Kornitzer Capital Management Inc. KS Sells 5,189 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Kornitzer Capital Management Inc. KS decreased its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 1.4% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 354,514 shares of the biopharmaceutical company’s stock after selling 5,189 shares during the period. Gilead Sciences makes up about 0.8% of Kornitzer Capital Management Inc. KS’s holdings, making the stock its 29th biggest holding. Kornitzer Capital Management Inc. KS’s holdings in Gilead Sciences were worth $39,723,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in GILD. Smallwood Wealth Investment Management LLC bought a new stake in Gilead Sciences during the 1st quarter valued at $25,000. Goodman Advisory Group LLC bought a new stake in Gilead Sciences during the 1st quarter valued at $29,000. Annis Gardner Whiting Capital Advisors LLC raised its holdings in Gilead Sciences by 158.8% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 352 shares of the biopharmaceutical company’s stock valued at $33,000 after buying an additional 216 shares during the last quarter. Core Alternative Capital raised its holdings in Gilead Sciences by 370.8% during the 1st quarter. Core Alternative Capital now owns 306 shares of the biopharmaceutical company’s stock valued at $34,000 after buying an additional 241 shares during the last quarter. Finally, Lee Danner & Bass Inc. bought a new stake in Gilead Sciences during the 4th quarter valued at $41,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Gilead Sciences Trading Up 2.2%

Shares of NASDAQ GILD opened at $112.09 on Tuesday. The firm’s 50 day moving average price is $107.93 and its 200-day moving average price is $104.88. The company has a market cap of $139.43 billion, a PE ratio of 23.60, a P/E/G ratio of 0.71 and a beta of 0.29. Gilead Sciences, Inc. has a 52-week low of $70.21 and a 52-week high of $119.96. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.23 and a current ratio of 1.37.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.04. The firm had revenue of $6.67 billion for the quarter, compared to the consensus estimate of $6.77 billion. Gilead Sciences had a net margin of 20.76% and a return on equity of 51.93%. The business’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.32) EPS. On average, equities research analysts expect that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date of this dividend was Friday, June 13th. Gilead Sciences’s payout ratio is presently 66.53%.

Wall Street Analyst Weigh In

Several research analysts have commented on GILD shares. Morgan Stanley upped their price objective on shares of Gilead Sciences from $130.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, April 25th. Cantor Fitzgerald started coverage on shares of Gilead Sciences in a report on Tuesday, April 22nd. They issued an “overweight” rating and a $125.00 price objective for the company. JPMorgan Chase & Co. upped their price objective on shares of Gilead Sciences from $120.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday, March 27th. Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a report on Wednesday, May 21st. Finally, Oppenheimer decreased their price target on shares of Gilead Sciences from $132.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. Nine analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Gilead Sciences has a consensus rating of “Moderate Buy” and a consensus target price of $111.38.

Insider Activity

In other news, CFO Andrew D. Dickinson sold 2,500 shares of the firm’s stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $110.17, for a total transaction of $275,425.00. Following the sale, the chief financial officer owned 165,110 shares of the company’s stock, valued at $18,190,168.70. This trade represents a 1.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Johanna Mercier sold 3,000 shares of the firm’s stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $110.17, for a total transaction of $330,510.00. Following the sale, the insider directly owned 120,168 shares in the company, valued at approximately $13,238,908.56. The trade was a 2.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,000 shares of company stock valued at $6,074,745 in the last 90 days. 0.27% of the stock is currently owned by insiders.

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.