Gilead Sciences, Inc. (NASDAQ:GILD) Stake Cut by LGT Group Foundation

LGT Group Foundation decreased its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 6.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,694 shares of the biopharmaceutical company’s stock after selling 1,710 shares during the period. LGT Group Foundation’s holdings in Gilead Sciences were worth $1,763,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Norges Bank acquired a new position in shares of Gilead Sciences in the 4th quarter valued at about $1,301,624,000. The Manufacturers Life Insurance Company lifted its holdings in Gilead Sciences by 78.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 7,632,000 shares of the biopharmaceutical company’s stock worth $618,268,000 after acquiring an additional 3,362,505 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Gilead Sciences by 2.6% in the first quarter. Vanguard Group Inc. now owns 114,732,575 shares of the biopharmaceutical company’s stock worth $8,404,161,000 after acquiring an additional 2,910,147 shares during the last quarter. Wellington Management Group LLP boosted its stake in Gilead Sciences by 14.4% in the fourth quarter. Wellington Management Group LLP now owns 18,630,134 shares of the biopharmaceutical company’s stock valued at $1,509,227,000 after acquiring an additional 2,350,550 shares during the period. Finally, Swedbank AB bought a new position in shares of Gilead Sciences during the first quarter valued at approximately $134,489,000. 83.67% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Johanna Mercier sold 5,490 shares of Gilead Sciences stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total value of $406,150.20. Following the transaction, the insider now directly owns 114,979 shares in the company, valued at approximately $8,506,146.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 value of $137,260.00. Following the completion of the sale, the insider now owns 96,380 shares in the company, valued at $6,614,559.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Johanna Mercier sold 5,490 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total value of $406,150.20. Following the completion of the sale, the insider now directly owns 114,979 shares of the company’s stock, valued at approximately $8,506,146.42. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

GILD has been the subject of a number of analyst reports. 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 research report on Monday, July 8th. Cantor Fitzgerald reissued a “neutral” rating and set a $70.00 price target on shares of Gilead Sciences in a report on Monday. Royal Bank of Canada increased their price objective on shares of Gilead Sciences from $72.00 to $74.00 and gave the stock a “sector perform” rating in a report on Wednesday, September 4th. Truist Financial lifted their price objective on shares of Gilead Sciences from $82.00 to $83.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Finally, Robert W. Baird restated a “neutral” rating and issued a $80.00 target price on shares of Gilead Sciences in a research report on Thursday, June 20th. Twelve investment analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $81.25.

Gilead Sciences Stock Up 0.6 %

Shares of GILD stock opened at $79.17 on Tuesday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.95 and a current ratio of 1.14. The stock has a market cap of $98.57 billion, a PE ratio of 219.92, a price-to-earnings-growth ratio of 2.73 and a beta of 0.18. The business’s fifty day moving average is $74.27 and its 200-day moving average is $70.59. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $87.86.

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

Gilead Sciences Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date is Friday, September 13th. Gilead Sciences’s payout ratio is 855.56%.

Gilead Sciences Company 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.