King Luther Capital Management Corp Sells 3,753 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

King Luther Capital Management Corp lowered its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 25.0% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 11,285 shares of the biopharmaceutical company’s stock after selling 3,753 shares during the quarter. King Luther Capital Management Corp’s holdings in Gilead Sciences were worth $774,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Gilbert & Cook Inc. lifted its stake in shares of Gilead Sciences by 5.3% in the 4th quarter. Gilbert & Cook Inc. now owns 6,791 shares of the biopharmaceutical company’s stock worth $550,000 after purchasing an additional 344 shares during the period. Aveo Capital Partners LLC raised its position in Gilead Sciences by 8.6% in the fourth quarter. Aveo Capital Partners LLC now owns 5,473 shares of the biopharmaceutical company’s stock worth $443,000 after acquiring an additional 435 shares during the period. TrinityPoint Wealth LLC boosted its stake in shares of Gilead Sciences by 2.9% during the 4th quarter. TrinityPoint Wealth LLC now owns 5,708 shares of the biopharmaceutical company’s stock worth $462,000 after acquiring an additional 159 shares during the last quarter. Commerce Bank grew its position in shares of Gilead Sciences by 0.3% during the 4th quarter. Commerce Bank now owns 64,218 shares of the biopharmaceutical company’s stock valued at $5,202,000 after acquiring an additional 203 shares during the period. Finally, Congress Wealth Management LLC DE increased its stake in shares of Gilead Sciences by 6.6% in the 4th quarter. Congress Wealth Management LLC DE now owns 5,972 shares of the biopharmaceutical company’s stock worth $484,000 after purchasing an additional 371 shares in the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Raymond James upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 target price on the stock in a research report on Monday, July 8th. Truist Financial boosted their price objective on Gilead Sciences from $82.00 to $83.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a report on Thursday, August 15th. Royal Bank of Canada lifted their price target on shares of Gilead Sciences from $72.00 to $74.00 and gave the company a “sector perform” rating in a report on Wednesday, September 4th. Finally, BMO Capital Markets increased their price objective on shares of Gilead Sciences from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Twelve equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $82.06.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences 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 transaction, 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 Securities & Exchange Commission, which is accessible through this link. In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 96,380 shares in the company, valued at $6,614,559.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Johanna Mercier sold 29,357 shares of Gilead Sciences stock in a transaction that occurred on Thursday, September 12th. The stock was 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 of the company’s stock, valued at approximately $6,545,480.06. The disclosure for this sale can be found here. Insiders have sold a total of 36,847 shares of company stock valued at $3,002,940 over the last 90 days. 0.16% of the stock is owned by corporate insiders.

Gilead Sciences Trading Up 0.0 %

Shares of Gilead Sciences stock opened at $83.94 on Monday. Gilead Sciences, Inc. has a twelve month low of $62.07 and a twelve month high of $87.86. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 1.18. The business has a 50-day moving average price of $76.95 and a 200-day moving average price of $71.24. The firm has a market cap of $104.58 billion, a price-to-earnings ratio of 233.17, a PEG ratio of 2.80 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last released its quarterly 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 return on equity of 29.34% and a net margin of 3.79%. The business had revenue of $6.95 billion during the quarter, compared to analysts’ expectations of $6.64 billion. Equities research analysts anticipate that Gilead Sciences, Inc. will post 3.78 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The firm 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 $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 3.67%. The ex-dividend date of this dividend is Friday, September 13th. Gilead Sciences’s dividend payout ratio is presently 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.