Gilead Sciences, Inc. (NASDAQ:GILD) Shares Purchased by Allstate Corp

Allstate Corp boosted its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 4.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,062 shares of the biopharmaceutical company’s stock after purchasing an additional 183 shares during the quarter. Allstate Corp’s holdings in Gilead Sciences were worth $329,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. Morgan Stanley boosted its position in shares of Gilead Sciences by 0.9% in the third quarter. Morgan Stanley now owns 16,909,619 shares of the biopharmaceutical company’s stock worth $1,267,207,000 after buying an additional 158,794 shares during the period. Norges Bank purchased a new position in Gilead Sciences in the fourth quarter valued at about $1,301,624,000. Northern Trust Corp boosted its holdings in Gilead Sciences by 3.5% in the third quarter. Northern Trust Corp now owns 14,922,488 shares of the biopharmaceutical company’s stock valued at $1,118,291,000 after purchasing an additional 504,475 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Gilead Sciences by 3.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,783,195 shares of the biopharmaceutical company’s stock valued at $792,547,000 after purchasing an additional 287,080 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Gilead Sciences by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,281,489 shares of the biopharmaceutical company’s stock worth $589,873,000 after buying an additional 87,482 shares during the last quarter. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GILD has been the topic of a number of research analyst reports. Barclays reduced their target price on Gilead Sciences from $80.00 to $76.00 and set an “equal weight” rating on the stock in a report on Monday, April 29th. HSBC upgraded Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 price target on the stock in a research report on Wednesday, April 24th. Maxim Group dropped their price target on Gilead Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Morgan Stanley dropped their price target on Gilead Sciences from $80.00 to $78.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Finally, Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a research report on Friday, April 26th. Eleven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $83.69.

Gilead Sciences Price Performance

Shares of GILD traded down $0.57 during trading hours on Friday, hitting $65.60. 1,199,383 shares of the company were exchanged, compared to its average volume of 7,190,798. The company has a market capitalization of $81.73 billion, a PE ratio of 182.83, a PEG ratio of 1.36 and a beta of 0.22. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.08 and a quick ratio of 0.94. The firm has a fifty day simple moving average of $68.61 and a 200-day simple moving average of $74.64. Gilead Sciences, Inc. has a one year low of $64.33 and a one year high of $87.86.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share for the quarter, topping the consensus estimate of ($1.49) by $0.17. The business had revenue of $6.69 billion during the quarter, compared to analyst estimates of $6.36 billion. Gilead Sciences had a return on equity of 24.34% and a net margin of 1.76%. The company’s revenue was up 5.3% compared to the same quarter last year. During the same period last year, the company posted $1.37 EPS. As a group, sell-side analysts predict that Gilead Sciences, Inc. will post 3.74 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, June 14th will be paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 4.70%. The ex-dividend date is Friday, June 14th. Gilead Sciences’s dividend payout ratio is presently 855.56%.

Insider Transactions at Gilead Sciences

In other news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $73.18, for a total value of $146,360.00. Following the completion of the sale, the insider now owns 100,936 shares of the company’s stock, valued at $7,386,496.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.16% of the stock is currently owned by insiders.

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.