UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Lowers Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 4.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,628,942 shares of the biopharmaceutical company’s stock after selling 510,833 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Gilead Sciences were worth $891,130,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. FMR LLC lifted its position in Gilead Sciences by 79.4% in the third quarter. FMR LLC now owns 33,162,319 shares of the biopharmaceutical company’s stock valued at $2,780,329,000 after purchasing an additional 14,680,161 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Gilead Sciences by 8,238.4% in the 3rd quarter. International Assets Investment Management LLC now owns 1,642,504 shares of the biopharmaceutical company’s stock valued at $137,708,000 after buying an additional 1,622,806 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Gilead Sciences by 24.7% in the second quarter. Pacer Advisors Inc. now owns 7,889,663 shares of the biopharmaceutical company’s stock valued at $541,310,000 after buying an additional 1,564,792 shares in the last quarter. Deerfield Management Company L.P. Series C acquired a new position in Gilead Sciences during the second quarter worth $102,298,000. Finally, Assenagon Asset Management S.A. raised its position in Gilead Sciences by 159.8% in the third quarter. Assenagon Asset Management S.A. now owns 2,337,717 shares of the biopharmaceutical company’s stock worth $195,994,000 after acquiring an additional 1,437,842 shares in the last quarter. Institutional investors and hedge funds own 83.67% of the company’s stock.

Analysts Set New Price Targets

GILD has been the topic of several research analyst reports. Barclays boosted their target price 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 upped their target price on shares of Gilead Sciences from $95.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Evercore ISI upgraded shares of Gilead Sciences to a “strong-buy” rating in a research report on Friday, August 9th. BMO Capital Markets upped their price target on Gilead Sciences from $94.00 to $102.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a report on Thursday, November 7th. Twelve research analysts have rated the stock with a hold rating, eleven have given a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $95.41.

Insider Buying and Selling at Gilead Sciences

In other news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total transaction of $167,660.00. Following the completion of the sale, the insider now owns 100,189 shares in the company, valued at approximately $8,398,843.87. The trade was a 1.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey Bluestone sold 6,788 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $91.39, for a total transaction of $620,355.32. Following the completion of the transaction, the director now owns 8,920 shares in the company, valued at $815,198.80. The trade was a 43.21 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 63,735 shares of company stock valued at $5,589,030. Company insiders own 0.29% of the company’s stock.

Gilead Sciences Stock Up 1.2 %

GILD stock opened at $92.41 on Thursday. Gilead Sciences, Inc. has a one year low of $62.07 and a one year high of $98.90. The stock has a market capitalization of $115.17 billion, a P/E ratio of 1,026.78, a PEG ratio of 2.81 and a beta of 0.17. The company has a 50 day moving average price of $87.91 and a two-hundred day moving average price of $77.42. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.10 and a current ratio of 1.26.

Gilead Sciences (NASDAQ:GILD) last announced its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.44. The business had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.01 billion. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The company’s revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.29 EPS. As a group, sell-side analysts expect that Gilead Sciences, Inc. will post 4.37 EPS for the current year.

Gilead Sciences Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend is Friday, December 13th. Gilead Sciences’s payout ratio is currently 3,422.22%.

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.