MetLife Investment Management LLC Sells 8,561 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

MetLife Investment Management LLC lowered its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 2.6% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 323,789 shares of the biopharmaceutical company’s stock after selling 8,561 shares during the period. MetLife Investment Management LLC’s holdings in Gilead Sciences were worth $27,146,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Avior Wealth Management LLC raised its position in Gilead Sciences by 1.2% in the 3rd quarter. Avior Wealth Management LLC now owns 9,422 shares of the biopharmaceutical company’s stock worth $782,000 after purchasing an additional 108 shares during the period. Concord Asset Management LLC VA grew its stake in shares of Gilead Sciences by 3.8% during the third quarter. Concord Asset Management LLC VA now owns 3,056 shares of the biopharmaceutical company’s stock valued at $256,000 after buying an additional 111 shares during the last quarter. TFB Advisors LLC raised its holdings in shares of Gilead Sciences by 1.2% in the third quarter. TFB Advisors LLC now owns 9,397 shares of the biopharmaceutical company’s stock worth $788,000 after buying an additional 116 shares during the period. Sumitomo Life Insurance Co. lifted its stake in shares of Gilead Sciences by 0.7% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 17,822 shares of the biopharmaceutical company’s stock worth $1,494,000 after acquiring an additional 117 shares during the last quarter. Finally, FDx Advisors Inc. boosted its holdings in Gilead Sciences by 2.2% during the 3rd quarter. FDx Advisors Inc. now owns 5,365 shares of the biopharmaceutical company’s stock valued at $450,000 after acquiring an additional 117 shares during the period. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Wall Street Analysts Forecast Growth

GILD has been the topic of a number of recent analyst reports. BMO Capital Markets increased their target price on Gilead Sciences from $94.00 to $102.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Barclays raised their price target on shares of Gilead Sciences from $84.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. Piper Sandler boosted their price objective on shares of Gilead Sciences from $95.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Oppenheimer raised their target price on shares of Gilead Sciences from $95.00 to $105.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, Evercore ISI raised Gilead Sciences to a “strong-buy” rating in a research note on Friday, August 9th. Twelve research analysts have rated the stock with a hold rating, eleven have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $95.41.

Insider Buying and Selling

In other Gilead Sciences news, insider Merdad Parsey sold 25,590 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the completion of the transaction, the insider now directly owns 99,599 shares of the company’s stock, valued at approximately $9,113,308.50. This trade represents a 20.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Johanna Mercier sold 29,357 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the completion of the sale, the insider now directly owns 78,127 shares in the company, valued at $6,545,480.06. This trade represents a 27.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 56,947 shares of company stock worth $4,968,674 in the last 90 days. Insiders own 0.29% of the company’s stock.

Gilead Sciences Stock Up 0.6 %

NASDAQ GILD traded up $0.52 during trading on Wednesday, hitting $91.87. The company’s stock had a trading volume of 143,311 shares, compared to its average volume of 7,054,696. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $98.90. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.26 and a quick ratio of 1.10. The company has a market cap of $114.49 billion, a PE ratio of 1,015.00, a P/E/G ratio of 2.81 and a beta of 0.17. The business’s 50 day simple moving average is $87.74 and its 200-day simple moving average is $77.31.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.44. The company had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.01 billion. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. Gilead Sciences’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period last year, the business earned $2.29 EPS. On average, equities analysts anticipate that Gilead Sciences, Inc. will post 4.37 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be paid a $0.77 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.08 dividend on an annualized basis and a yield of 3.35%. Gilead Sciences’s dividend payout ratio (DPR) is 3,422.22%.

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.