Ontario Teachers Pension Plan Board Sells 42,207 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Ontario Teachers Pension Plan Board cut its holdings in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 63.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,965 shares of the biopharmaceutical company's stock after selling 42,207 shares during the period. Ontario Teachers Pension Plan Board's holdings in Gilead Sciences were worth $2,009,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of GILD. CarsonAllaria Wealth Management Ltd. grew its position in shares of Gilead Sciences by 198.3% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company's stock worth $25,000 after purchasing an additional 238 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of Gilead Sciences in the third quarter valued at approximately $25,000. Valued Wealth Advisors LLC grew its position in Gilead Sciences by 101.9% during the third quarter. Valued Wealth Advisors LLC now owns 319 shares of the biopharmaceutical company's stock worth $27,000 after buying an additional 161 shares in the last quarter. Cedar Wealth Management LLC increased its stake in Gilead Sciences by 51.6% during the 2nd quarter. Cedar Wealth Management LLC now owns 470 shares of the biopharmaceutical company's stock worth $32,000 after acquiring an additional 160 shares during the period. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of Gilead Sciences during the 2nd quarter valued at $33,000. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on GILD shares. Maxim Group downgraded Gilead Sciences from a "buy" rating to a "hold" rating in a research note on Friday, November 8th. Needham & Company LLC restated a "hold" rating on shares of Gilead Sciences in a research report on Thursday, November 7th. Piper Sandler increased their price target on shares of Gilead Sciences from $95.00 to $105.00 and gave the stock an "overweight" rating in a research report on Thursday, November 7th. Royal Bank of Canada lifted their price objective on shares of Gilead Sciences from $81.00 to $84.00 and gave the company a "sector perform" rating in a research note on Monday. Finally, Wells Fargo & Company upped their target price on Gilead Sciences from $100.00 to $105.00 and gave the stock an "overweight" rating in a research note 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. Based on data from MarketBeat.com, Gilead Sciences currently has a consensus rating of "Moderate Buy" and a consensus target price of $94.00.

Gilead Sciences Trading Up 1.0 %

Shares of NASDAQ GILD traded up $0.88 during midday trading on Wednesday, reaching $88.63. The stock had a trading volume of 4,553,040 shares, compared to its average volume of 7,105,782. The company's 50 day moving average price is $86.99 and its 200 day moving average price is $76.44. 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, Inc. has a twelve month low of $62.07 and a twelve month high of $98.90. The firm has a market cap of $110.46 billion, a price-to-earnings ratio of 975.00, a price-to-earnings-growth ratio of 2.74 and a beta of 0.17.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, topping analysts' consensus estimates of $1.58 by $0.44. The business had revenue of $7.55 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 7.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.29 earnings per share. As a group, sell-side analysts expect that Gilead Sciences, Inc. will post 4.38 EPS for the current year.

Gilead Sciences Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.77 per share. The ex-dividend date is Friday, December 13th. This represents a $3.08 annualized dividend and a dividend yield of 3.48%. Gilead Sciences's dividend payout ratio is currently 3,422.22%.

Insider Transactions at Gilead Sciences

In other news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction that occurred on 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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Johanna Mercier sold 29,357 shares of the business's stock in a transaction that occurred on 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 transaction, the insider now owns 78,127 shares in the company, valued at $6,545,480.06. The trade was a 27.31 % 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 90 days. 0.29% of the stock is currently owned by corporate insiders.

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.