Gilead Sciences, Inc. (NASDAQ:GILD) Shares Sold by Wedbush Securities Inc.

Wedbush Securities Inc. reduced its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 4.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,828 shares of the biopharmaceutical company’s stock after selling 1,212 shares during the period. Wedbush Securities Inc.’s holdings in Gilead Sciences were worth $1,978,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of GILD. Norges Bank acquired a new position in shares of Gilead Sciences in the 4th quarter valued at about $1,301,624,000. The Manufacturers Life Insurance Company lifted its position in Gilead Sciences by 78.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 7,632,000 shares of the biopharmaceutical company’s stock worth $618,268,000 after acquiring an additional 3,362,505 shares in the last quarter. Vanguard Group Inc. lifted its position in Gilead Sciences by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 114,732,575 shares of the biopharmaceutical company’s stock worth $8,404,161,000 after acquiring an additional 2,910,147 shares in the last quarter. Wellington Management Group LLP lifted its position in Gilead Sciences by 14.4% during the 4th quarter. Wellington Management Group LLP now owns 18,630,134 shares of the biopharmaceutical company’s stock worth $1,509,227,000 after acquiring an additional 2,350,550 shares in the last quarter. Finally, Swedbank AB acquired a new position in Gilead Sciences during the 1st quarter worth approximately $134,489,000. 83.67% of the stock is owned by institutional investors and hedge funds.

Gilead Sciences Price Performance

Shares of NASDAQ GILD opened at $79.17 on Tuesday. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $87.86. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $98.57 billion, a price-to-earnings ratio of 219.92, a price-to-earnings-growth ratio of 2.73 and a beta of 0.18. The business has a 50 day simple moving average of $74.27 and a 200-day simple moving average of $70.59.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.40. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. The business had revenue of $6.95 billion during the quarter, compared to the consensus estimate of $6.64 billion. As a group, equities research analysts expect 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 yield of 3.89%. Gilead Sciences’s dividend payout ratio is currently 855.56%.

Insider Activity at Gilead Sciences

In related news, insider Johanna Mercier sold 5,490 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $8,506,146.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Gilead Sciences news, 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 in the company, valued at approximately $8,506,146.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Merdad Parsey sold 2,000 shares of the business’s 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 transaction, the insider now owns 96,380 shares of the company’s stock, valued at approximately $6,614,559.40. The disclosure for this sale can be found here. Insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

GILD has been the topic of several recent research reports. Royal Bank of Canada boosted their price target on 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 set a $80.00 price target on shares of Gilead Sciences in a research report on Thursday, June 20th. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a research report on Thursday, August 15th. Evercore ISI upgraded Gilead Sciences to a “strong-buy” rating in a report on Friday, August 9th. Finally, Raymond James upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price objective on the stock in a report on Monday, July 8th. Twelve equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $81.25.

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.