M&T Bank Corp Has $13.98 Million Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

M&T Bank Corp lessened its holdings in Gilead Sciences, Inc. (NASDAQ:GILD – Get Rating) by 3.9% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 226,624 shares of the biopharmaceutical company’s stock after selling 9,178 shares during the period. M&T Bank Corp’s holdings in Gilead Sciences were worth $13,980,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of GILD. Arrowstreet Capital Limited Partnership raised its stake in Gilead Sciences by 324.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 18,002,214 shares of the biopharmaceutical company’s stock worth $1,070,232,000 after buying an additional 13,764,169 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Gilead Sciences by 70.6% during the 1st quarter. Renaissance Technologies LLC now owns 15,492,116 shares of the biopharmaceutical company’s stock worth $921,006,000 after acquiring an additional 6,410,047 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Gilead Sciences by 124.8% during the 2nd quarter. AQR Capital Management LLC now owns 6,095,793 shares of the biopharmaceutical company’s stock valued at $375,562,000 after purchasing an additional 3,383,767 shares during the period. Bank of New York Mellon Corp raised its position in shares of Gilead Sciences by 14.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 15,421,436 shares of the biopharmaceutical company’s stock valued at $951,350,000 after purchasing an additional 1,987,058 shares during the period. Finally, Ensign Peak Advisors Inc increased its holdings in Gilead Sciences by 66.5% in the 3rd quarter. Ensign Peak Advisors Inc now owns 4,484,769 shares of the biopharmaceutical company’s stock valued at $276,665,000 after acquiring an additional 1,790,559 shares during the last quarter. Institutional investors own 78.72% of the company’s stock.

Gilead Sciences Stock Down 0.2 %

Shares of Gilead Sciences stock opened at $79.65 on Thursday. The firm has a market cap of $99.33 billion, a P/E ratio of 21.82, a P/E/G ratio of 0.95 and a beta of 0.38. The business has a 50-day moving average price of $83.53 and a 200 day moving average price of $78.29. Gilead Sciences, Inc. has a fifty-two week low of $57.17 and a fifty-two week high of $89.74. The company has a quick ratio of 1.15, a current ratio of 1.29 and a debt-to-equity ratio of 1.14.

Gilead Sciences (NASDAQ:GILD – Get Rating) last issued its quarterly earnings data on Thursday, February 2nd. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.17. The business had revenue of $7.39 billion during the quarter, compared to the consensus estimate of $6.63 billion. Gilead Sciences had a return on equity of 44.46% and a net margin of 16.83%. The business’s revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.69 earnings per share. On average, sell-side analysts forecast that Gilead Sciences, Inc. will post 6.84 earnings per share for the current fiscal year.

Gilead Sciences Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 30th. Stockholders of record on Wednesday, March 15th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date is Tuesday, March 14th. This is an increase from Gilead Sciences’s previous quarterly dividend of $0.73. Gilead Sciences’s dividend payout ratio is 80.00%.

Insider Buying and Selling at Gilead Sciences

In other news, insider Merdad Parsey sold 12,984 shares of the company’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $79.96, for a total value of $1,038,200.64. Following the transaction, the insider now directly owns 70,130 shares of the company’s stock, valued at $5,607,594.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on GILD shares. Barclays lifted their price target on shares of Gilead Sciences from $76.00 to $84.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 18th. Oppenheimer upped their price objective on shares of Gilead Sciences from $95.00 to $105.00 in a report on Thursday, December 1st. Robert W. Baird increased their price target on shares of Gilead Sciences from $69.00 to $80.00 in a report on Friday, February 3rd. Morgan Stanley increased their price target on shares of Gilead Sciences from $80.00 to $81.00 and gave the stock an “equal weight” rating in a report on Friday, February 3rd. Finally, SVB Leerink upped their price objective on shares of Gilead Sciences from $81.00 to $91.00 and gave the stock a “market perform” rating in a research report on Friday, February 3rd. Nine research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $89.40.

About Gilead Sciences

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Gilead Sciences, Inc is a biopharmaceutical company, which engages in the research, development, and commercialization of medicines in areas of unmet medical need. The firm’s primary areas of focus include human immunodeficiency virus, acquired immunodeficiency syndrome, liver diseases, hematology, oncology, and inflammation and respiratory diseases.