NewEdge Advisors LLC Sells 5,307 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

NewEdge Advisors LLC lowered its position in Gilead Sciences, Inc. (NASDAQ:GILD) by 8.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 55,118 shares of the biopharmaceutical company’s stock after selling 5,307 shares during the period. NewEdge Advisors LLC’s holdings in Gilead Sciences were worth $3,782,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Institute for Wealth Management LLC. lifted its holdings 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 lifted its holdings in shares of Gilead Sciences by 3.5% in the first 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 in the last quarter. Insigneo Advisory Services LLC lifted its holdings in shares of Gilead Sciences by 1.7% in the second quarter. Insigneo Advisory Services LLC now owns 8,830 shares of the biopharmaceutical company’s stock valued at $661,000 after purchasing an additional 148 shares in the last quarter. MCF Advisors LLC lifted its holdings in shares of Gilead Sciences by 2.1% in the first quarter. MCF Advisors LLC now owns 7,348 shares of the biopharmaceutical company’s stock valued at $538,000 after purchasing an additional 152 shares in the last quarter. Finally, Westside Investment Management Inc. lifted its holdings in shares of Gilead Sciences by 0.6% in the second quarter. Westside Investment Management Inc. now owns 26,526 shares of the biopharmaceutical company’s stock valued at $1,826,000 after purchasing an additional 152 shares in the last quarter. Institutional investors own 83.67% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on GILD shares. Cantor Fitzgerald restated a “neutral” rating and issued a $70.00 target price on shares of Gilead Sciences in a report on Monday, September 16th. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research report on Thursday, August 15th. Robert W. Baird reaffirmed a “neutral” rating and set a $80.00 price target on shares of Gilead Sciences in a research report on Thursday, June 20th. Royal Bank of Canada increased their price target on Gilead Sciences from $72.00 to $74.00 and gave the company a “sector perform” rating in a research report on Wednesday, September 4th. Finally, Evercore ISI raised Gilead Sciences to a “strong-buy” rating in a research report on Friday, August 9th. Twelve equities 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 has an average rating of “Moderate Buy” and a consensus target price of $82.06.

Insider Activity

In other news, insider Johanna Mercier sold 5,490 shares of Gilead Sciences stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $73.98, for a total value of $406,150.20. Following the completion of the transaction, the insider now directly owns 114,979 shares in the company, valued at $8,506,146.42. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Merdad Parsey sold 2,000 shares of Gilead Sciences stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $83.83, for a total transaction of $167,660.00. Following the completion of the sale, the insider now owns 100,189 shares of the company’s stock, valued at $8,398,843.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Johanna Mercier sold 5,490 shares of Gilead Sciences 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 sale, the insider now directly owns 114,979 shares of the company’s stock, valued at approximately $8,506,146.42. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,847 shares of company stock worth $3,033,340. 0.16% of the stock is owned by corporate insiders.

Gilead Sciences Stock Performance

NASDAQ:GILD opened at $84.74 on Thursday. 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 business has a fifty day simple moving average of $78.76 and a two-hundred day simple moving average of $71.76. Gilead Sciences, Inc. has a 1 year low of $62.07 and a 1 year high of $87.86. The company has a market capitalization of $105.57 billion, a P/E ratio of 235.39, a P/E/G ratio of 2.91 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD) last announced 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. The company had revenue of $6.95 billion during the quarter, compared to analysts’ expectations of $6.64 billion. Gilead Sciences had a return on equity of 29.34% and a net margin of 3.79%. On average, analysts expect that Gilead Sciences, Inc. will post 3.78 earnings per share for the current year.

Gilead Sciences Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 3.63%. The ex-dividend date was 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.