Gilead Sciences, Inc. (NASDAQ:GILD) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. reduced its position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 6.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 254,836 shares of the biopharmaceutical company's stock after selling 18,896 shares during the quarter. Advisors Asset Management Inc.'s holdings in Gilead Sciences were worth $21,365,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Commerce Bank boosted its position in Gilead Sciences by 10.8% during the third quarter. Commerce Bank now owns 72,494 shares of the biopharmaceutical company's stock worth $6,078,000 after acquiring an additional 7,055 shares during the last quarter. Prospera Private Wealth LLC lifted its stake in Gilead Sciences by 18.9% in the 3rd quarter. Prospera Private Wealth LLC now owns 15,144 shares of the biopharmaceutical company's stock worth $1,270,000 after purchasing an additional 2,407 shares in the last quarter. Avior Wealth Management LLC boosted its holdings in shares of Gilead Sciences by 1.2% during the 3rd quarter. Avior Wealth Management LLC now owns 9,422 shares of the biopharmaceutical company's stock worth $782,000 after purchasing an additional 108 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of Gilead Sciences by 7.5% in the third quarter. PNC Financial Services Group Inc. now owns 390,175 shares of the biopharmaceutical company's stock valued at $32,712,000 after purchasing an additional 27,283 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Gilead Sciences in the third quarter valued at approximately $9,516,000. Hedge funds and other institutional investors own 83.67% of the company's stock.

Insider Activity

In related news, insider Johanna Mercier sold 29,357 shares of Gilead Sciences stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total value of $2,459,529.46. Following the transaction, the insider now directly owns 78,127 shares in the company, valued at $6,545,480.06. This trade represents a 27.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Merdad Parsey sold 25,590 shares of the firm's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total transaction of $2,341,485.00. Following the completion of the sale, the insider now owns 99,599 shares of the company's stock, valued at $9,113,308.50. This trade represents a 20.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,947 shares of company stock valued at $4,968,674 in the last ninety days. 0.29% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. BMO Capital Markets boosted their price objective on Gilead Sciences from $94.00 to $102.00 and gave the stock an "outperform" rating in a research note on Thursday, November 7th. Leerink Partnrs raised shares of Gilead Sciences from a "hold" rating to a "strong-buy" rating in a report on Monday, October 21st. Sanford C. Bernstein assumed coverage on shares of Gilead Sciences in a research report on Thursday, October 17th. They set an "outperform" rating and a $105.00 price objective for the company. Robert W. Baird boosted their target price on shares of Gilead Sciences from $80.00 to $95.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. Finally, Cantor Fitzgerald raised their price target on shares of Gilead Sciences from $70.00 to $80.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Eleven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $94.00.

Gilead Sciences Stock Up 1.0 %

Shares of GILD stock traded up $0.88 during trading hours on Wednesday, reaching $88.63. 4,553,040 shares of the stock were exchanged, compared to its average volume of 7,105,782. Gilead Sciences, Inc. has a 12-month low of $62.07 and a 12-month high of $98.90. The business's fifty day moving average is $86.99 and its two-hundred day moving average is $76.44. The firm has a market capitalization of $110.46 billion, a P/E ratio of 975.00, a P/E/G ratio of 2.74 and a beta of 0.17. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.26 and a quick ratio of 1.10.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.44. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The firm had revenue of $7.55 billion during the quarter, compared to analysts' expectations of $7.01 billion. During the same quarter in the previous year, the business earned $2.29 earnings per share. The firm's revenue was up 7.0% compared to the same quarter last year. As a group, research analysts expect that Gilead Sciences, Inc. will post 4.38 EPS 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. Shareholders of record on Friday, December 13th will be given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend is Friday, December 13th. Gilead Sciences's dividend payout ratio (DPR) is 3,422.22%.

Gilead Sciences Company 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.