Gilead Sciences, Inc. (NASDAQ:GILD) Stake Reduced by GLOBALT Investments LLC GA

GLOBALT Investments LLC GA decreased its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 4.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 40,455 shares of the biopharmaceutical company’s stock after selling 1,992 shares during the period. GLOBALT Investments LLC GA’s holdings in Gilead Sciences were worth $3,392,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Capital World Investors grew its position in Gilead Sciences by 1.4% in the first quarter. Capital World Investors now owns 84,497,404 shares of the biopharmaceutical company’s stock worth $6,189,435,000 after buying an additional 1,133,281 shares during the last quarter. Capital Research Global Investors boosted its position in Gilead Sciences by 2.7% during the 1st quarter. Capital Research Global Investors now owns 61,246,366 shares of the biopharmaceutical company’s stock worth $4,486,296,000 after acquiring an additional 1,589,240 shares during the period. Legal & General Group Plc grew its position in Gilead Sciences by 0.8% during the second quarter. Legal & General Group Plc now owns 12,414,268 shares of the biopharmaceutical company’s stock valued at $851,743,000 after purchasing an additional 93,068 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Gilead Sciences by 2.6% during the second quarter. Dimensional Fund Advisors LP now owns 10,412,413 shares of the biopharmaceutical company’s stock worth $714,421,000 after acquiring an additional 268,208 shares in the last quarter. Finally, Pacer Advisors Inc. increased its position in Gilead Sciences by 24.7% in the 2nd quarter. Pacer Advisors Inc. now owns 7,889,663 shares of the biopharmaceutical company’s stock worth $541,310,000 after purchasing an additional 1,564,792 shares during the last quarter. Institutional investors and hedge funds own 83.67% of the company’s stock.

Insider Activity

In other news, insider Johanna Mercier sold 29,357 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $83.78, for a total value of $2,459,529.46. Following the completion of the sale, the insider now directly owns 78,127 shares of the company’s stock, valued at $6,545,480.06. This trade represents a 27.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total transaction of $167,660.00. Following the completion of the transaction, the insider now owns 100,189 shares in the company, valued at approximately $8,398,843.87. This represents a 1.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 56,947 shares of company stock valued at $4,968,674. 0.16% of the stock is owned by insiders.

Gilead Sciences Price Performance

NASDAQ GILD opened at $88.40 on Monday. Gilead Sciences, Inc. has a 12-month low of $62.07 and a 12-month high of $98.90. The firm’s 50 day moving average is $86.68 and its 200-day moving average is $76.11. The company has a market capitalization of $110.17 billion, a PE ratio of 982.22, a price-to-earnings-growth ratio of 2.72 and a beta of 0.17. The company has a quick ratio of 0.82, a current ratio of 1.26 and a debt-to-equity ratio of 1.24.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.44. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The company had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.01 billion. During the same period in the prior year, the business posted $2.29 EPS. The company’s quarterly revenue was up 7.0% on a year-over-year basis. Equities research analysts anticipate that Gilead Sciences, Inc. will post 4.38 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date of this dividend is Friday, December 13th. Gilead Sciences’s dividend payout ratio is currently 3,422.22%.

Wall Street Analyst Weigh In

GILD has been the topic of a number of recent analyst reports. Leerink Partners raised Gilead Sciences from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $74.00 to $96.00 in a research note on Monday, October 21st. Wolfe Research initiated coverage on Gilead Sciences in a research note on Friday. They set an “outperform” rating and a $110.00 price target on the stock. JPMorgan Chase & Co. lifted their price target on shares of Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Evercore ISI upgraded Gilead Sciences to a “strong-buy” rating in a research report on Friday, August 9th. Finally, Oppenheimer increased their target price on Gilead Sciences from $95.00 to $105.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Eleven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $93.86.

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.