OLD National Bancorp IN Sells 2,613 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

OLD National Bancorp IN reduced its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 13.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,538 shares of the biopharmaceutical company’s stock after selling 2,613 shares during the quarter. OLD National Bancorp IN’s holdings in Gilead Sciences were worth $1,387,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in Gilead Sciences by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 114,732,575 shares of the biopharmaceutical company’s stock worth $8,404,161,000 after buying an additional 2,910,147 shares during the period. Capital World Investors raised its holdings in shares of Gilead Sciences by 1.4% during the first quarter. Capital World Investors now owns 84,497,404 shares of the biopharmaceutical company’s stock worth $6,189,435,000 after acquiring an additional 1,133,281 shares during the period. Capital Research Global Investors lifted its position in Gilead Sciences by 2.7% in the 1st quarter. Capital Research Global Investors now owns 61,246,366 shares of the biopharmaceutical company’s stock valued at $4,486,296,000 after acquiring an additional 1,589,240 shares in the last quarter. Legal & General Group Plc boosted its stake in Gilead Sciences by 0.8% in the 2nd quarter. Legal & General Group Plc now owns 12,414,268 shares of the biopharmaceutical company’s stock worth $851,743,000 after purchasing an additional 93,068 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in Gilead Sciences by 2.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 10,412,413 shares of the biopharmaceutical company’s stock worth $714,421,000 after purchasing an additional 268,208 shares in the last quarter. Institutional investors and hedge funds own 83.67% of the company’s stock.

Insider Activity

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the firm’s 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 transaction, the insider now owns 100,189 shares in the company, valued at $8,398,843.87. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Gilead Sciences news, insider Johanna Mercier sold 29,357 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $83.78, for a total transaction of $2,459,529.46. Following the sale, the insider now directly owns 78,127 shares in the company, valued at $6,545,480.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $83.83, for a total transaction of $167,660.00. Following the completion of the transaction, the insider now owns 100,189 shares of the company’s stock, valued at $8,398,843.87. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,847 shares of company stock worth $3,033,340. Corporate insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Truist Financial upped their price objective on Gilead Sciences from $82.00 to $83.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $70.00 price target on shares of Gilead Sciences in a research note on Monday, September 16th. Raymond James upgraded shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 target price for the company in a report on Monday, July 8th. Piper Sandler reiterated an “overweight” rating and issued a $95.00 price target on shares of Gilead Sciences in a research note on Wednesday, September 11th. Finally, Sanford C. Bernstein assumed coverage on shares of Gilead Sciences in a research note on Thursday, October 17th. They set an “outperform” rating and a $105.00 price objective for the company. Ten analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $86.85.

Gilead Sciences Price Performance

Gilead Sciences stock opened at $86.29 on Tuesday. The stock’s 50 day moving average is $81.32 and its 200-day moving average is $72.94. The company has a market capitalization of $107.50 billion, a price-to-earnings ratio of 239.69, a PEG ratio of 2.98 and a beta of 0.18. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $87.86. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 1.18.

Gilead Sciences (NASDAQ:GILD) last announced its earnings results on Thursday, August 8th. The biopharmaceutical company reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.40. Gilead Sciences had a net margin of 3.79% and a return on equity of 29.34%. The company had revenue of $6.95 billion during the quarter, compared to analysts’ expectations of $6.64 billion. Equities research analysts expect that Gilead Sciences, Inc. will post 3.78 EPS for the current year.

Gilead Sciences Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a dividend of $0.77 per share. The ex-dividend date was Friday, September 13th. This represents a $3.08 annualized dividend and a dividend yield of 3.57%. Gilead Sciences’s dividend payout ratio 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.