Horizon Investments LLC Trims Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Horizon Investments LLC trimmed its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 5.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,971 shares of the biopharmaceutical company’s stock after selling 1,854 shares during the quarter. Horizon Investments LLC’s holdings in Gilead Sciences were worth $2,861,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. State Street Corp raised its stake in shares of Gilead Sciences by 1.4% in the third quarter. State Street Corp now owns 60,171,691 shares of the biopharmaceutical company’s stock worth $5,044,795,000 after purchasing an additional 841,776 shares during the last quarter. Wellington Management Group LLP raised its position in Gilead Sciences by 50.9% during the third quarter. Wellington Management Group LLP now owns 34,600,676 shares of the biopharmaceutical company’s stock valued at $2,900,921,000 after acquiring an additional 11,665,593 shares in the last quarter. FMR LLC raised its position in Gilead Sciences by 79.4% during the third quarter. FMR LLC now owns 33,162,319 shares of the biopharmaceutical company’s stock valued at $2,780,329,000 after acquiring an additional 14,680,161 shares in the last quarter. Geode Capital Management LLC raised its position in Gilead Sciences by 2.1% during the third quarter. Geode Capital Management LLC now owns 27,540,870 shares of the biopharmaceutical company’s stock valued at $2,302,119,000 after acquiring an additional 574,421 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Gilead Sciences by 3.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,002,779 shares of the biopharmaceutical company’s stock valued at $739,217,000 after acquiring an additional 249,804 shares in the last quarter. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Andrew D. Dickinson sold 2,500 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $91.35, for a total value of $228,375.00. Following the transaction, the chief financial officer now owns 129,873 shares of the company’s stock, valued at $11,863,898.55. This represents a 1.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 302,785 shares of company stock valued at $30,503,250 in the last quarter. Insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on GILD shares. JPMorgan Chase & Co. lifted their price target on Gilead Sciences from $105.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Cantor Fitzgerald reiterated a “neutral” rating and set a $80.00 price target on shares of Gilead Sciences in a research report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft upgraded Gilead Sciences from a “hold” rating to a “buy” rating and lifted their price target for the company from $80.00 to $120.00 in a research report on Tuesday, February 18th. Bank of America boosted their price objective on Gilead Sciences from $116.00 to $126.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Finally, Oppenheimer boosted their price objective on Gilead Sciences from $115.00 to $132.00 and gave the company an “outperform” rating in a research report on Tuesday, March 4th. Eleven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $104.52.

Gilead Sciences Stock Performance

NASDAQ GILD opened at $110.23 on Wednesday. The stock’s fifty day moving average is $102.63 and its two-hundred day moving average is $93.38. The firm has a market capitalization of $137.27 billion, a P/E ratio of 297.92, a price-to-earnings-growth ratio of 0.71 and a beta of 0.21. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.20 and a current ratio of 1.50. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $119.96.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.23. Gilead Sciences had a return on equity of 31.63% and a net margin of 1.67%. On average, research analysts anticipate that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Gilead Sciences’s previous quarterly dividend of $0.77. Gilead Sciences’s dividend payout ratio is 854.05%.

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.