Covington Capital Management reduced its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 14.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 19,720 shares of the biopharmaceutical company’s stock after selling 3,455 shares during the period. Covington Capital Management’s holdings in Gilead Sciences were worth $1,281,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GILD. Valueworks LLC raised its stake in Gilead Sciences by 7,777.5% during the 4th quarter. Valueworks LLC now owns 4,919,000 shares of the biopharmaceutical company’s stock valued at $6,146,000 after buying an additional 4,856,556 shares during the last quarter. AQR Capital Management LLC raised its stake in Gilead Sciences by 59.2% during the 4th quarter. AQR Capital Management LLC now owns 7,208,716 shares of the biopharmaceutical company’s stock valued at $464,529,000 after buying an additional 2,682,046 shares during the last quarter. Renaissance Technologies LLC raised its stake in Gilead Sciences by 15.1% during the 4th quarter. Renaissance Technologies LLC now owns 16,962,944 shares of the biopharmaceutical company’s stock valued at $1,102,252,000 after buying an additional 2,228,686 shares during the last quarter. AJO LP raised its stake in Gilead Sciences by 367.5% during the 4th quarter. AJO LP now owns 1,185,681 shares of the biopharmaceutical company’s stock valued at $77,044,000 after buying an additional 932,045 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Gilead Sciences by 3.1% during the 4th quarter. Bank of New York Mellon Corp now owns 29,067,984 shares of the biopharmaceutical company’s stock valued at $1,888,838,000 after buying an additional 870,944 shares during the last quarter. Institutional investors own 80.32% of the company’s stock.

A number of equities research analysts have weighed in on GILD shares. Barclays started coverage on shares of Gilead Sciences in a research note on Thursday, February 27th. They set an “underweight” rating and a $62.00 target price for the company. Maxim Group reiterated a “hold” rating on shares of Gilead Sciences in a research note on Sunday, February 9th. Guggenheim lowered shares of Gilead Sciences from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 21st. Bank of America upped their price objective on Gilead Sciences from $70.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Finally, Raymond James lowered Gilead Sciences from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the stock from $81.00 to $80.00 in a research note on Wednesday, February 5th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $78.08.

Shares of Gilead Sciences stock opened at $69.66 on Thursday. The company has a market capitalization of $93.46 billion, a P/E ratio of 16.55, a P/E/G ratio of 5.79 and a beta of 0.99. The company has a debt-to-equity ratio of 1.02, a quick ratio of 3.01 and a current ratio of 3.10. The company has a fifty day moving average of $71.37 and a 200 day moving average of $66.57. Gilead Sciences, Inc. has a fifty-two week low of $60.89 and a fifty-two week high of $85.97.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Tuesday, February 4th. The biopharmaceutical company reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.67 by ($0.37). The firm had revenue of $5.88 billion during the quarter, compared to the consensus estimate of $5.74 billion. Gilead Sciences had a return on equity of 35.49% and a net margin of 23.99%. The company’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.44 EPS. Analysts forecast that Gilead Sciences, Inc. will post 6.03 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Friday, March 13th will be issued a $0.68 dividend. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $2.72 annualized dividend and a yield of 3.90%. This is an increase from Gilead Sciences’s previous quarterly dividend of $0.63. Gilead Sciences’s dividend payout ratio is currently 44.30%.

In related news, Director Olsen Per Wold sold 20,282 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $69.00, for a total value of $1,399,458.00. Following the completion of the transaction, the director now owns 119,574 shares of the company’s stock, valued at approximately $8,250,606. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Brett A. Pletcher sold 2,950 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $64.63, for a total transaction of $190,658.50. Following the completion of the transaction, the executive vice president now directly owns 20,014 shares of the company’s stock, valued at approximately $1,293,504.82. The disclosure for this sale can be found here. Insiders sold a total of 73,532 shares of company stock valued at $5,101,386 in the last ninety days. 0.20% of the stock is currently owned by insiders.

Gilead Sciences Profile

Gilead Sciences, Inc, a research-based biopharmaceutical company, discovers, develops, and commercializes medicines in the areas of unmet medical needs in the United States, Europe, and internationally. The company's products include Biktarvy, Descovy, Odefsey, Genvoya, Stribild, Complera/Eviplera, Atripla, and Truvada for the treatment of human immunodeficiency virus (HIV) infection in adults; and Vosevi, Vemlidy, Epclusa, Harvoni, and Viread products for treating liver diseases.

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

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