Investment Management Corp of Ontario Buys 43,369 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Investment Management Corp of Ontario grew its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 43.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CarsonAllaria Wealth Management Ltd. lifted its holdings in Gilead Sciences by 198.3% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 238 shares during the last quarter. nVerses Capital LLC acquired a new position in Gilead Sciences in the 3rd quarter valued at $25,000. Valued Wealth Advisors LLC boosted its position in Gilead Sciences by 101.9% during the 3rd quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 161 shares during the period. Cedar Wealth Management LLC lifted its holdings in Gilead Sciences by 51.6% in the 2nd quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 160 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in Gilead Sciences during the second quarter worth about $33,000. Institutional investors and hedge funds own 83.67% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on GILD shares. Cantor Fitzgerald increased their target price on shares of Gilead Sciences from $70.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research note on Thursday, November 7th. Sanford C. Bernstein began coverage on shares of Gilead Sciences in a research note on Thursday, October 17th. They issued an “outperform” rating and a $105.00 price target on the stock. Piper Sandler upped their price target on shares of Gilead Sciences from $95.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Finally, Leerink Partnrs raised shares of Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 21st. Twelve investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $95.41.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, insider Merdad Parsey sold 164,211 shares of the company’s stock in a transaction on 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 sale, the insider now directly owns 80,801 shares of the company’s stock, valued at approximately $7,427,227.92. This represents a 67.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jeffrey Bluestone sold 6,788 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $91.39, for a total transaction of $620,355.32. Following the sale, the director now owns 8,920 shares in the company, valued at $815,198.80. The trade was a 43.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 227,946 shares of company stock worth $20,683,305. 0.29% of the stock is owned by insiders.

Gilead Sciences Price Performance

GILD stock opened at $94.00 on Tuesday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.26 and a quick ratio of 1.10. The business has a 50 day simple moving average of $88.26 and a 200-day simple moving average of $77.84. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $98.90. The firm has a market capitalization of $117.15 billion, a PE 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 issued its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.44. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The firm had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.01 billion. During the same period in the previous year, the firm posted $2.29 EPS. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. Equities research analysts anticipate that Gilead Sciences, Inc. will post 4.37 earnings per share for the current fiscal year.

Gilead Sciences Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Friday, December 13th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.28%. Gilead Sciences’s dividend payout ratio is currently 3,422.22%.

Gilead Sciences 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.