Panagora Asset Management Inc. Increases Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Panagora Asset Management Inc. increased its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 5.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 872,959 shares of the biopharmaceutical company’s stock after purchasing an additional 43,282 shares during the quarter. Panagora Asset Management Inc.’s holdings in Gilead Sciences were worth $56,419,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. BlackRock Inc. lifted its position in shares of Gilead Sciences by 12.2% during the 1st quarter. BlackRock Inc. now owns 124,723,133 shares of the biopharmaceutical company’s stock worth $8,060,854,000 after buying an additional 13,539,799 shares during the last quarter. Dodge & Cox lifted its position in Gilead Sciences by 35.7% in the fourth quarter. Dodge & Cox now owns 17,107,888 shares of the biopharmaceutical company’s stock valued at $996,706,000 after acquiring an additional 4,500,035 shares during the last quarter. Norges Bank acquired a new position in Gilead Sciences in the fourth quarter valued at $767,548,000. UBS Asset Management Americas Inc. boosted its stake in Gilead Sciences by 4.6% in the fourth quarter. UBS Asset Management Americas Inc. now owns 8,997,053 shares of the biopharmaceutical company’s stock valued at $524,168,000 after acquiring an additional 392,859 shares in the last quarter. Finally, Morgan Stanley increased its position in shares of Gilead Sciences by 18.4% during the fourth quarter. Morgan Stanley now owns 7,124,342 shares of the biopharmaceutical company’s stock worth $415,063,000 after purchasing an additional 1,106,826 shares in the last quarter. 77.18% of the stock is currently owned by institutional investors.

Several research firms have commented on GILD. Jefferies Financial Group reaffirmed a “buy” rating and set a $80.00 price target on shares of Gilead Sciences in a research report on Friday, May 7th. Morgan Stanley upped their price target on shares of Gilead Sciences from $81.00 to $83.00 and gave the company an “overweight” rating in a research report on Monday, May 3rd. Redburn Partners upgraded shares of Gilead Sciences from a “neutral” rating to a “buy” rating in a research note on Tuesday, March 30th. TheStreet upgraded shares of Gilead Sciences from a “c” rating to a “b-” rating in a research note on Tuesday, March 30th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research note on Friday, April 30th. Ten analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $99.22.

Shares of GILD traded down $0.43 on Friday, hitting $68.86. 42,215 shares of the stock traded hands, compared to its average volume of 8,028,339. Gilead Sciences, Inc. has a 1 year low of $56.56 and a 1 year high of $78.94. The firm has a 50 day moving average price of $66.52. The stock has a market cap of $86.36 billion, a price-to-earnings ratio of 301.27, a P/E/G ratio of 0.62 and a beta of 0.38. The company has a quick ratio of 1.18, a current ratio of 1.37 and a debt-to-equity ratio of 1.55.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Thursday, April 29th. The biopharmaceutical company reported $2.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.06 by $0.02. Gilead Sciences had a return on equity of 51.91% and a net margin of 1.18%. The company had revenue of $6.42 billion during the quarter, compared to the consensus estimate of $6.78 billion. On average, sell-side analysts expect that Gilead Sciences, Inc. will post 7.07 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 29th. Investors of record on Tuesday, June 15th will be given a dividend of $0.71 per share. The ex-dividend date is Monday, June 14th. This represents a $2.84 annualized dividend and a yield of 4.12%. Gilead Sciences’s dividend payout ratio (DPR) is presently 40.06%.

In other Gilead Sciences news, Director Richard James Whitley sold 20,282 shares of Gilead Sciences stock in a transaction dated Monday, May 3rd. The stock was sold at an average price of $64.57, for a total value of $1,309,608.74. Following the completion of the sale, the director now owns 51,404 shares in the company, valued at approximately $3,319,156.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.12% of the stock is currently owned by company insiders.

Gilead Sciences Company Profile

Gilead Sciences, Inc, a research-based 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, and Atripla products for the treatment of human immunodeficiency virus (HIV) infection; Veklury, an injection for intravenous use, for the treatment of coronavirus disease 2019; and Epclusa, Harvoni, Vosevi, Vemlidy, and Viread for the treatment of liver diseases.

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

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