Great Valley Advisor Group Inc. Reduces Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Great Valley Advisor Group Inc. lowered its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 17.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,994 shares of the biopharmaceutical company’s stock after selling 1,266 shares during the period. Great Valley Advisor Group Inc.’s holdings in Gilead Sciences were worth $411,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of GILD. Norges Bank purchased a new position in Gilead Sciences during the 4th quarter valued at about $1,301,624,000. The Manufacturers Life Insurance Company increased its stake in Gilead Sciences by 78.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 7,632,000 shares of the biopharmaceutical company’s stock valued at $618,268,000 after purchasing an additional 3,362,505 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Gilead Sciences by 2.6% during the first quarter. Vanguard Group Inc. now owns 114,732,575 shares of the biopharmaceutical company’s stock valued at $8,404,161,000 after acquiring an additional 2,910,147 shares during the period. Wellington Management Group LLP lifted its holdings in Gilead Sciences by 14.4% in the fourth quarter. Wellington Management Group LLP now owns 18,630,134 shares of the biopharmaceutical company’s stock worth $1,509,227,000 after purchasing an additional 2,350,550 shares during the period. Finally, Swedbank AB bought a new stake in Gilead Sciences in the first quarter worth about $134,489,000. Institutional investors and hedge funds own 83.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GILD. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $70.00 price target on shares of Gilead Sciences in a report on Friday, August 9th. HSBC upgraded Gilead Sciences from a “reduce” rating to a “hold” rating and set a $69.00 price objective for the company in a research report on Wednesday, April 24th. TD Cowen dropped their target price on Gilead Sciences from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, April 26th. Maxim Group decreased their target price on Gilead Sciences from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Finally, Raymond James upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price target on the stock in a report on Monday, July 8th. Twelve investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $81.88.

Insider Buying and Selling

In other news, insider Johanna Mercier sold 5,490 shares of Gilead Sciences stock in a transaction that occurred on 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 transaction, the insider now directly owns 114,979 shares of the company’s stock, valued at approximately $8,506,146.42. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was 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 filing with the SEC, which can be accessed through this link. Also, insider Johanna Mercier sold 5,490 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $73.98, for a total value of $406,150.20. Following the sale, the insider now owns 114,979 shares in the company, valued at $8,506,146.42. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by insiders.

Gilead Sciences Stock Performance

NASDAQ GILD opened at $74.14 on Thursday. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.08 and a quick ratio of 0.94. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $87.86. The company’s 50 day simple moving average is $70.41 and its two-hundred day simple moving average is $70.32. The stock has a market capitalization of $92.37 billion, a PE ratio of 205.94, a P/E/G ratio of 3.37 and a beta of 0.18.

Gilead Sciences Announces Dividend

The company also recently announced 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 4.15%. The ex-dividend date of this dividend is Friday, September 13th. Gilead Sciences’s dividend payout ratio is currently 855.56%.

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.