Gilead Sciences, Inc. (NASDAQ:GILD) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC trimmed its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 1.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 673,412 shares of the biopharmaceutical company’s stock after selling 12,164 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Gilead Sciences were worth $56,459,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Avior Wealth Management LLC increased its stake in Gilead Sciences by 1.2% during the 3rd quarter. Avior Wealth Management LLC now owns 9,422 shares of the biopharmaceutical company’s stock valued at $782,000 after buying an additional 108 shares during the period. Concord Asset Management LLC VA increased its stake in shares of Gilead Sciences by 3.8% during the third quarter. Concord Asset Management LLC VA now owns 3,056 shares of the biopharmaceutical company’s stock valued at $256,000 after acquiring an additional 111 shares during the period. TFB Advisors LLC raised its holdings in Gilead Sciences by 1.2% during the third quarter. TFB Advisors LLC now owns 9,397 shares of the biopharmaceutical company’s stock worth $788,000 after purchasing an additional 116 shares in the last quarter. Sumitomo Life Insurance Co. lifted its position in Gilead Sciences by 0.7% in the third quarter. Sumitomo Life Insurance Co. now owns 17,822 shares of the biopharmaceutical company’s stock worth $1,494,000 after purchasing an additional 117 shares during the period. Finally, FDx Advisors Inc. boosted its stake in Gilead Sciences by 2.2% during the 3rd quarter. FDx Advisors Inc. now owns 5,365 shares of the biopharmaceutical company’s stock valued at $450,000 after purchasing an additional 117 shares in the last quarter. 83.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Barclays boosted their price objective on Gilead Sciences from $84.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 7th. Royal Bank of Canada boosted their price target on shares of Gilead Sciences from $81.00 to $84.00 and gave the stock a “sector perform” rating in a research report on Monday, November 18th. Leerink Partnrs upgraded shares of Gilead Sciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 21st. Evercore ISI upgraded shares of Gilead Sciences to a “strong-buy” rating in a report on Friday, August 9th. Finally, UBS Group raised their target price on shares of Gilead Sciences from $70.00 to $96.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Twelve 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 MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $95.41.

Insider Transactions at Gilead Sciences

In other news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total transaction of $167,660.00. Following the transaction, the insider now owns 100,189 shares in the company, valued at $8,398,843.87. This represents a 1.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Johanna Mercier sold 29,357 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the transaction, the insider now owns 78,127 shares in the company, valued at $6,545,480.06. This represents a 27.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 227,946 shares of company stock valued at $20,683,305 in the last three months. Corporate insiders own 0.29% of the company’s stock.

Gilead Sciences Stock Performance

Shares of GILD opened at $94.02 on Tuesday. The company has a market capitalization of $117.17 billion, a PE ratio of 1,044.67, a PEG ratio of 2.87 and a beta of 0.18. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.10 and a current ratio of 1.26. The company’s 50 day moving average price is $88.26 and its 200 day moving average price is $77.84. Gilead Sciences, Inc. has a 52 week low of $62.07 and a 52 week high of $98.90.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 EPS 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 business had revenue of $7.55 billion for the quarter, compared to analysts’ expectations of $7.01 billion. During the same period in the previous year, the company posted $2.29 EPS. Gilead Sciences’s revenue was up 7.0% on a year-over-year basis. Research analysts expect that Gilead Sciences, Inc. will post 4.37 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be given a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend is Friday, December 13th. Gilead Sciences’s payout ratio is currently 3,422.22%.

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.