Gilead Sciences, Inc. (NASDAQ:GILD) Stock Position Reduced by Belmont Capital LLC

Belmont Capital LLC lessened its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 46.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,412 shares of the biopharmaceutical company's stock after selling 10,900 shares during the period. Belmont Capital LLC's holdings in Gilead Sciences were worth $1,041,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Manning & Napier Advisors LLC acquired a new position in Gilead Sciences during the second quarter worth approximately $25,328,000. Legal & General Group Plc increased its position in 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 buying an additional 93,068 shares during the period. IRON Financial LLC acquired a new position in Gilead Sciences during the third quarter worth approximately $830,000. Wealth Enhancement Advisory Services LLC increased 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 worth $19,630,000 after buying an additional 33,162 shares during the period. Finally, Cetera Investment Advisers increased its position 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 buying an additional 119,909 shares during the period. Institutional investors and hedge funds own 83.67% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Evercore ISI raised Gilead Sciences to a "strong-buy" rating in a report on Friday, August 9th. Oppenheimer boosted their target price on Gilead Sciences from $95.00 to $105.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. Needham & Company LLC reissued a "hold" rating on shares of Gilead Sciences in a report on Thursday, November 7th. Robert W. Baird boosted their target price on Gilead Sciences from $80.00 to $95.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. Finally, Royal Bank of Canada lifted their price target on Gilead Sciences from $81.00 to $84.00 and gave the company a "sector perform" rating in a research note on Monday. Eleven research 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. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $94.00.

Insider Transactions at Gilead Sciences

In other news, insider Johanna Mercier sold 29,357 shares of the company's stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $83.78, for a total value of $2,459,529.46. Following the completion of the sale, the insider now owns 78,127 shares of the company's stock, valued at $6,545,480.06. This represents a 27.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Merdad Parsey sold 2,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were 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 directly owns 100,189 shares of the company's stock, valued at $8,398,843.87. This represents a 1.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 56,947 shares of company stock valued at $4,968,674 over the last quarter. Company insiders own 0.29% of the company's stock.

Gilead Sciences Trading Down 0.8 %

Gilead Sciences stock traded down $0.71 during trading on Tuesday, hitting $87.75. The company's stock had a trading volume of 8,171,754 shares, compared to its average volume of 7,116,128. The stock has a market capitalization of $109.36 billion, a price-to-earnings ratio of 975.00, a P/E/G ratio of 2.74 and a beta of 0.17. The stock's fifty day moving average is $86.99 and its 200 day moving average is $76.44. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $98.90. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.10 and a current ratio of 1.26.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, topping the consensus estimate of $1.58 by $0.44. The company had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.01 billion. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The firm's revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.29 earnings per share. As a group, equities research analysts predict that Gilead Sciences, Inc. will post 4.38 EPS for the current year.

Gilead Sciences Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be given a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 3.51%. 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.