Gilead Sciences, Inc. (NASDAQ:GILD) Shares Sold by Amalgamated Bank

Amalgamated Bank lowered its position in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 2.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 251,858 shares of the biopharmaceutical company's stock after selling 6,342 shares during the period. Amalgamated Bank's holdings in Gilead Sciences were worth $17,280,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. CarsonAllaria Wealth Management Ltd. raised its position in Gilead Sciences by 198.3% during the second quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company's stock worth $25,000 after acquiring an additional 238 shares during the period. Palisade Asset Management LLC purchased a new position in Gilead Sciences in the 1st quarter valued at about $29,000. Sachetta LLC acquired a new stake in Gilead Sciences in the 4th quarter worth about $30,000. Financial Connections Group Inc. purchased a new stake in Gilead Sciences during the 2nd quarter worth approximately $34,000. Finally, Frank Rimerman Advisors LLC acquired a new position in shares of Gilead Sciences during the fourth quarter valued at approximately $36,000. 83.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the company. Royal Bank of Canada boosted their price target on Gilead Sciences from $72.00 to $74.00 and gave the stock a "sector perform" rating in a research report on Wednesday, September 4th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $70.00 target price on shares of Gilead Sciences in a research report on Monday. Needham & Company LLC restated a "hold" rating on shares of Gilead Sciences in a research report on Thursday, August 15th. Evercore ISI upgraded shares of Gilead Sciences to a "strong-buy" rating in a report on Friday, August 9th. Finally, Piper Sandler restated an "overweight" rating and set a $95.00 target price on shares of Gilead Sciences in a report on Wednesday, September 11th. Twelve equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $82.06.

Insider Activity at Gilead Sciences

In other news, insider Johanna Mercier sold 5,490 shares of the company's stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total transaction of $406,150.20. Following the sale, the insider now owns 114,979 shares of the company's stock, valued at $8,506,146.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $68.63, for a total value of $137,260.00. Following the sale, the insider now directly owns 96,380 shares of the company's stock, valued at approximately $6,614,559.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Johanna Mercier sold 5,490 shares of Gilead Sciences stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total transaction of $406,150.20. Following the sale, the insider now directly owns 114,979 shares of the company's stock, valued at $8,506,146.42. The disclosure for this sale can be found here. Over the last quarter, insiders sold 36,847 shares of company stock worth $3,002,940. Corporate insiders own 0.16% of the company's stock.

Gilead Sciences Trading Up 1.0 %

Shares of NASDAQ:GILD traded up $0.84 during mid-day trading on Wednesday, reaching $83.89. 9,196,430 shares of the company were exchanged, compared to its average volume of 7,182,933. The firm has a market cap of $104.51 billion, a price-to-earnings ratio of 234.19, a P/E/G ratio of 2.80 and a beta of 0.18. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.14 and a quick ratio of 0.95. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $87.86. The firm's 50-day simple moving average is $76.09 and its 200 day simple moving average is $71.00.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, beating analysts' consensus estimates of $1.61 by $0.40. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. The business had revenue of $6.95 billion during the quarter, compared to analysts' expectations of $6.64 billion. Equities research analysts forecast that Gilead Sciences, Inc. will post 3.78 EPS for the current year.

Gilead Sciences Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend is Friday, September 13th. Gilead Sciences's payout ratio is 855.56%.

About Gilead Sciences

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.