United Services Automobile Association Decreases Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

United Services Automobile Association lowered its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 2.2% during the second quarter, HoldingsChannel reports. The firm owned 218,159 shares of the biopharmaceutical company’s stock after selling 4,826 shares during the period. United Services Automobile Association’s holdings in Gilead Sciences were worth $14,968,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. CarsonAllaria Wealth Management Ltd. lifted its holdings in Gilead Sciences by 198.3% in the 2nd 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. Private Wealth Management Group LLC purchased a new stake in shares of Gilead Sciences during the fourth quarter worth about $29,000. Palisade Asset Management LLC acquired a new position in shares of Gilead Sciences in the first quarter worth about $29,000. Sachetta LLC purchased a new position in Gilead Sciences in the fourth quarter valued at about $30,000. Finally, Financial Connections Group Inc. acquired a new stake in Gilead Sciences during the 2nd quarter valued at approximately $34,000. 83.67% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GILD. BMO Capital Markets increased their target price on Gilead Sciences from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Truist Financial boosted their target price on shares of Gilead Sciences from $82.00 to $83.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Royal Bank of Canada increased their price target on shares of Gilead Sciences from $72.00 to $74.00 and gave the stock a “sector perform” rating in a research report on Wednesday, September 4th. Robert W. Baird reissued a “neutral” rating and issued a $80.00 price objective on shares of Gilead Sciences in a report on Thursday, June 20th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $70.00 target price on shares of Gilead Sciences in a report on Friday, August 9th. Twelve equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $81.25.

Insider Buying and Selling at Gilead Sciences

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 transaction, the insider now owns 96,380 shares of the company’s stock, valued at $6,614,559.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $68.63, for a total transaction of $137,260.00. Following the sale, the insider now directly owns 96,380 shares in the company, valued at approximately $6,614,559.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Johanna Mercier sold 5,490 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total transaction of $406,150.20. Following the transaction, the insider now owns 114,979 shares in the company, valued at approximately $8,506,146.42. The disclosure for this sale can be found here. 0.16% of the stock is owned by company insiders.

Gilead Sciences Stock Performance

GILD stock opened at $78.86 on Monday. The stock’s fifty day moving average is $74.06 and its two-hundred day moving average is $70.55. The stock has a market capitalization of $98.18 billion, a price-to-earnings ratio of 218.67, a PEG ratio of 2.73 and a beta of 0.18. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.95 and a current ratio of 1.14. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $87.86.

Gilead Sciences (NASDAQ:GILD) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $6.64 billion. On average, research analysts predict that Gilead Sciences, Inc. will post 3.78 EPS for the current year.

Gilead Sciences Announces Dividend

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 given a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 3.91%. The ex-dividend date is Friday, September 13th. Gilead Sciences’s dividend payout ratio is currently 855.56%.

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.