Gilead Sciences, Inc. (NASDAQ:GILD) Holdings Decreased by Raymond James & Associates

Raymond James & Associates reduced its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 18.2% in the 1st quarter, Holdings Channel reports. The fund owned 2,031,209 shares of the biopharmaceutical company’s stock after selling 452,231 shares during the period. Raymond James & Associates’ holdings in Gilead Sciences were worth $148,786,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Norges Bank acquired a new position in Gilead Sciences in the 4th quarter valued at approximately $1,301,624,000. The Manufacturers Life Insurance Company increased its position in Gilead Sciences by 78.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 7,632,000 shares of the biopharmaceutical company’s stock worth $618,268,000 after purchasing an additional 3,362,505 shares during the last quarter. Clearbridge Investments LLC raised its stake in shares of Gilead Sciences by 179.0% during the 3rd quarter. Clearbridge Investments LLC now owns 4,543,985 shares of the biopharmaceutical company’s stock worth $340,526,000 after purchasing an additional 2,915,141 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Gilead Sciences by 14.4% during the 4th quarter. Wellington Management Group LLP now owns 18,630,134 shares of the biopharmaceutical company’s stock valued at $1,509,227,000 after buying an additional 2,350,550 shares during the last quarter. Finally, abrdn plc grew its stake in shares of Gilead Sciences by 89.0% in the 4th quarter. abrdn plc now owns 3,764,107 shares of the biopharmaceutical company’s stock valued at $304,930,000 after buying an additional 1,772,887 shares in the last quarter. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Gilead Sciences Stock Performance

GILD stock traded up $0.52 on Monday, reaching $65.94. 7,838,371 shares of the company were exchanged, compared to its average volume of 7,481,456. The firm has a market capitalization of $82.10 billion, a PE ratio of 183.17, a PEG ratio of 1.29 and a beta of 0.19. Gilead Sciences, Inc. has a 12 month low of $64.63 and a 12 month high of $87.86. The stock’s fifty day moving average price is $71.16 and its 200 day moving average price is $76.17. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.98 and a quick ratio of 0.72.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.49) by $0.17. Gilead Sciences had a net margin of 1.76% and a return on equity of 24.34%. The company had revenue of $6.69 billion for the quarter, compared to analyst estimates of $6.36 billion. During the same period last year, the business posted $1.37 EPS. The business’s quarterly revenue was up 5.3% on a year-over-year basis. On average, research analysts anticipate that Gilead Sciences, Inc. will post 3.82 EPS for the current fiscal year.

Gilead Sciences Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Friday, June 14th will be given a $0.77 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.67%. Gilead Sciences’s dividend payout ratio is currently 855.56%.

Insiders Place Their Bets

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction on Monday, April 1st. The shares were sold at an average price of $72.96, for a total transaction of $145,920.00. Following the sale, the insider now owns 96,304 shares in the company, valued at $7,026,339.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

GILD has been the topic of several recent research reports. HSBC raised shares of Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 price objective on the stock in a research report on Wednesday, April 24th. TD Cowen reduced their price target on Gilead Sciences from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Friday. Oppenheimer reiterated an “outperform” rating and set a $105.00 price target on shares of Gilead Sciences in a research note on Friday, April 19th. Royal Bank of Canada cut their price objective on Gilead Sciences from $76.00 to $74.00 and set a “sector perform” rating on the stock in a research note on Friday. Finally, Morgan Stanley reduced their target price on Gilead Sciences from $80.00 to $78.00 and set an “equal weight” rating for the company in a report on Friday. Eleven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $83.60.

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.