ICICI Prudential Asset Management Co Ltd Sells 11,934 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

ICICI Prudential Asset Management Co Ltd decreased its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 8.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 129,977 shares of the biopharmaceutical company’s stock after selling 11,934 shares during the period. Gilead Sciences accounts for approximately 1.2% of ICICI Prudential Asset Management Co Ltd’s holdings, making the stock its 16th biggest holding. ICICI Prudential Asset Management Co Ltd’s holdings in Gilead Sciences were worth $10,897,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. nVerses Capital LLC purchased a new position in Gilead Sciences during the 3rd quarter worth $25,000. Valued Wealth Advisors LLC boosted its stake in shares of Gilead Sciences by 101.9% during the 3rd quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 161 shares in the last quarter. CarsonAllaria Wealth Management Ltd. increased its stake in Gilead Sciences by 198.3% during 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. Strategic Investment Solutions Inc. IL acquired a new position in shares of Gilead Sciences during the 2nd quarter worth approximately $33,000. Finally, Cedar Wealth Management LLC grew its holdings in shares of Gilead Sciences by 51.6% in the second quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 160 shares during the period. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Wall Street Analysts Forecast Growth

GILD has been the subject of a number of research reports. Evercore ISI raised Gilead Sciences to a “strong-buy” rating in a research note on Friday, August 9th. Barclays raised their price objective on shares of Gilead Sciences from $84.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 7th. Piper Sandler boosted their target price on Gilead Sciences from $95.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Oppenheimer increased their price target on shares of Gilead Sciences from $95.00 to $105.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Eleven research analysts have rated the stock with a hold rating, ten have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, Gilead Sciences currently has an average rating of “Moderate Buy” and a consensus target price of $91.50.

Gilead Sciences Stock Performance

Gilead Sciences stock traded down $1.20 during midday trading on Wednesday, reaching $93.15. 1,996,020 shares of the stock traded hands, compared to its average volume of 7,034,859. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $98.90. The company has a current ratio of 1.11, a quick ratio of 0.82 and a debt-to-equity ratio of 1.18. The firm has a market cap of $115.97 billion, a price-to-earnings ratio of 1,048.33, a PEG ratio of 3.01 and a beta of 0.17. The firm has a fifty day moving average price of $85.95 and a two-hundred day moving average price of $75.57.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.44. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The company had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.01 billion. During the same period in the previous year, the firm earned $2.29 EPS. Gilead Sciences’s revenue was up 7.0% on a year-over-year basis. On average, equities research analysts forecast that Gilead Sciences, Inc. will post 4.35 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be issued a $0.77 dividend. The ex-dividend date is Friday, December 13th. This represents a $3.08 annualized dividend and a dividend yield of 3.31%. Gilead Sciences’s dividend payout ratio is currently 3,422.22%.

Insider Activity at Gilead Sciences

In other news, insider Merdad Parsey sold 25,590 shares of Gilead Sciences stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the transaction, the insider now owns 99,599 shares in the company, valued at approximately $9,113,308.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Johanna Mercier sold 29,357 shares of the 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 transaction, the insider now directly owns 78,127 shares of the company’s stock, valued at approximately $6,545,480.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Merdad Parsey sold 25,590 shares of Gilead Sciences stock in a transaction dated Wednesday, November 6th. The shares were 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 of the company’s stock, valued at $9,113,308.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 56,947 shares of company stock worth $4,968,674 in the last quarter. 0.29% of the stock is owned by company insiders.

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.