K.J. Harrison & Partners Inc Trims Holdings in Gilead Sciences, Inc. (NASDAQ:GILD)

K.J. Harrison & Partners Inc reduced its holdings in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 44.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,700 shares of the biopharmaceutical company’s stock after selling 3,015 shares during the period. K.J. Harrison & Partners Inc’s holdings in Gilead Sciences were worth $254,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of GILD. Simmons Bank raised its holdings in Gilead Sciences by 1.1% in the 2nd quarter. Simmons Bank now owns 43,030 shares of the biopharmaceutical company’s stock worth $2,952,000 after acquiring an additional 464 shares during the last quarter. Financial Connections Group Inc. bought a new stake in Gilead Sciences in the 2nd quarter worth about $34,000. Harbour Investments Inc. increased its holdings in Gilead Sciences by 29.0% in the 2nd quarter. Harbour Investments Inc. now owns 9,055 shares of the biopharmaceutical company’s stock worth $621,000 after buying an additional 2,037 shares in the last quarter. AustralianSuper Pty Ltd raised its position in Gilead Sciences by 150.0% in the 2nd quarter. AustralianSuper Pty Ltd now owns 1,016,686 shares of the biopharmaceutical company’s stock worth $69,755,000 after buying an additional 610,012 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its stake in Gilead Sciences by 0.4% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 178,323 shares of the biopharmaceutical company’s stock valued at $12,235,000 after acquiring an additional 705 shares during the period. Institutional investors own 83.67% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on GILD. Royal Bank of Canada lifted their price objective on Gilead Sciences from $71.00 to $72.00 and gave the stock a “sector perform” rating in a report on Friday, August 9th. Evercore ISI upgraded Gilead Sciences to a “strong-buy” rating in a research report on Friday, August 9th. Cantor Fitzgerald restated a “neutral” rating and issued a $70.00 price target on shares of Gilead Sciences in a research report on Friday, August 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Gilead Sciences in a research report on Thursday, August 15th. Finally, Raymond James upgraded shares of Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price objective on the stock in a research report on Monday, July 8th. Twelve 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, the company has an average rating of “Moderate Buy” and a consensus price target of $81.94.

Gilead Sciences Price Performance

NASDAQ GILD traded up $1.56 during trading hours on Wednesday, reaching $78.56. The company’s stock had a trading volume of 6,203,017 shares, compared to its average volume of 7,190,603. 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 1-year low of $62.07 and a 1-year high of $87.86. The company’s 50-day moving average is $72.13 and its two-hundred day moving average is $70.17. The firm has a market capitalization of $97.87 billion, a price-to-earnings ratio of 219.25, a P/E/G ratio of 3.37 and a beta of 0.18.

Gilead Sciences Dividend Announcement

The firm also recently announced 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. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date of this dividend is Friday, September 13th. Gilead Sciences’s payout ratio is 855.56%.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, insider Merdad Parsey sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $68.63, for a total value of $137,260.00. Following the sale, the insider now owns 96,380 shares of the company’s stock, valued at $6,614,559.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Merdad Parsey sold 2,000 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 96,380 shares in the company, valued at approximately $6,614,559.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Johanna Mercier sold 5,490 shares of the business’s 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 completion of the sale, the insider now directly owns 114,979 shares of the company’s stock, valued at $8,506,146.42. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by 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.