TCW Group Inc. Sells 148,669 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

TCW Group Inc. reduced its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 83.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 29,934 shares of the biopharmaceutical company's stock after selling 148,669 shares during the quarter. TCW Group Inc.'s holdings in Gilead Sciences were worth $2,510,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Rehmann Capital Advisory Group lifted its stake in shares of Gilead Sciences by 3.6% in the third quarter. Rehmann Capital Advisory Group now owns 9,626 shares of the biopharmaceutical company's stock valued at $807,000 after buying an additional 333 shares in the last quarter. TD Private Client Wealth LLC raised its holdings in shares of Gilead Sciences by 10.6% in the 3rd quarter. TD Private Client Wealth LLC now owns 57,509 shares of the biopharmaceutical company's stock worth $4,822,000 after acquiring an additional 5,497 shares during the last quarter. TT International Asset Management LTD bought a new position in Gilead Sciences in the 3rd quarter valued at about $1,257,000. Coldstream Capital Management Inc. boosted its stake in Gilead Sciences by 9.8% during the 3rd quarter. Coldstream Capital Management Inc. now owns 22,882 shares of the biopharmaceutical company's stock valued at $1,932,000 after purchasing an additional 2,043 shares during the last quarter. Finally, Gould Capital LLC increased its holdings in Gilead Sciences by 22.2% during the 3rd quarter. Gould Capital LLC now owns 16,128 shares of the biopharmaceutical company's stock worth $1,352,000 after purchasing an additional 2,927 shares in the last quarter. Institutional investors own 83.67% of the company's stock.

Insider Activity at Gilead Sciences

In other news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total value of $167,660.00. Following the completion of the transaction, the insider now owns 100,189 shares of the company's stock, valued at $8,398,843.87. The trade was a 1.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Andrew D. Dickinson sold 248,645 shares of Gilead Sciences stock in a transaction on Friday, November 29th. The stock was sold at an average price of $92.76, for a total value of $23,064,310.20. Following the completion of the sale, the chief financial officer now directly owns 138,919 shares of the company's stock, valued at approximately $12,886,126.44. The trade was a 64.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 447,234 shares of company stock worth $41,288,086 in the last 90 days. Company insiders own 0.16% of the company's stock.

Analyst Ratings Changes

GILD has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their target price on Gilead Sciences from $100.00 to $105.00 and gave the company an "overweight" rating in a research report on Thursday, November 7th. Piper Sandler lifted their price objective on shares of Gilead Sciences from $95.00 to $105.00 and gave the stock an "overweight" rating in a report on Thursday, November 7th. Wolfe Research initiated coverage on shares of Gilead Sciences in a report on Friday, November 15th. They issued an "outperform" rating and a $110.00 target price for the company. Truist Financial raised their price target on shares of Gilead Sciences from $83.00 to $97.00 and gave the company a "hold" rating in a research report on Friday, November 8th. Finally, Barclays increased their price objective on shares of Gilead Sciences from $84.00 to $95.00 and gave the company an "equal weight" rating in a research note on Thursday, November 7th. Twelve equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $96.43.

Gilead Sciences Stock Performance

Shares of NASDAQ GILD traded up $0.24 during mid-day trading on Friday, hitting $91.86. The company had a trading volume of 6,888,210 shares, compared to its average volume of 7,068,425. 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 company has a market capitalization of $114.48 billion, a price-to-earnings ratio of 1,026.44, a P/E/G ratio of 2.38 and a beta of 0.18. The stock's 50-day moving average price is $89.82 and its 200-day moving average price is $79.26.

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, beating analysts' consensus estimates of $1.58 by $0.44. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The business had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.01 billion. During the same quarter in the previous year, the firm earned $2.29 EPS. The company's quarterly revenue was up 7.0% compared to the same quarter last year. On average, sell-side analysts forecast that Gilead Sciences, Inc. will post 4.35 earnings per share for the current year.

Gilead Sciences Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend is Friday, December 13th. Gilead Sciences's payout ratio 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.