Intech Investment Management LLC Decreases Stock Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

Intech Investment Management LLC lessened its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 29.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 192,549 shares of the biopharmaceutical company's stock after selling 81,835 shares during the quarter. Intech Investment Management LLC's holdings in Gilead Sciences were worth $16,143,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Legal & General Group Plc increased its position in shares of Gilead Sciences by 0.8% in the second quarter. Legal & General Group Plc now owns 12,414,268 shares of the biopharmaceutical company's stock worth $851,743,000 after acquiring an additional 93,068 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Gilead Sciences by 2.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 10,412,413 shares of the biopharmaceutical company's stock worth $714,421,000 after acquiring an additional 268,208 shares during the period. Pacer Advisors Inc. grew its position in Gilead Sciences by 24.7% in the second quarter. Pacer Advisors Inc. now owns 7,889,663 shares of the biopharmaceutical company's stock valued at $541,310,000 after acquiring an additional 1,564,792 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Gilead Sciences by 0.4% in the 3rd quarter. Van ECK Associates Corp now owns 6,342,831 shares of the biopharmaceutical company's stock valued at $553,285,000 after purchasing an additional 22,847 shares in the last quarter. Finally, Federated Hermes Inc. grew its stake in Gilead Sciences by 19.6% in the second quarter. Federated Hermes Inc. now owns 6,321,167 shares of the biopharmaceutical company's stock worth $433,695,000 after purchasing an additional 1,036,932 shares in the last quarter. 83.67% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Johanna Mercier sold 29,357 shares of the firm'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 sale, the insider now directly owns 78,127 shares of the company's stock, valued at approximately $6,545,480.06. This trade represents a 27.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Merdad Parsey sold 25,590 shares of Gilead Sciences stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total value of $2,341,485.00. Following the completion of the transaction, the insider now owns 99,599 shares in the company, valued at $9,113,308.50. The trade was a 20.44 % decrease in their ownership of the stock. 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 90 days. 0.16% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Royal Bank of Canada upped their price target on Gilead Sciences from $81.00 to $84.00 and gave the company a "sector perform" rating in a research report on Monday. Citigroup started coverage on shares of Gilead Sciences in a report on Thursday, November 14th. They issued a "buy" rating and a $125.00 price target for the company. Leerink Partnrs upgraded shares of Gilead Sciences from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 21st. Daiwa America raised Gilead Sciences to a "hold" rating in a report on Monday. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Gilead Sciences in a research report on Thursday, November 7th. Twelve investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $94.00.

Gilead Sciences Price Performance

GILD opened at $88.63 on Thursday. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $98.90. The stock has a fifty day moving average price of $87.15 and a 200 day moving average price of $76.52. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24. The stock has a market cap of $110.46 billion, a price-to-earnings ratio of 984.78, a PEG ratio of 2.72 and a beta of 0.17.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its quarterly 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. The business had revenue of $7.55 billion for 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 for the quarter was up 7.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.29 EPS. Analysts forecast that Gilead Sciences, Inc. will post 4.38 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

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

Gilead Sciences 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.

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