Intech Investment Management LLC Sells 81,835 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Intech Investment Management LLC lowered its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 29.8% in the third quarter, HoldingsChannel.com reports. The fund owned 192,549 shares of the biopharmaceutical company’s stock after selling 81,835 shares during the quarter. Intech Investment Management LLC’s holdings in Gilead Sciences were worth $16,143,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Gilead Sciences by 38.2% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 764,520 shares of the biopharmaceutical company’s stock valued at $64,097,000 after buying an additional 211,493 shares during the last quarter. Cornerstone Advisors LLC grew its holdings in Gilead Sciences by 6.0% during the third quarter. Cornerstone Advisors LLC now owns 68,400 shares of the biopharmaceutical company’s stock valued at $5,735,000 after purchasing an additional 3,900 shares during the period. Citizens Financial Group Inc. RI raised its holdings in Gilead Sciences by 5.6% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 6,321 shares of the biopharmaceutical company’s stock worth $530,000 after buying an additional 337 shares during the period. EagleClaw Capital Managment LLC increased its holdings in Gilead Sciences by 3.7% during the 3rd quarter. EagleClaw Capital Managment LLC now owns 9,060 shares of the biopharmaceutical company’s stock worth $760,000 after purchasing an additional 325 shares in the last quarter. Finally, Altman Advisors Inc. lifted its holdings in shares of Gilead Sciences by 1.2% in the third quarter. Altman Advisors Inc. now owns 20,875 shares of the biopharmaceutical company’s stock valued at $1,750,000 after purchasing an additional 253 shares in the last quarter. 83.67% of the stock is currently owned by institutional investors.

Gilead Sciences Stock Up 1.0 %

GILD stock opened at $88.63 on Thursday. The stock has a market cap of $110.46 billion, a P/E ratio of 984.78, a P/E/G ratio of 2.72 and a beta of 0.17. 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 stock’s fifty day simple moving average is $87.15 and its two-hundred day simple moving average is $76.52. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $98.90.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.44. The business had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.01 billion. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period last year, the business posted $2.29 earnings per share. Analysts expect that Gilead Sciences, Inc. will post 4.38 EPS for the current 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 given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 3.48%. The ex-dividend date is Friday, December 13th. Gilead Sciences’s dividend payout ratio is presently 3,422.22%.

Insider Transactions at Gilead Sciences

In other news, insider Merdad Parsey sold 25,590 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total value of $2,341,485.00. Following the completion of the transaction, the insider now directly owns 99,599 shares in the company, valued at approximately $9,113,308.50. This represents a 20.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Johanna Mercier sold 29,357 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the insider now owns 78,127 shares of the company’s stock, valued at $6,545,480.06. The trade was a 27.31 % decrease in their position. 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 currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GILD. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a research report on Thursday, November 7th. Cantor Fitzgerald raised their target price on shares of Gilead Sciences from $70.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Royal Bank of Canada boosted their price target on shares of Gilead Sciences from $81.00 to $84.00 and gave the stock a “sector perform” rating in a research report on Monday. JPMorgan Chase & Co. raised their price objective on Gilead Sciences from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Finally, Oppenheimer increased their price target on Gilead Sciences from $95.00 to $105.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Twelve investment analysts have rated the stock with a hold rating, eleven have given a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock 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.