Everence Capital Management Inc. Lowers Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Everence Capital Management Inc. cut its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 13.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 34,260 shares of the biopharmaceutical company’s stock after selling 5,390 shares during the quarter. Everence Capital Management Inc.’s holdings in Gilead Sciences were worth $2,872,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. CarsonAllaria Wealth Management Ltd. boosted its position in shares of Gilead Sciences by 198.3% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 238 shares during the last quarter. nVerses Capital LLC acquired a new position in shares of Gilead Sciences in the 3rd quarter valued at $25,000. Palisade Asset Management LLC purchased a new stake in shares of Gilead Sciences during the 1st quarter valued at $29,000. Cedar Wealth Management LLC increased its holdings in shares of Gilead Sciences by 51.6% during the 2nd quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 160 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new position in shares of Gilead Sciences in the 2nd quarter worth $33,000. 83.67% of the stock is owned by institutional investors and hedge funds.

Gilead Sciences Stock Down 0.6 %

GILD traded down $0.56 during trading on Monday, hitting $86.16. The company had a trading volume of 1,469,130 shares, compared to its average volume of 7,052,677. The company has a market cap of $107.34 billion, a PE ratio of 240.89, a P/E/G ratio of 2.98 and a beta of 0.18. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.14 and a quick ratio of 0.95. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $87.86. The business has a 50-day moving average of $81.06 and a 200-day moving average of $72.82.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.40. The business had revenue of $6.95 billion during the quarter, compared to the consensus estimate of $6.64 billion. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. As a group, analysts forecast that Gilead Sciences, Inc. will post 3.78 earnings per share for the current year.

Gilead Sciences Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 3.57%. The ex-dividend date of this dividend was Friday, September 13th. Gilead Sciences’s dividend payout ratio is currently 855.56%.

Insider Buying and Selling

In other Gilead Sciences news, insider Johanna Mercier sold 29,357 shares of the 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 sale, the insider now directly owns 78,127 shares of the company’s stock, valued at approximately $6,545,480.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Johanna Mercier sold 29,357 shares of the company’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 transaction of $2,459,529.46. Following the completion of the transaction, the insider now directly owns 78,127 shares of the company’s stock, valued at approximately $6,545,480.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total value of $167,660.00. Following the completion of the sale, the insider now directly owns 100,189 shares in the company, valued at approximately $8,398,843.87. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,847 shares of company stock worth $3,033,340 over the last ninety days. 0.16% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

GILD has been the subject of several research analyst reports. Raymond James upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price target for the company in a research note on Monday, July 8th. Evercore ISI upgraded shares of Gilead Sciences to a “strong-buy” rating in a report on Friday, August 9th. Royal Bank of Canada boosted their price objective on shares of Gilead Sciences from $74.00 to $75.00 and gave the stock a “sector perform” rating in a research note on Friday, October 4th. Barclays raised their target price on shares of Gilead Sciences from $76.00 to $84.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Finally, Wells Fargo & Company raised shares of Gilead Sciences from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $78.00 to $100.00 in a research report on Monday, October 7th. Ten analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $86.85.

Gilead Sciences Profile

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.