PFG Investments LLC Sells 1,399 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

PFG Investments LLC lowered its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 3.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 37,073 shares of the biopharmaceutical company’s stock after selling 1,399 shares during the period. PFG Investments LLC’s holdings in Gilead Sciences were worth $3,108,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Manning & Napier Advisors LLC purchased a new position in Gilead Sciences in the 2nd quarter worth approximately $25,328,000. Legal & General Group Plc grew its position in Gilead Sciences by 0.8% in 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. GSA Capital Partners LLP bought a new position in Gilead Sciences in the first quarter valued at $462,000. Wealth Enhancement Advisory Services LLC raised its position in Gilead Sciences by 13.1% during 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 purchasing an additional 33,162 shares in the last quarter. Finally, Cetera Investment Advisers lifted 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 worth $15,668,000 after purchasing an additional 119,909 shares during the last quarter. Institutional investors own 83.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GILD. JPMorgan Chase & Co. increased their price objective on Gilead Sciences from $95.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Barclays increased their price target on shares of Gilead Sciences from $76.00 to $84.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Royal Bank of Canada upped their price objective on shares of Gilead Sciences from $74.00 to $75.00 and gave the company a “sector perform” rating in a research note on Friday, October 4th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $70.00 target price on shares of Gilead Sciences in a report on Monday, September 16th. Finally, Truist Financial boosted their price target on shares of Gilead Sciences from $82.00 to $83.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Ten analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $86.85.

Insider Activity

In related news, insider Johanna Mercier sold 5,490 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total transaction 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Johanna Mercier sold 5,490 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total transaction of $406,150.20. Following the sale, the insider now owns 114,979 shares in the company, valued at approximately $8,506,146.42. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,847 shares of company stock worth $3,033,340. Corporate insiders own 0.16% of the company’s stock.

Gilead Sciences Trading Up 0.2 %

Shares of GILD traded up $0.22 during trading hours on Friday, reaching $89.00. 5,734,995 shares of the company traded hands, compared to its average volume of 7,043,532. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $89.74. The company has a market capitalization of $110.88 billion, a price-to-earnings ratio of 247.22, a price-to-earnings-growth ratio of 2.98 and a beta of 0.18. The company’s fifty day moving average price is $82.46 and its two-hundred day moving average price is $73.42. 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 posted its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.40. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. The business had revenue of $6.95 billion for the quarter, compared to analysts’ expectations of $6.64 billion. Equities research analysts predict that Gilead Sciences, Inc. will post 3.78 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 3.46%. The ex-dividend date was Friday, September 13th. Gilead Sciences’s dividend payout ratio is currently 855.56%.

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.