Candriam S.C.A. Sells 265,209 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Candriam S.C.A. cut its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 11.6% in the second quarter, Holdings Channel.com reports. The firm owned 2,019,920 shares of the biopharmaceutical company’s stock after selling 265,209 shares during the quarter. Gilead Sciences comprises approximately 0.8% of Candriam S.C.A.’s investment portfolio, making the stock its 20th biggest position. Candriam S.C.A.’s holdings in Gilead Sciences were worth $138,580,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Gilead Sciences during the 4th quarter valued at about $1,301,624,000. The Manufacturers Life Insurance Company raised its stake in shares of Gilead Sciences by 78.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 7,632,000 shares of the biopharmaceutical company’s stock valued at $618,268,000 after acquiring an additional 3,362,505 shares in the last quarter. Vanguard Group Inc. grew its stake in Gilead Sciences by 2.6% in the first quarter. Vanguard Group Inc. now owns 114,732,575 shares of the biopharmaceutical company’s stock worth $8,404,161,000 after purchasing an additional 2,910,147 shares in the last quarter. Wellington Management Group LLP grew its stake in Gilead Sciences by 14.4% in the fourth quarter. Wellington Management Group LLP now owns 18,630,134 shares of the biopharmaceutical company’s stock worth $1,509,227,000 after purchasing an additional 2,350,550 shares in the last quarter. Finally, Swedbank AB bought a new stake in Gilead Sciences during the 1st quarter valued at $134,489,000. 83.67% of the stock is currently owned by institutional investors.

Gilead Sciences Trading Down 0.1 %

Shares of Gilead Sciences stock opened at $78.72 on Friday. The stock has a 50 day moving average of $74.06 and a 200 day moving average of $70.57. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.95 and a current ratio of 1.14. The firm has a market capitalization of $98.07 billion, a price-to-earnings ratio of 218.67, a PEG ratio of 2.74 and a beta of 0.18. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $87.86.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.40. The business had revenue of $6.95 billion during the quarter, compared to analysts’ expectations of $6.64 billion. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. As a group, research analysts predict that Gilead Sciences, Inc. will post 3.78 earnings per share for the current year.

Gilead Sciences Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.91%. Gilead Sciences’s payout ratio is currently 855.56%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on GILD shares. Royal Bank of Canada increased their target price on shares of Gilead Sciences from $72.00 to $74.00 and gave the stock a “sector perform” rating in a report on Wednesday. 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 report on Friday, August 9th. Raymond James raised Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price target for the company in a research report on Monday, July 8th. Robert W. Baird reaffirmed a “neutral” rating and set a $80.00 price objective on shares of Gilead Sciences in a research report on Thursday, June 20th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $70.00 price target on shares of Gilead Sciences in a research report on Friday, August 9th. Twelve research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $82.06.

Insider Buying and Selling at Gilead Sciences

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

About Gilead Sciences

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.