Gilead Sciences, Inc. (NASDAQ:GILD) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. cut its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 2.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,452,283 shares of the biopharmaceutical company’s stock after selling 54,929 shares during the quarter. Envestnet Asset Management Inc. owned about 0.20% of Gilead Sciences worth $168,251,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. CarsonAllaria Wealth Management Ltd. increased its stake in shares of Gilead Sciences by 198.3% during the second quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 238 shares during the period. Palisade Asset Management LLC acquired a new position in shares of Gilead Sciences during the first quarter worth about $29,000. Sachetta LLC acquired a new position in shares of Gilead Sciences during the fourth quarter worth about $30,000. Financial Connections Group Inc. acquired a new position in shares of Gilead Sciences during the second quarter worth about $34,000. Finally, Frank Rimerman Advisors LLC acquired a new position in shares of Gilead Sciences during the fourth quarter worth about $36,000. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $68.63, for a total value of $137,260.00. Following the completion of the sale, the insider now owns 96,380 shares of the company’s stock, valued at $6,614,559.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Johanna Mercier sold 5,490 shares of the 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 $8,506,146.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Merdad Parsey sold 2,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $68.63, for a total transaction of $137,260.00. Following the completion of the sale, the insider now directly owns 96,380 shares of the company’s stock, valued at approximately $6,614,559.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 36,847 shares of company stock valued at $3,002,940. Insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on GILD shares. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a report on Thursday, August 15th. Evercore ISI raised shares of Gilead Sciences to a “strong-buy” rating in a report on Friday, August 9th. Cantor Fitzgerald reissued a “neutral” rating and set a $70.00 price objective on shares of Gilead Sciences in a report on Monday, September 9th. Royal Bank of Canada boosted their price objective on shares of Gilead Sciences from $72.00 to $74.00 and gave the stock a “sector perform” rating in a report on Wednesday, September 4th. Finally, Raymond James raised shares of 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 research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $82.06.

Gilead Sciences Stock Performance

Shares of GILD stock opened at $82.81 on Monday. Gilead Sciences, Inc. has a one year low of $62.07 and a one year high of $87.86. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.95 and a current ratio of 1.14. The company has a 50 day moving average price of $75.48 and a 200 day moving average price of $70.84. The firm has a market capitalization of $103.10 billion, a price-to-earnings ratio of 230.03, a price-to-earnings-growth ratio of 2.80 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last issued its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 EPS for the quarter, topping the consensus estimate of $1.61 by $0.40. Gilead Sciences had a net margin of 3.79% and a return on equity of 29.34%. The firm had revenue of $6.95 billion during the quarter, compared to analyst estimates of $6.64 billion. Sell-side analysts anticipate that Gilead Sciences, Inc. will post 3.78 EPS for the current year.

Gilead Sciences Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 3.72%. The ex-dividend date of this dividend is Friday, September 13th. Gilead Sciences’s dividend payout ratio (DPR) is 855.56%.

About Gilead Sciences

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.