Martingale Asset Management L P Sells 48,012 Shares of Gilead Sciences, Inc. (NASDAQ:GILD)

Martingale Asset Management L P lowered its stake in Gilead Sciences, Inc. (NASDAQ:GILD) by 15.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 255,510 shares of the biopharmaceutical company’s stock after selling 48,012 shares during the period. Martingale Asset Management L P’s holdings in Gilead Sciences were worth $21,422,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in GILD. Northwest & Ethical Investments L.P. lifted its position in Gilead Sciences by 15.7% during the third quarter. Northwest & Ethical Investments L.P. now owns 234,572 shares of the biopharmaceutical company’s stock valued at $19,667,000 after buying an additional 31,746 shares during the period. Public Sector Pension Investment Board lifted its position in Gilead Sciences by 13.4% during the third quarter. Public Sector Pension Investment Board now owns 54,122 shares of the biopharmaceutical company’s stock valued at $4,538,000 after buying an additional 6,400 shares during the period. Noesis Capital Mangement Corp lifted its position in Gilead Sciences by 4.0% during the third quarter. Noesis Capital Mangement Corp now owns 116,113 shares of the biopharmaceutical company’s stock valued at $9,735,000 after buying an additional 4,425 shares during the period. Fiduciary Trust Co lifted its position in Gilead Sciences by 26.4% during the third quarter. Fiduciary Trust Co now owns 13,424 shares of the biopharmaceutical company’s stock valued at $1,125,000 after buying an additional 2,807 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Gilead Sciences by 9.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 848,235 shares of the biopharmaceutical company’s stock worth $71,116,000 after purchasing an additional 74,063 shares during the last quarter. Institutional investors own 83.67% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on GILD shares. Citigroup started coverage on Gilead Sciences in a research report on Thursday, November 14th. They issued a “buy” rating and a $125.00 price target for the company. The Goldman Sachs Group lifted their price target on Gilead Sciences from $74.00 to $84.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Robert W. Baird lifted their price target on Gilead Sciences from $80.00 to $95.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Wells Fargo & Company lifted their price target on Gilead Sciences from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Finally, Sanford C. Bernstein started coverage on Gilead Sciences in a research report on Thursday, October 17th. They issued an “outperform” rating and a $105.00 price target for the company. Twelve investment analysts have rated the stock with a hold rating, eleven have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, Gilead Sciences presently has an average rating of “Moderate Buy” and an average price target of $95.41.

Gilead Sciences Trading Up 1.2 %

GILD stock opened at $92.41 on Friday. Gilead Sciences, Inc. has a 1-year low of $62.07 and a 1-year high of $98.90. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.26 and a quick ratio of 1.10. The company has a market capitalization of $115.17 billion, a price-to-earnings ratio of 1,026.78, a PEG ratio of 2.87 and a beta of 0.17. The business has a 50 day simple moving average of $88.08 and a two-hundred day simple moving average of $77.52.

Gilead Sciences (NASDAQ:GILD) last posted its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.44. Gilead Sciences had a return on equity of 29.00% and a net margin of 0.45%. The business had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.01 billion. During the same period in the prior year, the company posted $2.29 EPS. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. Research analysts anticipate that Gilead Sciences, Inc. will post 4.37 EPS for the current fiscal year.

Gilead Sciences Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.77 per share. The ex-dividend date is Friday, December 13th. This represents a $3.08 annualized dividend and a dividend yield of 3.33%. Gilead Sciences’s dividend payout ratio (DPR) is 3,422.22%.

Insider Transactions at Gilead Sciences

In related 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 value of $167,660.00. Following the completion of the sale, the insider now directly owns 100,189 shares in the company, valued at $8,398,843.87. This trade represents a 1.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey Bluestone sold 6,788 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $91.39, for a total value of $620,355.32. Following the completion of the sale, the director now owns 8,920 shares of the company’s stock, valued at approximately $815,198.80. This represents a 43.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 63,735 shares of company stock valued at $5,589,030 in the last ninety days. Corporate insiders own 0.16% of the company’s stock.

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.