Mediolanum International Funds Ltd Sells 89,617 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Mediolanum International Funds Ltd trimmed its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 59.2% in the 3rd quarter, Holdings Channel reports. The fund owned 61,662 shares of the biopharmaceutical company’s stock after selling 89,617 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Gilead Sciences were worth $5,147,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Manning & Napier Advisors LLC purchased a new stake in shares of Gilead Sciences in the second quarter worth $25,328,000. Legal & General Group Plc increased its stake in Gilead Sciences by 0.8% during 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 purchasing an additional 93,068 shares in the last quarter. GSA Capital Partners LLP purchased a new position in Gilead Sciences in the first quarter worth about $462,000. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Gilead Sciences by 13.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 286,116 shares of the biopharmaceutical company’s stock valued at $19,630,000 after buying an additional 33,162 shares during the last quarter. Finally, Cetera Investment Advisers grew its holdings in shares of Gilead Sciences by 127.6% during the first quarter. Cetera Investment Advisers now owns 213,901 shares of the biopharmaceutical company’s stock valued at $15,668,000 after buying an additional 119,909 shares during the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GILD has been the topic of several analyst reports. JPMorgan Chase & Co. upped their price objective on Gilead Sciences from $95.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Evercore ISI raised Gilead Sciences to a “strong-buy” rating in a research report on Friday, August 9th. BMO Capital Markets boosted their target price on Gilead Sciences from $85.00 to $94.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a report on Thursday, August 15th. Finally, Royal Bank of Canada boosted their price objective on shares of Gilead Sciences from $74.00 to $75.00 and gave the company a “sector perform” rating in a report on Friday, October 4th. Ten analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, Gilead Sciences presently has a consensus rating of “Moderate Buy” and an average price target of $86.85.

Insiders Place Their Bets

In other news, 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 directly owns 78,127 shares of the company’s stock, valued at approximately $6,545,480.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Johanna Mercier sold 29,357 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were 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 approximately $6,545,480.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Merdad Parsey sold 2,000 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total transaction of $167,660.00. Following the transaction, the insider now owns 100,189 shares of the company’s stock, valued at $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 a total of 36,847 shares of company stock worth $3,033,340 in the last 90 days. 0.16% of the stock is currently owned by corporate insiders.

Gilead Sciences Stock Performance

NASDAQ GILD opened at $89.00 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 1.18. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $89.74. The business has a 50-day moving average price of $82.46 and a 200-day moving average price of $73.44. The firm has a market cap of $110.80 billion, a price-to-earnings ratio of 108.54, a price-to-earnings-growth ratio of 3.07 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, topping the consensus estimate 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, equities research analysts predict that Gilead Sciences, Inc. will post 3.76 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a $0.77 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.08 dividend on an annualized basis and a yield of 3.46%. Gilead Sciences’s dividend payout ratio is currently 375.61%.

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.