Nexus Investment Management ULC Sells 43,250 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Nexus Investment Management ULC lessened its stake in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 15.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 239,813 shares of the biopharmaceutical company's stock after selling 43,250 shares during the quarter. Gilead Sciences makes up 2.2% of Nexus Investment Management ULC's holdings, making the stock its 22nd biggest position. Nexus Investment Management ULC's holdings in Gilead Sciences were worth $22,152,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in GILD. Massachusetts Financial Services Co. MA increased its stake in shares of Gilead Sciences by 0.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 85,804 shares of the biopharmaceutical company's stock worth $5,887,000 after purchasing an additional 522 shares during the period. Seven Eight Capital LP bought a new position in Gilead Sciences during the 2nd quarter worth $525,000. MQS Management LLC lifted its holdings in shares of Gilead Sciences by 33.9% during the second quarter. MQS Management LLC now owns 4,573 shares of the biopharmaceutical company's stock worth $314,000 after buying an additional 1,157 shares in the last quarter. Ieq Capital LLC boosted its position in shares of Gilead Sciences by 3.7% in the second quarter. Ieq Capital LLC now owns 69,215 shares of the biopharmaceutical company's stock valued at $4,749,000 after acquiring an additional 2,453 shares during the period. Finally, Canada Pension Plan Investment Board grew its stake in shares of Gilead Sciences by 91.4% in the second quarter. Canada Pension Plan Investment Board now owns 2,699,863 shares of the biopharmaceutical company's stock valued at $185,238,000 after acquiring an additional 1,289,420 shares in the last quarter. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Gilead Sciences

In other news, insider Merdad Parsey sold 25,590 shares of the company's stock in a transaction that occurred on 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 directly owns 99,599 shares of the company's stock, valued at $9,113,308.50. This represents a 20.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Andrew D. Dickinson sold 248,645 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $92.76, for a total value of $23,064,310.20. Following the sale, the chief financial officer now directly owns 138,919 shares of the company's stock, valued at $12,886,126.44. The trade was a 64.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 456,234 shares of company stock valued at $42,130,461. 0.29% of the stock is owned by insiders.

Gilead Sciences Trading Up 0.2 %

GILD traded up $0.19 during trading on Friday, hitting $91.84. The company's stock had a trading volume of 6,852,085 shares, compared to its average volume of 5,370,915. The firm has a market capitalization of $114.46 billion, a P/E ratio of 1,020.44, a PEG ratio of 1.27 and a beta of 0.18. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $98.90. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 1.24. The stock's fifty day moving average price is $91.75 and its 200-day moving average price is $84.08.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.44. Gilead Sciences had a net margin of 0.45% and a return on equity of 29.00%. The firm had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.01 billion. During the same quarter in the prior year, the business earned $2.29 earnings per share. The business's quarterly revenue was up 7.0% compared to the same quarter last year. Analysts anticipate that Gilead Sciences, Inc. will post 4.36 EPS for the current year.

Gilead Sciences Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were issued a dividend of $0.77 per share. The ex-dividend date was Friday, December 13th. This represents a $3.08 annualized dividend and a yield of 3.35%. Gilead Sciences's dividend payout ratio (DPR) is currently 3,422.22%.

Analyst Ratings Changes

GILD has been the subject of several analyst reports. Citigroup assumed coverage on shares of Gilead Sciences in a research note on Thursday, November 14th. They issued a "buy" rating and a $125.00 price objective for the company. Robert W. Baird boosted their price target on Gilead Sciences from $80.00 to $95.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. Leerink Partnrs upgraded Gilead Sciences from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 21st. Maxim Group cut shares of Gilead Sciences from a "buy" rating to a "hold" rating in a research report on Friday, November 8th. Finally, Piper Sandler lifted their price target on Gilead Sciences from $95.00 to $105.00 and gave the company an "overweight" rating in a research note on Thursday, November 7th. Eleven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $97.96.

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.