Main Street Group LTD Lowers Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

Main Street Group LTD trimmed its holdings in Gilead Sciences, Inc. (NASDAQ:GILD) by 30.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,650 shares of the biopharmaceutical company’s stock after selling 721 shares during the quarter. Main Street Group LTD’s holdings in Gilead Sciences were worth $113,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of GILD. Illinois Municipal Retirement Fund grew its stake in shares of Gilead Sciences by 13.7% in the 2nd quarter. Illinois Municipal Retirement Fund now owns 272,384 shares of the biopharmaceutical company’s stock valued at $18,688,000 after purchasing an additional 32,721 shares during the last quarter. Seven Post Investment Office LP acquired a new stake in shares of Gilead Sciences in the 2nd quarter worth $804,000. Commonwealth Retirement Investments LLC purchased a new stake in shares of Gilead Sciences in the second quarter valued at about $1,556,000. Sivia Capital Partners LLC acquired a new position in shares of Gilead Sciences during the second quarter worth about $214,000. Finally, Lloyd Advisory Services LLC. purchased a new position in Gilead Sciences during the second quarter worth about $238,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on GILD shares. Raymond James raised Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price objective on the stock in a report on Monday, July 8th. BMO Capital Markets increased their price objective on Gilead Sciences from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Needham & Company LLC reissued a “hold” rating on shares of Gilead Sciences in a 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 note on Thursday, June 20th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $70.00 price objective on shares of Gilead Sciences in a research note on Friday, August 9th. Twelve investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.06.

Insider Transactions at Gilead Sciences

In related 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 transaction, the insider now owns 114,979 shares in the company, valued at $8,506,146.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other 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 value of $406,150.20. Following the completion of the sale, the insider now 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 through this hyperlink. Also, 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 transaction 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. Insiders own 0.16% of the company’s stock.

Gilead Sciences Price Performance

Gilead Sciences stock traded down $0.05 during midday trading on Friday, reaching $78.72. 9,220,980 shares of the company were exchanged, compared to its average volume of 7,163,236. The company has a market capitalization of $98.07 billion, a price-to-earnings ratio of 218.67, a P/E/G ratio of 2.74 and a beta of 0.18. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.95 and a current ratio of 1.14. The firm’s 50-day simple moving average is $74.06 and its 200-day simple moving average is $70.57. 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 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 company had revenue of $6.95 billion during the quarter, compared to the consensus estimate of $6.64 billion. On average, analysts anticipate that Gilead Sciences, Inc. will post 3.78 EPS for the current year.

Gilead Sciences Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 3.91%. The ex-dividend date of this dividend is Friday, September 13th. Gilead Sciences’s dividend payout ratio (DPR) is 855.56%.

Gilead Sciences 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.