Gilead Sciences, Inc. (NASDAQ:GILD) Shares Sold by Eagle Bay Advisors LLC

Eagle Bay Advisors LLC reduced its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 11.2% during the second quarter, Holdings Channel.com reports. The fund owned 1,238 shares of the biopharmaceutical company’s stock after selling 156 shares during the quarter. Eagle Bay Advisors LLC’s holdings in Gilead Sciences were worth $85,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GILD. AustralianSuper Pty Ltd increased its holdings in shares of Gilead Sciences by 150.0% in the second quarter. AustralianSuper Pty Ltd now owns 1,016,686 shares of the biopharmaceutical company’s stock valued at $69,755,000 after buying an additional 610,012 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of Gilead Sciences by 0.4% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 178,323 shares of the biopharmaceutical company’s stock worth $12,235,000 after purchasing an additional 705 shares during the period. GAM Holding AG raised its position in shares of Gilead Sciences by 4.4% during the second quarter. GAM Holding AG now owns 71,090 shares of the biopharmaceutical company’s stock worth $4,877,000 after purchasing an additional 3,023 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Gilead Sciences by 3.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 950,312 shares of the biopharmaceutical company’s stock valued at $65,201,000 after purchasing an additional 27,352 shares during the last quarter. Finally, State of Michigan Retirement System boosted its position in shares of Gilead Sciences by 1.3% in the 2nd quarter. State of Michigan Retirement System now owns 373,943 shares of the biopharmaceutical company’s stock valued at $25,656,000 after purchasing an additional 4,900 shares during the period. 83.67% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on GILD shares. Evercore ISI raised shares of Gilead Sciences to a “strong-buy” rating in a research note on Friday, August 9th. Robert W. Baird reaffirmed a “neutral” rating and issued a $80.00 price objective on shares of Gilead Sciences in a research note on Thursday, June 20th. Royal Bank of Canada boosted their target price on shares of Gilead Sciences from $71.00 to $72.00 and gave the company a “sector perform” rating in a research note on Friday, August 9th. BMO Capital Markets raised their target price on Gilead Sciences from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Finally, Maxim Group lowered their price target on Gilead Sciences from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Twelve investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $81.94.

Gilead Sciences Stock Up 2.0 %

NASDAQ:GILD traded up $1.57 during mid-day trading on Wednesday, reaching $78.57. The stock had a trading volume of 2,948,284 shares, compared to its average volume of 7,170,996. The stock has a market cap of $97.89 billion, a P/E ratio of 219.25, a PEG ratio of 3.37 and a beta of 0.18. The business’s 50 day moving average is $72.13 and its 200 day moving average is $70.17. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.08 and a quick ratio of 0.94. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $87.86.

Gilead Sciences Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.92%. Gilead Sciences’s dividend payout ratio is currently 855.56%.

Insider Activity at Gilead Sciences

In other Gilead Sciences 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 transaction of $406,150.20. Following the transaction, the insider now directly 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 at this link. In related news, insider Johanna Mercier sold 5,490 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 114,979 shares in the company, valued at approximately $8,506,146.42. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Merdad Parsey sold 2,000 shares of the stock in a transaction that occurred 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 transaction, 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. 0.16% of the stock is owned by company insiders.

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.