Federated Hermes Inc. Sells 688,145 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Federated Hermes Inc. decreased its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 9.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 6,441,601 shares of the biopharmaceutical company’s stock after selling 688,145 shares during the quarter. Gilead Sciences makes up approximately 1.3% of Federated Hermes Inc.’s holdings, making the stock its 6th largest position. Federated Hermes Inc.’s holdings in Gilead Sciences were worth $595,011,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. HHM Wealth Advisors LLC raised its holdings in shares of Gilead Sciences by 118.5% during the 4th quarter. HHM Wealth Advisors LLC now owns 284 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 154 shares in the last quarter. YANKCOM Partnership acquired a new stake in shares of Gilead Sciences in the fourth quarter worth about $28,000. Decker Retirement Planning Inc. bought a new stake in shares of Gilead Sciences during the 4th quarter worth about $29,000. Crews Bank & Trust bought a new position in shares of Gilead Sciences in the 4th quarter valued at approximately $31,000. Finally, Stephens Consulting LLC lifted its holdings in Gilead Sciences by 325.0% in the 4th quarter. Stephens Consulting LLC now owns 340 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 260 shares during the last quarter. Institutional investors and hedge funds own 83.67% of the company’s stock.

Insider Buying and Selling at Gilead Sciences

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 17,929 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $118.17, for a total transaction of $2,118,669.93. Following the sale, the chief financial officer now directly owns 169,061 shares of the company’s stock, valued at $19,977,938.37. The trade was a 9.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In the last quarter, insiders have sold 302,785 shares of company stock worth $30,503,250. Corporate insiders own 0.16% of the company’s stock.

Gilead Sciences Stock Performance

Shares of GILD stock opened at $107.25 on Friday. The company has a market capitalization of $133.54 billion, a P/E ratio of 289.86, a price-to-earnings-growth ratio of 0.71 and a beta of 0.32. Gilead Sciences, Inc. has a 52 week low of $62.07 and a 52 week high of $119.96. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.20 and a current ratio of 1.50. The company’s 50 day moving average price is $107.30 and its two-hundred day moving average price is $95.89.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.67 by $0.23. Gilead Sciences had a net margin of 1.67% and a return on equity of 31.63%. On average, analysts expect that Gilead Sciences, Inc. will post 7.95 earnings per share for the current fiscal year.

Gilead Sciences Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a dividend of $0.79 per share. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from Gilead Sciences’s previous quarterly dividend of $0.77. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.95%. Gilead Sciences’s dividend payout ratio (DPR) is presently 854.05%.

Analyst Ratings Changes

GILD has been the subject of a number of recent analyst reports. DZ Bank upgraded shares of Gilead Sciences from a “hold” rating to a “buy” rating and set a $108.00 price target for the company in a report on Thursday, February 13th. The Goldman Sachs Group upped their target price on shares of Gilead Sciences from $85.00 to $96.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Bank of America raised their price target on shares of Gilead Sciences from $116.00 to $126.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. JPMorgan Chase & Co. upped their price objective on Gilead Sciences from $120.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday, March 27th. Finally, Morgan Stanley lifted their target price on Gilead Sciences from $123.00 to $130.00 and gave the company an “overweight” rating in a research note on Tuesday, March 11th. Eleven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat, Gilead Sciences has an average rating of “Moderate Buy” and a consensus target price of $105.12.

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.