Parnassus Investments LLC Lowers Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Parnassus Investments LLC lessened its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 19.6% in the 3rd quarter, Holdings Channel reports. The firm owned 1,151,874 shares of the biopharmaceutical company’s stock after selling 280,937 shares during the period. Parnassus Investments LLC’s holdings in Gilead Sciences were worth $96,573,000 at the end of the most recent reporting period.

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

Gilead Sciences Trading Up 0.1 %

Shares of NASDAQ:GILD opened at $88.46 on Tuesday. Gilead Sciences, Inc. has a 52 week low of $62.07 and a 52 week high of $98.90. The company’s 50 day moving average is $86.87 and its two-hundred day moving average is $76.27. The company has a market cap of $110.25 billion, a PE ratio of 982.89, a P/E/G ratio of 2.74 and a beta of 0.17. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.44. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. 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 previous year, the business earned $2.29 EPS. Gilead Sciences’s revenue for the quarter was up 7.0% on a year-over-year basis. Equities analysts predict 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. Shareholders of record on Friday, December 13th will be issued a dividend of $0.77 per share. The ex-dividend date is Friday, December 13th. This represents a $3.08 dividend on an annualized basis and a yield of 3.48%. Gilead Sciences’s payout ratio is currently 3,422.22%.

Analyst Ratings Changes

Several research firms recently issued reports on GILD. Barclays raised their price objective on shares of Gilead Sciences from $84.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 7th. BMO Capital Markets lifted their price target on shares of Gilead Sciences from $94.00 to $102.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. The Goldman Sachs Group increased their price objective on Gilead Sciences from $74.00 to $84.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Sanford C. Bernstein started coverage on Gilead Sciences in a research note on Thursday, October 17th. They issued an “outperform” rating and a $105.00 price target on the stock. Finally, Cantor Fitzgerald increased their price target on Gilead Sciences from $70.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Eleven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $94.00.

Insider Transactions at Gilead Sciences

In other Gilead Sciences news, 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 value of $167,660.00. Following the completion of the transaction, the insider now owns 100,189 shares in the company, valued at $8,398,843.87. This represents a 1.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Johanna Mercier sold 29,357 shares of Gilead Sciences stock in a transaction dated 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 sale, the insider now owns 78,127 shares in the company, valued at $6,545,480.06. This trade represents a 27.31 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,947 shares of company stock worth $4,968,674. 0.29% of the stock is currently owned by insiders.

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.