Martingale Asset Management L P Cuts Stake in Gilead Sciences, Inc. (NASDAQ:GILD)

Martingale Asset Management L P lessened its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 15.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 255,510 shares of the biopharmaceutical company’s stock after selling 48,012 shares during the period. Martingale Asset Management L P’s holdings in Gilead Sciences were worth $21,422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GILD. Atria Investments Inc grew its stake in Gilead Sciences by 16.2% in the first quarter. Atria Investments Inc now owns 89,515 shares of the biopharmaceutical company’s stock valued at $6,557,000 after purchasing an additional 12,507 shares during the last quarter. Cetera Investment Advisers grew its stake in Gilead Sciences by 127.6% in the first quarter. Cetera Investment Advisers now owns 213,901 shares of the biopharmaceutical company’s stock valued at $15,668,000 after purchasing an additional 119,909 shares during the last quarter. Cetera Advisors LLC boosted its holdings in Gilead Sciences by 167.2% in the first quarter. Cetera Advisors LLC now owns 82,786 shares of the biopharmaceutical company’s stock worth $6,064,000 after acquiring an additional 51,801 shares in the last quarter. Railway Pension Investments Ltd boosted its holdings in Gilead Sciences by 0.3% in the first quarter. Railway Pension Investments Ltd now owns 1,563,965 shares of the biopharmaceutical company’s stock worth $114,560,000 after acquiring an additional 4,800 shares in the last quarter. Finally, IMS Capital Management boosted its holdings in Gilead Sciences by 34.8% in the first quarter. IMS Capital Management now owns 6,623 shares of the biopharmaceutical company’s stock worth $485,000 after acquiring an additional 1,710 shares in the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Insider Activity

In other news, insider Johanna Mercier sold 29,357 shares of the company’s stock in a transaction 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 transaction, the insider now owns 78,127 shares of the company’s stock, valued at $6,545,480.06. This represents a 27.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total value of $167,660.00. Following the completion of the transaction, the insider now directly owns 100,189 shares in the company, valued at approximately $8,398,843.87. This trade represents a 1.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 63,735 shares of company stock valued at $5,589,030 in the last quarter. Insiders own 0.16% of the company’s stock.

Gilead Sciences Stock Up 1.2 %

Shares of NASDAQ:GILD opened at $92.41 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 1.24. The business has a fifty day moving average of $88.08 and a two-hundred day moving average of $77.52. The stock has a market cap of $115.17 billion, a P/E ratio of 1,026.78, a PEG ratio of 2.87 and a beta of 0.17. Gilead Sciences, Inc. has a 52-week low of $62.07 and a 52-week high of $98.90.

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

Gilead Sciences Dividend Announcement

The business also recently announced 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. This represents a $3.08 annualized dividend and a yield of 3.33%. The ex-dividend date is Friday, December 13th. Gilead Sciences’s payout ratio is currently 3,422.22%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on GILD shares. Oppenheimer raised their price target on Gilead Sciences from $95.00 to $105.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Leerink Partnrs raised Gilead Sciences from a “hold” rating to a “strong-buy” rating in a report on Monday, October 21st. Cantor Fitzgerald lifted their target price on Gilead Sciences from $70.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Citigroup began coverage on Gilead Sciences in a report on Thursday, November 14th. They set a “buy” rating and a $125.00 target price for the company. Finally, Wells Fargo & Company lifted their target price on Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating 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 has an average rating of “Moderate Buy” and a consensus target price of $95.41.

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.