Parnassus Investments LLC Lowers Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Parnassus Investments LLC cut its holdings in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 19.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,151,874 shares of the biopharmaceutical company's stock after selling 280,937 shares during the period. Parnassus Investments LLC owned approximately 0.09% of Gilead Sciences worth $96,573,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in GILD. Concord Asset Management LLC VA increased its stake in shares of Gilead Sciences by 3.8% in the third quarter. Concord Asset Management LLC VA now owns 3,056 shares of the biopharmaceutical company's stock worth $256,000 after buying an additional 111 shares during the period. TFB Advisors LLC grew its holdings in 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 last quarter. Sumitomo Life Insurance Co. increased its position in shares of Gilead Sciences by 0.7% in the third quarter. Sumitomo Life Insurance Co. now owns 17,822 shares of the biopharmaceutical company's stock valued at $1,494,000 after acquiring an additional 117 shares during the period. FDx Advisors Inc. increased its position in shares of Gilead Sciences by 2.2% in the third quarter. FDx Advisors Inc. now owns 5,365 shares of the biopharmaceutical company's stock valued at $450,000 after acquiring an additional 117 shares during the period. Finally, Sivia Capital Partners LLC raised its stake in shares of Gilead Sciences by 3.9% during the third quarter. Sivia Capital Partners LLC now owns 3,249 shares of the biopharmaceutical company's stock valued at $272,000 after acquiring an additional 123 shares during the last quarter. 83.67% of the stock is currently owned by hedge funds and other institutional investors.

Gilead Sciences Stock Down 0.8 %

GILD stock traded down $0.71 during midday trading on Tuesday, hitting $87.75. The company's stock had a trading volume of 8,171,754 shares, compared to its average volume of 7,116,128. The firm's 50-day moving average is $86.87 and its 200-day moving average is $76.27. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 1.24. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $98.90. The company has a market cap of $109.36 billion, a PE ratio of 982.89, a P/E/G ratio of 2.74 and a beta of 0.17.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS for the quarter, topping the consensus estimate of $1.58 by $0.44. The company 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%. Gilead Sciences's revenue for the quarter was up 7.0% on a year-over-year basis. During the same period last year, the company earned $2.29 EPS. On average, equities research analysts forecast that Gilead Sciences, Inc. will post 4.38 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 3.51%. The ex-dividend date is Friday, December 13th. Gilead Sciences's dividend payout ratio is currently 3,422.22%.

Insiders Place Their Bets

In other Gilead Sciences news, 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 transaction of $2,459,529.46. Following the completion of the sale, the insider now directly owns 78,127 shares in the company, valued at $6,545,480.06. The trade was a 27.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Merdad Parsey sold 25,590 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $91.50, for a total transaction 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. This trade represents a 20.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,947 shares of company stock valued at $4,968,674. Company insiders own 0.29% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Royal Bank of Canada raised their target price on Gilead Sciences from $81.00 to $84.00 and gave the stock a "sector perform" rating in a research note on Monday. Oppenheimer boosted their target price on Gilead Sciences from $95.00 to $105.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Citigroup started coverage on Gilead Sciences in a research note on Thursday, November 14th. They issued a "buy" rating and a $125.00 price target for the company. BMO Capital Markets boosted their price objective on shares of Gilead Sciences from $94.00 to $102.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Gilead Sciences in a research report on Thursday, November 7th. Eleven research analysts have rated the stock with a hold rating, eleven have given a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $94.00.

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.