Gilead Sciences, Inc. (NASDAQ:GILD) Shares Sold by Royal Fund Management LLC

Royal Fund Management LLC cut its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 12.8% in the second quarter, HoldingsChannel reports. The institutional investor owned 19,563 shares of the biopharmaceutical company’s stock after selling 2,877 shares during the quarter. Royal Fund Management LLC’s holdings in Gilead Sciences were worth $1,342,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Gilead Sciences by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 114,732,575 shares of the biopharmaceutical company’s stock worth $8,404,161,000 after purchasing an additional 2,910,147 shares in the last quarter. Capital World Investors increased its position in Gilead Sciences by 1.4% during 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 in the last quarter. Capital Research Global Investors boosted its position in Gilead Sciences by 2.7% during the first 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 last quarter. Wellington Management Group LLP lifted its position in Gilead Sciences by 14.4% during the fourth quarter. Wellington Management Group LLP now owns 18,630,134 shares of the biopharmaceutical company’s stock worth $1,509,227,000 after buying an additional 2,350,550 shares during the period. Finally, Norges Bank purchased a new stake in Gilead Sciences in the 4th quarter valued at about $1,301,624,000. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Gilead Sciences Stock Down 0.8 %

GILD traded down $0.56 during trading on Friday, reaching $73.78. 5,148,098 shares of the stock traded hands, compared to its average volume of 7,321,358. The stock’s 50-day simple moving average is $70.80 and its two-hundred day simple moving average is $70.31. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.08 and a quick ratio of 0.94. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $87.86. The stock has a market cap of $91.92 billion, a price-to-earnings ratio of 204.94, a price-to-earnings-growth ratio of 3.37 and a beta of 0.18.

Gilead Sciences Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date is Friday, September 13th. Gilead Sciences’s payout ratio is 855.56%.

Analysts Set New Price Targets

A number of analysts have recently commented on GILD shares. Raymond James upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price objective for the company in a report on Monday, July 8th. Barclays cut their price objective on shares of Gilead Sciences from $80.00 to $76.00 and set an “equal weight” rating on the stock in a report on Monday, April 29th. Robert W. Baird restated a “neutral” rating and issued a $80.00 price target on shares of Gilead Sciences in a research note on Thursday, June 20th. StockNews.com raised shares of Gilead Sciences from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 27th. Finally, TD Cowen cut their target price on shares of Gilead Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. Twelve equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Gilead Sciences has a consensus rating of “Moderate Buy” and an average price target of $81.94.

Insider Transactions at Gilead Sciences

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction on Monday, July 1st. The stock was sold at an average price of $68.63, for a total transaction of $137,260.00. Following the completion of the transaction, the insider now directly owns 96,380 shares of the company’s stock, valued at $6,614,559.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $68.63, for a total transaction of $137,260.00. Following the sale, the insider now owns 96,380 shares in the company, valued at $6,614,559.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Johanna Mercier sold 5,490 shares of Gilead Sciences stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total value of $406,150.20. Following the completion of the transaction, the insider now directly owns 114,979 shares of the company’s stock, valued at $8,506,146.42. The disclosure for this sale can be found here. 0.16% of the stock is 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.