Gilead Sciences, Inc. (NASDAQ:GILD) Shares Sold by MAI Capital Management

MAI Capital Management decreased its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 14.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 24,440 shares of the biopharmaceutical company’s stock after selling 4,161 shares during the quarter. MAI Capital Management’s holdings in Gilead Sciences were worth $2,049,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. CarsonAllaria Wealth Management Ltd. grew its stake in Gilead Sciences by 198.3% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 238 shares in the last quarter. nVerses Capital LLC bought a new position in Gilead Sciences during the third quarter valued at about $25,000. Valued Wealth Advisors LLC lifted its position in shares of Gilead Sciences by 101.9% in the third quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 161 shares during the last quarter. Cedar Wealth Management LLC increased its holdings in shares of Gilead Sciences by 51.6% during the 2nd quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 160 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new position in shares of Gilead Sciences in the 2nd quarter valued at approximately $33,000. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Gilead Sciences Stock Up 1.0 %

GILD opened at $88.63 on Thursday. The firm has a market cap of $110.46 billion, a price-to-earnings ratio of 984.78, a PEG ratio of 2.74 and a beta of 0.17. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.10 and a current ratio of 1.26. The firm’s 50-day simple moving average is $87.15 and its 200-day simple moving average is $76.52. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $98.90.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.44. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The firm had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.01 billion. During the same quarter in the previous year, the company posted $2.29 EPS. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. Equities research analysts anticipate that Gilead Sciences, Inc. will post 4.38 EPS 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 dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.08 annualized dividend and a dividend yield of 3.48%. Gilead Sciences’s dividend payout ratio (DPR) is currently 3,422.22%.

Insider Activity at Gilead Sciences

In related news, insider Merdad Parsey sold 25,590 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 99,599 shares of the company’s stock, valued at $9,113,308.50. The trade was a 20.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Johanna Mercier sold 29,357 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the completion of the transaction, the insider now directly owns 78,127 shares in the company, valued at approximately $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. Insiders sold a total of 56,947 shares of company stock valued at $4,968,674 over the last quarter. Corporate insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on GILD. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a research report on Thursday, November 7th. 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. JPMorgan Chase & Co. boosted their target price on shares of Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Wells Fargo & Company increased their price target on shares of Gilead Sciences from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Finally, BMO Capital Markets boosted their price objective on shares of Gilead Sciences from $94.00 to $102.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Eleven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Gilead Sciences currently has an average rating of “Moderate Buy” and a consensus price target of $94.00.

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.