Impax Asset Management Group plc Reduces Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Impax Asset Management Group plc decreased its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 4.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 167,742 shares of the biopharmaceutical company's stock after selling 7,979 shares during the period. Impax Asset Management Group plc's holdings in Gilead Sciences were worth $14,063,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GILD. TFB Advisors LLC lifted its stake in shares of Gilead Sciences by 1.2% in the 3rd quarter. TFB Advisors LLC now owns 9,397 shares of the biopharmaceutical company's stock worth $788,000 after acquiring an additional 116 shares during the period. Sumitomo Life Insurance Co. boosted its holdings in Gilead Sciences by 0.7% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 17,822 shares of the biopharmaceutical company's stock valued at $1,494,000 after purchasing an additional 117 shares in the last quarter. FDx Advisors Inc. increased its position in Gilead Sciences by 2.2% during the 3rd quarter. FDx Advisors Inc. now owns 5,365 shares of the biopharmaceutical company's stock worth $450,000 after purchasing an additional 117 shares during the period. Sivia Capital Partners LLC increased its position in Gilead Sciences by 3.9% during the 3rd quarter. Sivia Capital Partners LLC now owns 3,249 shares of the biopharmaceutical company's stock worth $272,000 after purchasing an additional 123 shares during the period. Finally, Roberts Wealth Advisors LLC raised its stake in shares of Gilead Sciences by 1.9% during the 3rd quarter. Roberts Wealth Advisors LLC now owns 7,035 shares of the biopharmaceutical company's stock worth $599,000 after buying an additional 130 shares in the last quarter. Hedge funds and other institutional investors own 83.67% of the company's stock.

Insider Activity

In related news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction 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 in the company, valued at approximately $8,398,843.87. This represents a 1.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Johanna Mercier sold 29,357 shares of the business'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 transaction, the insider now owns 78,127 shares in the company, valued at approximately $6,545,480.06. This represents 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 three months. Corporate insiders own 0.16% of the company's stock.

Gilead Sciences Trading Down 4.0 %

GILD traded down $3.71 during midday trading on Friday, hitting $88.40. The company's stock had a trading volume of 11,454,518 shares, compared to its average volume of 7,102,436. Gilead Sciences, Inc. has a 52-week low of $62.07 and a 52-week high of $98.90. The firm has a 50-day moving average price of $86.68 and a two-hundred day moving average price of $75.96. The company has a current ratio of 1.26, a quick ratio of 0.82 and a debt-to-equity ratio of 1.24. The firm has a market cap of $110.17 billion, a P/E ratio of 982.22, a PEG ratio of 2.85 and a beta of 0.17.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.58 by $0.44. The firm had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.01 billion. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. Gilead Sciences's revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.29 earnings per share. On average, research analysts anticipate that Gilead Sciences, Inc. will post 4.39 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. Stockholders of record on Friday, December 13th will be issued a $0.77 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.48%. Gilead Sciences's dividend payout ratio (DPR) is 3,422.22%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GILD. Maxim Group lowered Gilead Sciences from a "buy" rating to a "hold" rating in a report on Friday, November 8th. BMO Capital Markets upped their price target on shares of Gilead Sciences from $94.00 to $102.00 and gave the stock an "outperform" rating in a research note on Thursday, November 7th. Truist Financial raised their price objective on shares of Gilead Sciences from $83.00 to $97.00 and gave the company a "hold" rating in a research note on Friday, November 8th. The Goldman Sachs Group increased their target price on shares of Gilead Sciences from $74.00 to $84.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. Finally, Wolfe Research started coverage on shares of Gilead Sciences in a research report on Friday. They set an "outperform" rating and a $110.00 price target for the company. Eleven analysts have rated the stock with a hold rating, eleven have issued a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Gilead Sciences presently has a consensus rating of "Moderate Buy" and a consensus target price of $93.86.

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.