased by Cornell Pochily Investment Advisors Inc.

Cornell Pochily Investment Advisors Inc. raised its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 12.6% during the fourth quarter, HoldingsChannel reports. The firm owned 14,708 shares of the biopharmaceutical company’s stock after purchasing an additional 1,642 shares during the quarter. Cornell Pochily Investment Advisors Inc.’s holdings in Gilead Sciences were worth $1,192,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp boosted its holdings in shares of Gilead Sciences by 2.6% in the 2nd quarter. State Street Corp now owns 59,317,162 shares of the biopharmaceutical company’s stock valued at $4,571,574,000 after acquiring an additional 1,514,894 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Gilead Sciences by 324.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 18,002,214 shares of the biopharmaceutical company’s stock valued at $1,070,232,000 after purchasing an additional 13,764,169 shares in the last quarter. Morgan Stanley lifted its position in shares of Gilead Sciences by 11.5% during the 4th quarter. Morgan Stanley now owns 17,196,950 shares of the biopharmaceutical company’s stock valued at $1,476,358,000 after buying an additional 1,780,489 shares in the last quarter. Renaissance Technologies LLC raised its position in Gilead Sciences by 70.6% during the first quarter. Renaissance Technologies LLC now owns 15,492,116 shares of the biopharmaceutical company’s stock worth $921,006,000 after acquiring an additional 6,410,047 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Gilead Sciences by 14.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 15,421,436 shares of the biopharmaceutical company’s stock worth $951,350,000 after purchasing an additional 1,987,058 shares during the last quarter. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Gilead Sciences

In related news, insider Johanna Mercier sold 8,242 shares of the company’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $85.23, for a total transaction of $702,465.66. Following the transaction, the insider now owns 82,729 shares of the company’s stock, valued at $7,050,992.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Gilead Sciences news, insider Johanna Mercier sold 8,242 shares of the company’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $85.23, for a total value of $702,465.66. Following the sale, the insider now owns 82,729 shares of the company’s stock, valued at $7,050,992.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Merdad Parsey sold 2,000 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $73.18, for a total value of $146,360.00. Following the sale, the insider now owns 100,936 shares in the company, valued at approximately $7,386,496.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,242 shares of company stock worth $1,277,726. Company insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

GILD has been the topic of several research reports. Royal Bank of Canada decreased their target price on Gilead Sciences from $76.00 to $75.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 14th. Wells Fargo & Company cut 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 report on Monday, March 4th. StockNews.com upgraded Gilead Sciences from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Truist Financial lowered Gilead Sciences from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $91.00 to $82.00 in a research note on Thursday, February 22nd. Finally, Cantor Fitzgerald reduced their price target on shares of Gilead Sciences from $80.00 to $78.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $85.36.

Gilead Sciences Stock Up 0.6 %

NASDAQ:GILD traded up $0.41 during midday trading on Thursday, reaching $73.42. The company had a trading volume of 1,045,274 shares, compared to its average volume of 7,491,144. The stock’s fifty day simple moving average is $75.38 and its 200-day simple moving average is $77.32. The company has a current ratio of 1.43, a quick ratio of 1.27 and a debt-to-equity ratio of 1.08. Gilead Sciences, Inc. has a 12-month low of $71.37 and a 12-month high of $87.86. The firm has a market capitalization of $91.41 billion, a price-to-earnings ratio of 16.38, a PEG ratio of 0.92 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Tuesday, February 6th. The biopharmaceutical company reported $1.72 earnings per share for the quarter, missing analysts’ consensus estimates of $1.76 by ($0.04). The business had revenue of $7.12 billion during the quarter, compared to analyst estimates of $7.10 billion. Gilead Sciences had a net margin of 20.89% and a return on equity of 38.85%. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.67 earnings per share. On average, sell-side analysts anticipate that Gilead Sciences, Inc. will post 7.07 earnings per share for the current fiscal year.

Gilead Sciences Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Friday, March 15th will be paid a $0.77 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This is a positive change from Gilead Sciences’s previous quarterly dividend of $0.75. This represents a $3.08 dividend on an annualized basis and a yield of 4.20%. Gilead Sciences’s payout ratio is currently 68.44%.

About Gilead Sciences

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.