Gilead Sciences, Inc. (NASDAQ:GILD) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. cut its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 95.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 42,514 shares of the biopharmaceutical company’s stock after selling 929,649 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Gilead Sciences were worth $3,564,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Legal & General Group Plc lifted its position in Gilead Sciences by 0.8% in the second quarter. Legal & General Group Plc now owns 12,414,268 shares of the biopharmaceutical company’s stock worth $851,743,000 after purchasing an additional 93,068 shares during the period. Dimensional Fund Advisors LP lifted its position in Gilead Sciences by 2.6% in the second quarter. Dimensional Fund Advisors LP now owns 10,412,413 shares of the biopharmaceutical company’s stock worth $714,421,000 after purchasing an additional 268,208 shares during the period. Pacer Advisors Inc. lifted its position in Gilead Sciences by 24.7% in the second quarter. Pacer Advisors Inc. now owns 7,889,663 shares of the biopharmaceutical company’s stock worth $541,310,000 after purchasing an additional 1,564,792 shares during the period. Van ECK Associates Corp lifted its position in Gilead Sciences by 0.4% in the third quarter. Van ECK Associates Corp now owns 6,342,831 shares of the biopharmaceutical company’s stock worth $553,285,000 after purchasing an additional 22,847 shares during the period. Finally, Federated Hermes Inc. lifted its position in Gilead Sciences by 19.6% in the second quarter. Federated Hermes Inc. now owns 6,321,167 shares of the biopharmaceutical company’s stock worth $433,695,000 after purchasing an additional 1,036,932 shares during the period. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Gilead Sciences Trading Up 0.5 %

NASDAQ GILD opened at $90.19 on Monday. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $98.90. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $112.40 billion, a PE ratio of 1,002.11, a price-to-earnings-growth ratio of 2.78 and a beta of 0.17. The firm’s fifty day simple moving average is $87.43 and its 200-day simple moving average is $76.95.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.44. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The business had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.01 billion. During the same period in the prior year, the business posted $2.29 earnings per share. Gilead Sciences’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Gilead Sciences, Inc. will post 4.38 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date of this dividend is Friday, December 13th. Gilead Sciences’s dividend payout ratio (DPR) is presently 3,422.22%.

Wall Street Analyst Weigh In

GILD has been the subject of a number of research analyst reports. Evercore ISI upgraded Gilead Sciences to a “strong-buy” rating in a research report on Friday, August 9th. BMO Capital Markets upped their target price on Gilead Sciences from $94.00 to $102.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Cantor Fitzgerald increased their price objective on Gilead Sciences from $70.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Sanford C. Bernstein began coverage on Gilead Sciences in a research report on Thursday, October 17th. They set an “outperform” rating and a $105.00 price objective for the company. Finally, Royal Bank of Canada increased their price objective on Gilead Sciences from $81.00 to $84.00 and gave the company a “sector perform” rating in a research report on Monday, November 18th. Twelve equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $95.41.

Insider Transactions at Gilead Sciences

In other Gilead Sciences news, insider Merdad Parsey sold 25,590 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the transaction, the insider now directly owns 99,599 shares of the company’s stock, valued at $9,113,308.50. This represents a 20.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Johanna Mercier sold 29,357 shares of the stock in a transaction 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 transaction, the insider now directly owns 78,127 shares in the company, valued at $6,545,480.06. The trade was a 27.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,947 shares of company stock valued at $4,968,674. 0.16% of the stock is owned by insiders.

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.