Gilead Sciences, Inc. (NASDAQ:GILD) Shares Sold by Marco Investment Management LLC

Marco Investment Management LLC lowered its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 2.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,151 shares of the biopharmaceutical company’s stock after selling 450 shares during the quarter. Marco Investment Management LLC’s holdings in Gilead Sciences were worth $1,857,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Manning & Napier Advisors LLC bought a new position in Gilead Sciences during the 2nd quarter valued at $25,328,000. Legal & General Group Plc lifted its position in shares of 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 purchasing an additional 93,068 shares during the last quarter. IRON Financial LLC acquired a new position in Gilead Sciences in the third quarter worth about $830,000. Wealth Enhancement Advisory Services LLC increased its holdings in Gilead Sciences by 13.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 286,116 shares of the biopharmaceutical company’s stock valued at $19,630,000 after buying an additional 33,162 shares during the last quarter. Finally, Cetera Investment Advisers raised its stake in Gilead Sciences by 127.6% during the first quarter. Cetera Investment Advisers now owns 213,901 shares of the biopharmaceutical company’s stock valued at $15,668,000 after buying an additional 119,909 shares in the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, insider Johanna Mercier sold 29,357 shares of Gilead Sciences stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the sale, the insider now directly owns 78,127 shares of the company’s stock, valued at approximately $6,545,480.06. The trade was a 27.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Merdad Parsey sold 2,000 shares of the company’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 directly 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 disclosure for this sale can be found here. Insiders have sold 56,947 shares of company stock worth $4,968,674 over the last three months. Company insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on GILD. Barclays lifted their price objective on shares of Gilead Sciences from $84.00 to $95.00 and gave the stock an “equal weight” rating in a report on Thursday, November 7th. BMO Capital Markets boosted their price objective on shares of Gilead Sciences from $94.00 to $102.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. increased their price objective on shares of Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Wolfe Research started coverage on Gilead Sciences in a report on Friday, November 15th. They set an “outperform” rating and a $110.00 target price for the company. Finally, Truist Financial increased their price target on Gilead Sciences from $83.00 to $97.00 and gave the stock a “hold” rating in a research report on Friday, November 8th. Twelve investment analysts have rated the stock with a hold rating, eleven have given a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $95.41.

Gilead Sciences Price Performance

Shares of NASDAQ:GILD opened at $90.19 on Friday. The business has a fifty day simple moving average of $87.43 and a 200 day simple moving average of $76.86. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $98.90. The firm has a market cap of $112.40 billion, a price-to-earnings ratio of 1,002.11, a P/E/G ratio of 2.78 and a beta of 0.17.

Gilead Sciences (NASDAQ:GILD) last released its quarterly earnings data 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 business had revenue of $7.55 billion during 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%. Gilead Sciences’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.29 EPS. As a group, sell-side analysts predict that Gilead Sciences, Inc. will post 4.38 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be paid a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.08 annualized dividend and a yield of 3.42%. Gilead Sciences’s dividend payout ratio is 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.