Connor Clark & Lunn Investment Management Ltd. Sells 205,706 Shares of Gilead Sciences, Inc. $GILD

Connor Clark & Lunn Investment Management Ltd. trimmed its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 97.1% during the second quarter, HoldingsChannel.com reports. The fund owned 6,069 shares of the biopharmaceutical company’s stock after selling 205,706 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Gilead Sciences were worth $673,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GILD. Price T Rowe Associates Inc. MD raised its holdings in shares of Gilead Sciences by 314.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,703,103 shares of the biopharmaceutical company’s stock worth $1,647,484,000 after buying an additional 11,156,382 shares in the last quarter. Nuveen LLC bought a new position in Gilead Sciences in the first quarter valued at about $620,415,000. Kingstone Capital Partners Texas LLC acquired a new position in Gilead Sciences during the second quarter worth about $238,083,000. Vanguard Group Inc. lifted its holdings in shares of Gilead Sciences by 1.7% in the first quarter. Vanguard Group Inc. now owns 117,470,825 shares of the biopharmaceutical company’s stock worth $13,162,606,000 after acquiring an additional 1,942,433 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its stake in shares of Gilead Sciences by 345.7% in the 1st quarter. Mackenzie Financial Corp now owns 2,500,209 shares of the biopharmaceutical company’s stock valued at $280,148,000 after purchasing an additional 1,939,273 shares in the last quarter. 83.67% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Deborah H. Telman sold 53,646 shares of the business’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $122.85, for a total value of $6,590,411.10. Following the transaction, the executive vice president owned 43,676 shares in the company, valued at $5,365,596.60. The trade was a 55.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Andrew D. Dickinson sold 2,500 shares of the stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $125.23, for a total value of $313,075.00. Following the sale, the chief financial officer owned 154,555 shares of the company’s stock, valued at approximately $19,354,922.65. The trade was a 1.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 125,146 shares of company stock worth $15,148,441 over the last quarter. Company insiders own 0.27% of the company’s stock.

Gilead Sciences Stock Up 0.7%

Shares of NASDAQ:GILD opened at $128.07 on Thursday. The firm has a market cap of $158.89 billion, a P/E ratio of 25.51, a P/E/G ratio of 0.81 and a beta of 0.32. Gilead Sciences, Inc. has a 12-month low of $87.77 and a 12-month high of $128.10. The business has a fifty day simple moving average of $118.09 and a 200 day simple moving average of $113.29. The company has a quick ratio of 1.15, a current ratio of 1.32 and a debt-to-equity ratio of 1.13.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Thursday, October 30th. The biopharmaceutical company reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.31. Gilead Sciences had a return on equity of 50.99% and a net margin of 21.86%.The company had revenue of $7.77 billion during the quarter, compared to analysts’ expectations of $7.42 billion. During the same quarter in the prior year, the firm posted $2.02 earnings per share. The business’s quarterly revenue was up 3.0% on a year-over-year basis. Gilead Sciences has set its FY 2025 guidance at 8.050-8.250 EPS. Analysts predict that Gilead Sciences, Inc. will post 7.95 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be issued a dividend of $0.79 per share. The ex-dividend date is Monday, December 15th. This represents a $3.16 annualized dividend and a yield of 2.5%. Gilead Sciences’s dividend payout ratio (DPR) is presently 48.99%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GILD. Wolfe Research increased their price objective on shares of Gilead Sciences from $135.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, October 23rd. JPMorgan Chase & Co. increased their price target on Gilead Sciences from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. Rothschild & Co Redburn raised their price objective on Gilead Sciences from $143.00 to $153.00 in a report on Monday, November 10th. TD Cowen upped their target price on Gilead Sciences from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Finally, Wells Fargo & Company lifted their price target on Gilead Sciences from $140.00 to $145.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $129.13.

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.