TCTC Holdings LLC Reduces Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

TCTC Holdings LLC lowered its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 35.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,513 shares of the biopharmaceutical company’s stock after selling 1,380 shares during the quarter. TCTC Holdings LLC’s holdings in Gilead Sciences were worth $211,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Gilead Sciences by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 114,732,575 shares of the biopharmaceutical company’s stock valued at $8,404,161,000 after buying an additional 2,910,147 shares during the period. Capital World Investors increased its holdings in Gilead Sciences by 1.4% during the 1st quarter. Capital World Investors now owns 84,497,404 shares of the biopharmaceutical company’s stock worth $6,189,435,000 after purchasing an additional 1,133,281 shares during the period. Capital Research Global Investors raised its position in Gilead Sciences by 2.7% during the 1st quarter. Capital Research Global Investors now owns 61,246,366 shares of the biopharmaceutical company’s stock valued at $4,486,296,000 after purchasing an additional 1,589,240 shares in the last quarter. Legal & General Group Plc grew its position in shares of Gilead Sciences by 0.8% during the 2nd quarter. Legal & General Group Plc now owns 12,414,268 shares of the biopharmaceutical company’s stock worth $851,743,000 after buying an additional 93,068 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Gilead Sciences by 2.6% during the second quarter. Dimensional Fund Advisors LP now owns 10,412,413 shares of the biopharmaceutical company’s stock valued at $714,421,000 after buying an additional 268,208 shares during the period. Institutional investors own 83.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GILD. Sanford C. Bernstein started coverage on shares of Gilead Sciences in a report on Thursday, October 17th. They set an “outperform” rating and a $105.00 target price on the stock. Royal Bank of Canada lifted their price objective on shares of Gilead Sciences from $75.00 to $81.00 and gave the company a “sector perform” rating in a report on Thursday. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research report on Thursday. Truist Financial lifted their price target on Gilead Sciences from $83.00 to $97.00 and gave the company a “hold” rating in a report on Friday. Finally, The Goldman Sachs Group raised their price objective on Gilead Sciences from $74.00 to $84.00 and gave the company a “neutral” rating in a research report on Thursday. Eleven analysts have rated the stock with a hold rating, ten have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $91.50.

Gilead Sciences Stock Performance

GILD opened at $96.57 on Friday. The stock has a market cap of $120.22 billion, a P/E ratio of 1,072.94, a P/E/G ratio of 3.19 and a beta of 0.17. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.14 and a quick ratio of 0.95. The firm has a fifty day moving average price of $85.30 and a 200 day moving average price of $75.03. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $98.32.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.44. Gilead Sciences had a net margin of 0.45% and a return on equity of 28.60%. The business had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.01 billion. During the same quarter in the prior year, the firm posted $2.29 earnings per share. The company’s revenue was up 7.0% compared to the same quarter last year. Equities research analysts anticipate that Gilead Sciences, Inc. will post 3.76 earnings per share for the current year.

Gilead Sciences Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date is Friday, December 13th. Gilead Sciences’s dividend payout ratio (DPR) is presently 3,422.22%.

Insider Activity

In related news, insider Johanna Mercier sold 5,490 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total value of $406,150.20. Following the completion of the sale, the insider now owns 114,979 shares of the company’s stock, valued at approximately $8,506,146.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Merdad Parsey sold 25,590 shares of the stock in a transaction 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 approximately $9,113,308.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Johanna Mercier sold 5,490 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total transaction of $406,150.20. Following the completion of the sale, the insider now owns 114,979 shares of the company’s stock, valued at $8,506,146.42. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 62,437 shares of company stock worth $5,374,825 in the last quarter. Corporate insiders own 0.16% of the company’s stock.

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.