Grimes & Company Inc. Has $14.92 Million Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Grimes & Company Inc. lowered its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 7.4% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 177,894 shares of the biopharmaceutical company’s stock after selling 14,135 shares during the quarter. Grimes & Company Inc.’s holdings in Gilead Sciences were worth $14,915,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of GILD. Vanguard Group Inc. raised 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 valued at $8,404,161,000 after purchasing an additional 2,910,147 shares in the last quarter. Capital World Investors raised its stake in Gilead Sciences by 1.4% during the first quarter. Capital World Investors now owns 84,497,404 shares of the biopharmaceutical company’s stock worth $6,189,435,000 after acquiring an additional 1,133,281 shares in the last quarter. Capital Research Global Investors raised its stake in Gilead Sciences by 2.7% during the first quarter. Capital Research Global Investors now owns 61,246,366 shares of the biopharmaceutical company’s stock worth $4,486,296,000 after acquiring an additional 1,589,240 shares in the last quarter. Legal & General Group Plc raised its stake in Gilead Sciences by 0.8% during the second quarter. Legal & General Group Plc now owns 12,414,268 shares of the biopharmaceutical company’s stock worth $851,743,000 after acquiring an additional 93,068 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Gilead Sciences by 2.6% during the second quarter. Dimensional Fund Advisors LP now owns 10,412,413 shares of the biopharmaceutical company’s stock worth $714,421,000 after acquiring an additional 268,208 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 reports. Leerink Partners upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $74.00 to $96.00 in a report on Monday. Needham & Company LLC reiterated a “hold” rating on shares of Gilead Sciences in a report on Thursday, August 15th. Cantor Fitzgerald restated a “neutral” rating and set a $70.00 price target on shares of Gilead Sciences in a report on Monday, September 16th. Wells Fargo & Company upgraded Gilead Sciences from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $78.00 to $100.00 in a report on Monday, October 7th. Finally, JPMorgan Chase & Co. increased their price target on Gilead Sciences from $95.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Ten research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.85.

Gilead Sciences Trading Up 1.2 %

Shares of GILD traded up $1.01 during mid-day trading on Thursday, hitting $88.24. 526,031 shares of the company’s stock traded hands, compared to its average volume of 7,017,568. The firm has a market capitalization of $109.93 billion, a P/E ratio of 245.53, a PEG ratio of 2.98 and a beta of 0.18. The business’s 50-day moving average price is $81.87 and its 200-day moving average price is $73.17. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $89.07. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 1.18.

Gilead Sciences (NASDAQ:GILD) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 EPS for the quarter, topping 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 firm had revenue of $6.95 billion for the quarter, compared to analysts’ expectations of $6.64 billion. As a group, sell-side analysts forecast that Gilead Sciences, Inc. will post 3.78 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date was Friday, September 13th. Gilead Sciences’s payout ratio is currently 855.56%.

Insider Activity

In other news, insider Johanna Mercier sold 5,490 shares of the company’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 transaction, the insider now directly owns 114,979 shares of the company’s stock, valued at $8,506,146.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Merdad Parsey sold 2,000 shares of the 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Johanna Mercier sold 5,490 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total value of $406,150.20. Following the sale, the insider now owns 114,979 shares of the company’s stock, valued at $8,506,146.42. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,847 shares of company stock valued at $3,033,340 over the last ninety days. 0.16% of the stock is currently owned by corporate 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.