Gilead Sciences, Inc. (NASDAQ:GILD) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA cut its stake in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 12.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 75,407 shares of the biopharmaceutical company’s stock after selling 10,397 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Gilead Sciences were worth $6,322,000 as of its most recent SEC filing.

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

Gilead Sciences Price Performance

Gilead Sciences stock opened at $91.35 on Wednesday. The business has a 50 day simple moving average of $87.74 and a 200-day simple moving average of $77.31. The stock has a market capitalization of $113.85 billion, a PE ratio of 1,015.00, a price-to-earnings-growth ratio of 2.80 and a beta of 0.17. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.26 and a quick ratio of 1.10. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $98.90.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.44. The firm had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $7.01 billion. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. Gilead Sciences’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.29 earnings per share. Equities analysts predict that Gilead Sciences, Inc. will post 4.37 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be given a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 3.37%. The ex-dividend date is Friday, December 13th. Gilead Sciences’s payout ratio is 3,422.22%.

Analyst Ratings Changes

A number of brokerages recently issued reports on GILD. Wells Fargo & Company upped their price target on Gilead Sciences from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Leerink Partners raised Gilead Sciences from a “market perform” rating to an “outperform” rating and upped their price target for the company from $74.00 to $96.00 in a report on Monday, October 21st. Wolfe Research began coverage on Gilead Sciences in a report on Friday, November 15th. They issued an “outperform” rating and a $110.00 price target for the company. Cantor Fitzgerald upped their price target on Gilead Sciences from $70.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Robert W. Baird upped their price target on Gilead Sciences from $80.00 to $95.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Twelve analysts have rated the stock with a hold rating, eleven have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $95.41.

Insiders Place Their Bets

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 stock was sold at an average price of $83.83, for a total value of $167,660.00. Following the sale, the insider now owns 100,189 shares of the company’s stock, valued at approximately $8,398,843.87. This represents a 1.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Johanna Mercier sold 29,357 shares of the company’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 completion of the sale, the insider now directly 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. Over the last quarter, insiders sold 56,947 shares of company stock worth $4,968,674. 0.16% of the stock is owned by corporate 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.