ProShare Advisors LLC Trims Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

ProShare Advisors LLC decreased its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 9.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,346,667 shares of the biopharmaceutical company’s stock after selling 134,320 shares during the period. ProShare Advisors LLC’s holdings in Gilead Sciences were worth $92,395,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of GILD. Institute for Wealth Management LLC. grew its position in shares of Gilead Sciences by 1.9% in the second quarter. Institute for Wealth Management LLC. now owns 7,551 shares of the biopharmaceutical company’s stock valued at $518,000 after purchasing an additional 142 shares in the last quarter. First Affirmative Financial Network boosted its holdings in Gilead Sciences by 3.5% in the 1st quarter. First Affirmative Financial Network now owns 4,342 shares of the biopharmaceutical company’s stock valued at $318,000 after purchasing an additional 147 shares during the last quarter. Rathbones Group PLC grew its stake in shares of Gilead Sciences by 3.7% in the 4th quarter. Rathbones Group PLC now owns 4,185 shares of the biopharmaceutical company’s stock valued at $339,000 after buying an additional 150 shares during the period. MCF Advisors LLC increased its holdings in shares of Gilead Sciences by 2.1% during the 1st quarter. MCF Advisors LLC now owns 7,348 shares of the biopharmaceutical company’s stock worth $538,000 after buying an additional 152 shares during the last quarter. Finally, Westside Investment Management Inc. raised its position in shares of Gilead Sciences by 0.6% during the 2nd quarter. Westside Investment Management Inc. now owns 26,526 shares of the biopharmaceutical company’s stock valued at $1,826,000 after buying an additional 152 shares during the period. Institutional investors own 83.67% of the company’s stock.

Wall Street Analyst Weigh In

GILD has been the subject of several analyst reports. Evercore ISI upgraded Gilead Sciences to a “strong-buy” rating in a research report on Friday, August 9th. Raymond James raised Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price objective for the company in a research report on Monday, July 8th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $70.00 target price on shares of Gilead Sciences in a research report on Monday, September 16th. Truist Financial lifted their price target on shares of Gilead Sciences from $82.00 to $83.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Finally, Piper Sandler restated an “overweight” rating and issued a $95.00 price objective on shares of Gilead Sciences in a report on Wednesday, September 11th. Twelve investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.06.

Insider Buying and Selling at Gilead Sciences

In other news, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 96,380 shares of the company’s stock, valued at approximately $6,614,559.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Gilead Sciences news, insider Johanna Mercier sold 29,357 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total value of $2,459,529.46. Following the completion of the transaction, the insider now owns 78,127 shares in the company, valued at $6,545,480.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Merdad Parsey sold 2,000 shares of Gilead Sciences 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 owns 96,380 shares in the company, valued at approximately $6,614,559.40. The disclosure for this sale can be found here. Insiders have sold a total of 36,847 shares of company stock worth $3,002,940 over the last ninety days. Corporate insiders own 0.16% of the company’s stock.

Gilead Sciences Price Performance

GILD stock opened at $83.94 on Friday. The business’s 50-day moving average is $76.95 and its two-hundred day moving average is $71.25. 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 market capitalization of $104.58 billion, a P/E ratio of 233.17, a P/E/G ratio of 2.80 and a beta of 0.18. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $87.86.

Gilead Sciences (NASDAQ:GILD) last issued its earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $6.64 billion. Analysts anticipate that Gilead Sciences, Inc. will post 3.78 earnings per share for the current fiscal year.

Gilead Sciences Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 3.67%. The ex-dividend date is Friday, September 13th. Gilead Sciences’s dividend payout ratio (DPR) is presently 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.