iA Global Asset Management Inc. Decreases Stock Position in Gilead Sciences, Inc. (NASDAQ:GILD)

iA Global Asset Management Inc. trimmed its position in shares of Gilead Sciences, Inc. (NASDAQ:GILD) by 15.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 152,839 shares of the biopharmaceutical company’s stock after selling 27,802 shares during the quarter. iA Global Asset Management Inc.’s holdings in Gilead Sciences were worth $10,486,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of GILD. CarsonAllaria Wealth Management Ltd. grew its holdings in Gilead Sciences by 198.3% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 358 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 238 shares during the last quarter. Private Wealth Management Group LLC purchased a new position in Gilead Sciences during the 4th quarter valued at $29,000. Palisade Asset Management LLC purchased a new position in Gilead Sciences during the 1st quarter valued at $29,000. Sachetta LLC purchased a new stake in Gilead Sciences in the fourth quarter worth $30,000. Finally, Gladius Capital Management LP bought a new stake in shares of Gilead Sciences during the fourth quarter worth $34,000. Institutional investors own 83.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GILD. Evercore ISI upgraded shares of Gilead Sciences to a “strong-buy” rating in a report on Friday, August 9th. Royal Bank of Canada increased their price objective on Gilead Sciences from $71.00 to $72.00 and gave the stock a “sector perform” rating in a research note on Friday, August 9th. Truist Financial lifted their target price on Gilead Sciences from $82.00 to $83.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Raymond James upgraded Gilead Sciences from a “market perform” rating to an “outperform” rating and set a $93.00 price target on the stock in a research note on Monday, July 8th. Finally, BMO Capital Markets upped their price objective on shares of Gilead Sciences from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Twelve analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $81.94.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, insider Johanna Mercier sold 5,490 shares of Gilead Sciences stock in a transaction dated Tuesday, August 13th. The stock was 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 owns 114,979 shares of the company’s stock, valued at approximately $8,506,146.42. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Gilead Sciences 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 transaction of $137,260.00. Following the sale, the insider now directly owns 96,380 shares of the company’s stock, valued at approximately $6,614,559.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Johanna Mercier sold 5,490 shares of Gilead Sciences stock in a transaction dated Tuesday, August 13th. The shares were 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 of the company’s stock, valued at approximately $8,506,146.42. The disclosure for this sale can be found here. 0.16% of the stock is owned by insiders.

Gilead Sciences Stock Performance

GILD opened at $79.00 on Friday. The company has a market cap of $98.42 billion, a P/E ratio of 219.44, a price-to-earnings-growth ratio of 3.37 and a beta of 0.18. The company has a quick ratio of 0.94, a current ratio of 1.08 and a debt-to-equity ratio of 1.31. The firm’s 50-day moving average price is $72.93 and its 200-day moving average price is $70.32. Gilead Sciences, Inc. has a 52-week low of $62.07 and a 52-week high of $87.86.

Gilead Sciences Announces Dividend

The business 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. The ex-dividend date is Friday, September 13th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.90%. Gilead Sciences’s dividend payout ratio is currently 855.56%.

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.