Gilead Sciences, Inc. (NASDAQ:GILD) Shares Sold by Amalgamated Bank

Amalgamated Bank lessened its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 2.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 251,858 shares of the biopharmaceutical company’s stock after selling 6,342 shares during the period. Amalgamated Bank’s holdings in Gilead Sciences were worth $17,280,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GILD. CarsonAllaria Wealth Management Ltd. grew its holdings in Gilead Sciences by 198.3% during the second quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 238 shares during the period. Palisade Asset Management LLC acquired a new stake in Gilead Sciences in the first quarter valued at $29,000. Sachetta LLC acquired a new stake in Gilead Sciences in the fourth quarter valued at $30,000. Financial Connections Group Inc. acquired a new stake in Gilead Sciences in the second quarter valued at $34,000. Finally, Frank Rimerman Advisors LLC acquired a new stake in Gilead Sciences in the fourth quarter valued at $36,000. Institutional investors and hedge funds own 83.67% of the company’s stock.

Insider Activity

In other news, insider Johanna Mercier sold 29,357 shares of the stock in a transaction dated 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 sale, the insider now owns 78,127 shares in the company, valued at $6,545,480.06. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Merdad Parsey sold 2,000 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $68.63, for a total value of $137,260.00. Following the completion of the sale, the insider now owns 96,380 shares in the company, valued at $6,614,559.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Johanna Mercier sold 29,357 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $83.78, for a total value of $2,459,529.46. Following the sale, 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. Over the last quarter, insiders sold 36,847 shares of company stock worth $3,002,940. 0.16% of the stock is currently owned by corporate insiders.

Gilead Sciences Stock Performance

Shares of NASDAQ:GILD opened at $83.05 on Wednesday. The firm has a market capitalization of $103.47 billion, a PE ratio of 230.69, a P/E/G ratio of 2.80 and a beta of 0.18. 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 50-day moving average of $76.09 and a two-hundred day moving average of $71.00. Gilead Sciences, Inc. has a 12 month low of $62.07 and a 12 month high of $87.86.

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

Gilead Sciences Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a $0.77 dividend. The ex-dividend date is Friday, September 13th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.71%. Gilead Sciences’s dividend payout ratio (DPR) is currently 855.56%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GILD. Robert W. Baird reissued a “neutral” rating and issued a $80.00 target price on shares of Gilead Sciences in a report on Thursday, June 20th. BMO Capital Markets upped their price objective on Gilead Sciences from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Truist Financial upped their price objective on Gilead Sciences from $82.00 to $83.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Piper Sandler restated an “overweight” rating and issued a $95.00 price objective on shares of Gilead Sciences in a research report on Wednesday, September 11th. Finally, Needham & Company LLC restated a “hold” rating on shares of Gilead Sciences in a research report on Thursday, August 15th. Twelve investment 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. According to MarketBeat.com, Gilead Sciences presently has a consensus rating of “Moderate Buy” and an average price target of $82.06.

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.